Trump's recently passed Big Beautiful Bill solidifies tax cuts from the Tax Cuts and Jobs Act by making them permanent, increasing the standard deduction, and offering new tax exemptions tailored for various voter groups. Notably, it raises the cap on state and local tax deductions to $40,000, favoring residents from states with high taxes. Additionally, the bill allocates vast resources to ICE for immigration enforcement, emphasizing Trump's commitment to border security and deportation efforts, completing a significant legislative agenda within his term.
The Big Beautiful Bill makes previously temporary tax cuts permanent, significantly increases the standard deduction for individuals, and creates new tax exemptions aimed at various voter demographics.
Under the new legislation, many high earners will benefit greatly from the tax cuts while providing essential deductions for lower incomes and elderly taxpayers.
The bill has also noticeably increased the cap on state and local tax deductions from $10,000 to $40,000, catering to voters in high-tax states.
In tandem with tax reforms, the legislation allocates substantial funding to ICE for operations, detention facilities, and border security as part of Trump's broader immigration strategy.
Collection
[
|
...
]