Trump's Big Beautiful Tax Bill
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If you’re banking on tax-free overtime to boost your paycheck, you’re out of luck. Trump’s “big beautiful bill” doesn’t change what you’re paid; it changes what you’re taxed. That happens at tax time, not on payday. Employers will keep withholding taxes as usual, and it’s up to you to apply the deduction — if you qualify — when you file.
Trump's new law offers tax breaks for families but slashes healthcare and food aid. Here's what parents need to know about the financial impact.
Under the bill, the SALT cap temporarily increases to $40,000 per year, so long as your annual income does not exceed $500,000.
Republicans' "big, beautiful bill" reinstated lower royalty rates for energy production, requires regular oil lease sales and phases out electric vehicle and clean energy tax credits
During her tour of Checkerspot, Loeffler emphasized that the bill is pro-worker, pro-growth and offers permanent tax cuts for small businesses.
Fresh off passage of the “One Big Beautiful Bill,” some anti-tax advocates hope to push the administration to change how taxable capital gains are calculated.
Midrange earners stand to see meaningful savings, too. A warehouse supervisor earning $60,000 with $10,000 in overtime could shave a couple thousand dollars off their federal tax bill. A hotel bartender making $45,000 plus $5,000 in tips could get back all the federal taxes withheld from their tips.
Experts and advocates warn that it could have dire consequences for Alabama’s tenuous rural healthcare situation.