Big Beautiful Bill, Tax Break
Digest more
President Donald Trump’s “big, beautiful bill,” which he signed into law earlier this month, includes major wins for business interests that carried out aggressive lobbying campaigns on Capitol Hill to secure favorable treatment for their industries.
Starting next year, millions of Americans — from restaurant servers to retirees — could receive lower tax bills under President Trump's recently signed tax legislation. Why it matters: The sweeping law locks in Trump-era tax cuts and rolls out a fresh set of deductions,
Republicans, including Senate Minority Leader John Braun, have cheered on the bill for offering tax breaks to middle-class residents.
President Trump vowed to end taxes on Social Security, but the One Big Beautiful Bill stops short of fulfilling that promise.
An analysis by a think tank found that annual household energy costs in the state will increase $110 by 2030 and $410 by 2035.