{"id":720989,"date":"2025-07-04T09:04:34","date_gmt":"2025-07-04T13:04:34","guid":{"rendered":"https:\/\/sandrarose.com\/?p=720989"},"modified":"2025-07-04T09:35:39","modified_gmt":"2025-07-04T13:35:39","slug":"how-trumps-big-beautiful-bill-will-affect-your-income-taxes","status":"publish","type":"post","link":"https:\/\/sandrarose.com\/2025\/07\/how-trumps-big-beautiful-bill-will-affect-your-income-taxes\/","title":{"rendered":"How Trump’s ‘Big, Beautiful Bill’ Will Affect Your Income Taxes"},"content":{"rendered":"
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MediaPunch \/ BACKGRID<\/figcaption><\/figure>\n

House Republicans voted to pass President Donald Trump’s One Big Beautiful Bill Act on Thursday. The bill was sent to Trump’s desk to sign on Friday, July 4.<\/p>\n

President Trump’s “big, beautiful bill” means fewer taxes for lower income Americans and a $6,000 deduction<\/a> for seniors 65 and older.<\/p>\n

No taxes on Social Security or tips up to $25,000<\/h3>\n

Trump kept his promise of no taxes on Social Security<\/a> up to $25,000.<\/p>\n

The bill makes Trump’s 2017 tax breaks permanent, and added no taxes on tips up to $25,000.<\/p>\n

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AI art<\/figcaption><\/figure>\n

Seniors will benefit from a $6,000 “senior deduction” that will allow more people over 65 to avoid Social Security taxes, according to The Hill<\/a>.<\/p>\n

Most households (over 80%) will get tax cuts in 2026 that expire in 2028. Households with annual incomes of about $217,000 or more will get a tax cut of $12,000.<\/p>\n

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Johnny Greig\/ E+ \/Getty Images<\/figcaption><\/figure>\n

Households earning between $217,000 and $318,000 would see their after-tax income increase $5,400. Households making between $100,000 and $200,000 a year would get a tax break of $3,000.<\/p>\n

Americans making between $75,000 and $100,000 would get a tax break of about $1,700, while middle income earners (making $50,000 to $75,000) will see a $1,000 tax break. <\/p>\n

Americans making between $40,000 and $50,000 will see about $630 more in their paychecks.<\/p>\n

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AI art<\/figcaption><\/figure>\n

Many of the bill’s tax deductions will begin in 2026. That includes a permanent increase in the child tax credit to $2,200 and an increase in the standard deduction by $750.<\/p>\n

Trump reacted angrily<\/a> to House Democrats who voted no on the BBB bill. “I hate them,” Trump said at a patriotic event on Thursday.<\/p>\n

“All of the things we did with the tax cuts and rebuilding our military – not one Democrat voted for us,” Trump said at a “Salute to America” event in Des Moines, Iowa on Thursday.<\/p>\n

“But all of the things that we’ve given, and they wouldn’t vote. Only because they hate Trump. But I hate them, too. You know that? I really do, I hate them. I cannot stand them because I really believe they hate our country, you want to know the truth.”<\/p>\n","protected":false},"excerpt":{"rendered":"

House Republicans voted to pass President Donald Trump’s One Big Beautiful Bill Act on Thursday. The bill was sent to Trump’s desk to sign on Friday, July 4. President Trump’s <\/p>\n","protected":false},"author":1,"featured_media":720996,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[66],"tags":[16301,4038,2574,10289,18322],"class_list":{"0":"post-720989","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-politics","8":"tag-house-republicans","9":"tag-income-tax","10":"tag-money-and-finances","11":"tag-president-donald-trump","12":"tag-tax-laws"},"_links":{"self":[{"href":"https:\/\/sandrarose.com\/wp-json\/wp\/v2\/posts\/720989","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sandrarose.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sandrarose.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sandrarose.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sandrarose.com\/wp-json\/wp\/v2\/comments?post=720989"}],"version-history":[{"count":6,"href":"https:\/\/sandrarose.com\/wp-json\/wp\/v2\/posts\/720989\/revisions"}],"predecessor-version":[{"id":720995,"href":"https:\/\/sandrarose.com\/wp-json\/wp\/v2\/posts\/720989\/revisions\/720995"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sandrarose.com\/wp-json\/wp\/v2\/media\/720996"}],"wp:attachment":[{"href":"https:\/\/sandrarose.com\/wp-json\/wp\/v2\/media?parent=720989"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sandrarose.com\/wp-json\/wp\/v2\/categories?post=720989"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sandrarose.com\/wp-json\/wp\/v2\/tags?post=720989"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}