Trump, tax and spending law
Digest more
The "big, beautiful bill" signed into law by President Trump last week will allow him to dramatically expand his immigration crackdown.
The One Big Beautiful Bill Act is temporarily quadrupling the state and local tax deduction to at least $40,000, up from $10,000, for the next five years. Now it’s up to taxpayers to see if they can take advantage of this extra write-off, which is popularly referred to as the SALT deduction.
President Donald Trump signed the Republican megabill dubbed the "Big Beautiful Bill" into law on the Fourth of July in a White House signing ceremony complete with a flyover from military planes.
The millions of Americans with student loans, who have already experienced whiplash in federal policy since the pandemic, must again brace for change.The "big, beautiful bill" that President Trump signed into law on July 4 overhauls the federal student loan system by reducing the number of repayment plan options down to two and capping the amount individuals can borrow for higher education.
Plus, the Justice Department has subpoenaed 20 doctors and clinics involved in “performing transgender medical procedures on children.”
Explore more
The tax and spending package includes $66.4 billion in new money for programs assisting farmers, strengthening the safety net if there is significant volatility in crop prices and revenues.
Contained in the new federal spending law formerly known as the "Big Beautiful Bill" is funding for 17 icebreakers, 21 cutters, more than 40 helicopters and six large patrol airplanes, Coast Guard officials said. It could take as long as 15 years to get the first of the large ships commissioned, according to government estimates.