Big Beautiful Bill summary: 10 key takeaways from Donald Trump’s Big Beautiful Bill summarised simply
Here are the 10 biggest changes on the bill and what they might mean for the Americans.
1. Trump’s tax cuts become permanent
According to the report, the bill uses most of Trump’s 2017 tax deductions and tax deductions from the Labor Law, which will end at the end of this year. Supporters say it will increase the economy, but critics, according to the CBS News report, provide great benefit to the rich and contribute to the national debt.
2. Millions may lose the scope of Medicaid
The bill brings new work requirements for some adults in Medicaid, and as reported by the CBS News, it increases how often the compliance is reviewed. According to the Congress Budget Office, approximately 11.8 million people may lose their health under Medicaid in the next decade, as reported by CBS News.
3. More tight food stamp rules
According to the report, the food aid program SNAP will require talented adults up to 64 years of age to meet business requirements. According to CBS News, states with high error rates may have to pay some of the cost of the program starting from 2028.
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4. Great increase in border and immigration financing
According to the CBS News report, the bill is over $ 46.5 billion for the construction of the border wall, $ 46.5 billion, 45 billion dollars to expand the detention area and $ 30 billion for immigration for immigration officials, including $ 30 billion. In addition, according to the report, it adds a $ 100 fee for asylum seekers.
5. Withdrawal of Green Energy Programs
The bill eliminates many clean energy tax loans offered at the Inflation Reduction Law, including electric vehicles and energy -saving home upgrades, and also ends the greenhouse gas reduction fund, although existing grants will not be canceled as reported by CBS News.
6. Temporary relief in salt outage
According to the report, the boundary on the state and local tax (salt) deduction was increased from $ 10,000 to $ 40,000 for five years, but five years later, the border returns to the previous level.
7. 5 trillion dollars collected debt ceiling
In the future hours this summer, the invoice to avoid a potential default includes an increase of 5 trillion dollars on the federal debt ceiling, according to the CBS news report. According to the report, Treasury officials warned that the United States could miss payments until August.
8. modest increase in children’s tax loan
As reported by the CBS News, the child’s tax loan, which will fall from $ 2,000 to $ 1,000 in 2026, was raised to $ 2,200 instead.
9. Tax discounts for Tipped and overtime workers
According to the CBS News, the bill was released for couples who earn more than $ 300,000 for workers who have won tips and overtime payment up to $ 25,000, up to 25,000 dollars and break stages or more than $ 300,000 for CBS News.
10. Standard deduction increase has been made permanent
The standard deduction, which almost doubled in 2017, will end at the end of this year. This bill makes a higher deduction permanent than the report.
FAQ
Can I lose the scope of Medicaid?
If you are in Medicaid and do not meet new job requirements or conformity controls, you may lose the scope according to the CBS News report.
Am I still suitable for food stamps?
If you are a talented adult under 65 years of age, you may now need to meet business requirements to continue to receive Snap benefits.
