Trump, tax law
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House Speaker Johnson says President Trump's "big, beautiful bill" will help the GOP in the midterms. Key Senate races are now in the spotlight as Republicans aim to hold their slim majority in 2026.
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's second term continues to spark emotions - most recently with the approval of his controversial "One, Big, Beautiful Bill." What the polls reveal.
The "big, beautiful bill" signed into law​ by President Trump last week will allow him to dramatically expand his immigration crackdown.
Democratic Party officials are looking at the Big Beautiful Bill as a political gift and hoping voters view cuts to social spending negatively. But the party faces challenges ahead of the midterms, including a Republican trifecta and a base questioning if party leadership is doing enough to challenge President Trump.
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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.