Trump’s Big Beautiful Bill Passed: Here’s How It Affects Your Money
President Trump’s One Big Beautiful Bill has officially passed, and it comes with sweeping changes that could directly impact your taxes, healthcare, and government benefits. The bill makes the 2017 tax cuts permanent, introduces new deductions for tip income and overtime, imposes work requirements for Medicaid and SNAP recipients, and redirects federal spending toward defense and border security. It also eliminates several clean energy tax credits while expanding fossil fuel incentives, raising questions about its long-term fiscal and social impact. In this video, Ara Oghoorian, breaks down what the bill actually means for you. From new tax rules and benefit reductions to shifts in federal spending priorities, Ara explains the key takeaways in simple, practical terms.
#TrumpBill2025 #BigBeautifulBill #Trumptaxcuts
1:10 No Tax on Tips 4:12 No Tax on Overtime Pay 7:14 Tax Cuts and Jobs Act 8:26 SALT Deduction 10:29 Pass-through Entity Workaround 11:25 Qualified Business Income Deduction (QBI) 12:58 Auto Loan Interest Deduction 14:45 Trump Accounts 17:33 Federal Senior Tax Relief 18:16 Chid Tax Credit 20:01 Estate Tax Exemption 21:00 QSBS Qualified Small Business Stock 23:12 Bonus Depreciation 24:12 Limitation of Gambling Losses
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DISCLAIMER: This video is for informational purposes only and should not be construed as tax, financial, or legal advice. Every person’s situation is different, and you should consult with your own financial and tax advisor for advice specific to your situation. Comments are not reviewed.
