#Trump’s Tax Reform Trump’s new tax reform plan, called the One Big Beautiful Bill (OBBBA), aims to:
* Make 2017 tax cuts permanent
* Raise standard deduction (e.g., $16K for singles)
* Boost child tax credit (up to $2,500)
* Exclude tips and overtime from income tax
* Raise SALT deduction cap to $40K
* Add new perks like auto loan interest deductions and savings for parents
💰 Estimated cost: Adds $3–4 trillion to the deficit
🏛️ Status: Passed in House, moving through Senate
⚖️ Debate: Backed by GOP for growth; criticized for favoring wealthy and cutting social programs
#BTC #Gate Square C