{"id":17687,"date":"2025-07-03T21:22:12","date_gmt":"2025-07-03T21:22:12","guid":{"rendered":"https:\/\/finderica.com\/?p=17687"},"modified":"2025-07-03T21:22:12","modified_gmt":"2025-07-03T21:22:12","slug":"what-the-big-beautiful-bill-means-for-your-finances","status":"publish","type":"post","link":"https:\/\/finderica.com\/?p=17687","title":{"rendered":"What the \u2018Big, Beautiful Bill\u2019 Means for Your Finances"},"content":{"rendered":"
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President Donald J. Trump’s \u201cbig, beautiful bill\u201d has cleared the finish line in Congress. Its provisions are expected to dramatically reshape the financial lives of millions of Americans and add trillions to an already-overflowing national debt. <\/span><\/p>\n<\/div>\n

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The Senate passed its version of the <\/span>budget bill<\/span> on Tuesday, and House Republicans approved the final package on Thursday by a vote of 218-214. Firmly walking the party line, the budget delivers on many of <\/span>President Donald Trump<\/span>\u2019s top policy goals. Trump is expected to sign the bill into law on July 4. The legislation extends 2017 tax cuts, strips health insurance from millions of Medicaid recipients, increases defense and immigration enforcement, raises the debt limit and weakens food assistance. <\/span><\/p>\n<\/div>\n

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Altogether, the bill adds an estimated $3.3 trillion to the <\/span>national debt<\/span> over the next 10 years, according to an analysis by the Congressional Budget Office (CBO). <\/span><\/p>\n<\/div>\n

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Among the hundreds of line items in the budget are a slew of measures that could shake up household finances for years to come. Here are the provisions in the bill that will most directly affect Americans and the U.S. economy. <\/span><\/p>\n<\/div>\n

Tax cuts and credits <\/span><\/h2>\n
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The budget makes permanent the 2017 tax cuts implemented during the first Trump administration that were set to expire by the end of the year. It\u2019s by far the most expensive item in the budget. An analysis by the CBO that looks through 2034 finds the wealthiest households will benefit most with an average $12,044 in savings per year; middle-income families would see average annual savings of $500 to $1,000 per year; while the lowest-income households would lose an average of $1,559 annually. <\/span><\/p>\n<\/div>\n

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Among the nearly 70 tax-related provisions in the budget, here are the most notable for taxpayers, by how much money they’d cost the federal government or bring in as tax revenue. <\/span><\/p>\n<\/div>\n

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Measures that would reduce revenue for the federal government, according to the CBO: <\/span><\/p>\n<\/div>\n

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