President Trump signed his “One Big Beautiful Act” (OBBA) into law and Americans will see sweeping changes to their finances as a result. The final bill includes a senior bonus to help offset Social Security taxes, tax breaks for service industry employees, a bigger Child Tax Credit, but will also make Trump’s Tax Cuts and Jobs Act of 2017 (TCJA) permanent and cut funding for Medicaid and Medicare, per the Center for American Progress.
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