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The Latest Breaking News from Tax Cuts

Why Old Cars Are More than Just Machines: From Tax Benefits to Living Time Capsules of Human Ingenuity

Under Section 179 of the 2017 Tax Cuts and Jobs Act, business owners who utilize a qualifying asset for more than 50% of business purposes may deduct its cost in the first year.

International Business Times

I Asked ChatGPT To Debunk One Common Myth About Trump’s Economy: Here’s What It Said

ChatGPT elaborates on the Trump tax cut myth, revealing they don’t pay for themselves and could add $2.8T to the deficit, per multiple data sources.

GOBankingRates

Trump Shifts Messaging On Domestic Policy Law

President Trump changes messaging strategy to highlight tax cuts for middle-class Americans in domestic policy law.

Top News

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One in four UK late-night venues have closed since 2020, figures show

Industry body calls for urgent tax cuts to save ‘cornerstones of community life’ and halt rise of ‘night-time deserts’

The Guardian - UK

Trump’s tariffs are becoming such an important revenue source that they’re now propping up America’s debt rating

“At this time, it appears that meaningful tariff revenue has the potential to offset the deficit-raising aspects of the recent budget legislation.”

Fortune

Is Trump’s ‘Big Beautiful’ spending law the biggest tax cut in US history?

Trump’s 2025 law ranks third among tax cuts since 1980 and mainly extends old cuts, making its impact modest for most.

Al Jazeera

Trump touts perceived wins while praising ‘healthy, attractive people’ on DC federal patrol photo op

‘ We've done a lot of good work, including the biggest tax cuts that you've ever had,’ Trump said

The Independent UK

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4 Big Retirement Changes Under Trump’s Big Beautiful Bill

President Donald Trump's One Big Beautiful Bill Act (OBBBA) is his administration's signature legislation during his second term and includes tax cuts, health insurance cuts, green energy cuts,...

GOBankingRates

4 of These Trump Tax Cuts Are Short-Lived — Here’s How To Maximize Them Before They Expire

Trump’s OBBBA tax cuts offer big savings, but some of the cuts will expire in 2028. Learn how to claim deductions and maximize benefits before they vanish.

GOBankingRates

2 Changes Coming to American Car Prices Under Trump

Between the recently passed One Big Beautiful Bill Act and his promised tax plan initiatives, President Donald Trump is taking big economic swings. His focus on tariffs, deregulation and tax cuts will...

GOBankingRates

Elon Musk’s own brainchild now haunting him as it broke free from his control with ‘consequences’

One big, beautiful contradiction.

We Got This Covered

Biggest Winners and Losers in Trump's New Tax Plan

Trump’s mega tax overhaul, known as the ‘One Big Beautiful Bill,’ has distinct winners and losers. Which group do you fall into?

Kiplinger

I Asked ChatGPT How Trump’s Tax Cuts Could Impact My Family Budget — Here’s the Breakdown

I asked the AI platform how Trump's tax cuts under the One Big Beautiful Bill Act could impact my family budget. Here's what it told me.

GOBankingRates

One Big Back Breaker: Trump law to COST millions their healthcare and add $3T in debt while rich see tax cuts

“It's actually almost unheard of ... that juxtaposition of taking from the poor while giving to the rich,” one analyst said

The Independent UK

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The Conversation

How the ‘big, beautiful bill’ will deepen the racial wealth gap – a law scholar explains how it reduces poor families’ ability to afford food and health care

President Donald Trump has said the “big, beautiful bill” he signed into law on July 4, 2025, will stimulate the economy and foster financial security.

GOBankingRates

I Asked ChatGPT What the Big Beautiful Bill Means for the Middle Class’s Taxes: Here’s What It Said

Americans are just learning what's included in the One Big Beautiful Bill. So GOBankingRates asked ChatGPT what the bill means for the middle class's taxes.

Benzinga

Trump's Tariffs, Tax Cuts, And Tensions With Brazil Stir The Pot: This Week In Economy

The past week has been a whirlwind of economic and political events. From record-breaking customs duty collections to billionaire investors casting doubt on tariff outcomes, the week was filled with intriguing stories. Here’s a quick recap of the top five stories that made headlines.

Benzinga

Peter Schiff Says Trump's Tax Cuts 'Won't Grow The Economy.' Instead, He Warns They'll Lead To Higher Interest Rates And Inflation

Economist and market commentator Peter Schiff is cautioning against President Donald Trump's latest tax and spending package, saying it could do more harm than good for the U.S. economy.

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International Business Times UK

Big Beautiful Bill Summary: How Will it Affect Student Loans, Tax Cuts, Child Support and More

The One Big Beautiful Bill reshapes taxes, student loans, and child support. Discover how it impacts you and share your thoughts

The Independent UK

Ex-Treasury secretary pans Congress for passing Trump’s ‘shameful’ megabill he says will hurt economy

Summers notes that cuts to SNAP and Medicaid could kill thousands while saying GOP tax cuts will mostly benefit wealthy Americans

Latin Times

Elon Musk Receives Barrage of Questions on Guns, Tax Cuts, and Abortion After Declaring 'America Party' Formed

Elon Musk proclaimed that a new political party — America Party — is now formed, prompting a barrage of questions about the party's platform.

The Guardian - US

So big, so beautiful: Fox News ignores the critics and champions Trump’s bill

Rightwing network downplays criticism from economists and says bill is ‘packed with massive, huge, important wins’

Al Jazeera

Trump claims victory as he signs controversial budget and tax bill into law

The bill extends tax cuts, slices welfare programmes and surges immigration funds in a victory for Trump’s agenda.

The Independent UK

The House just passed Donald Trump’s ‘One Big, Beautiful Bill.’ Here’s what that means for you

From tax cuts for wealthy Americans to cuts in benefits through Medicaid and SNAP, this legislation provides plenty of ammunition for the president’s political priorities.

The Independent UK

House Republicans give Trump a ‘Big Beautiful’ July 4 by passing Medicaid-slashing megabill despite GOP rift

The bill also allows for the extension of 2017 tax cuts while forcing states to shoulder more of the cost of welfare food benefits

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