Negative
25Serious
Neutral
Optimistic
Positive
- Total News Sources
- 2
- Left
- 1
- Center
- 1
- Right
- 0
- Unrated
- 0
- Last Updated
- 2 days ago
- Bias Distribution
- 50% Center
Trump Signs Tax Overhaul Cutting Overtime, Medicaid, Impacting Millions
President Donald Trump signed the One Big Beautiful Bill Act (OBBBA) into law on July 4, 2025, fulfilling his campaign promise to eliminate taxes on tips and overtime pay. The bill allows American workers to deduct up to $25,000 in tips annually from their taxable income and removes taxes on overtime earnings for those earning under $150,000 individually or $300,000 jointly, with the legislation effective from 2025 through 2028. While the bill extends the 2017 tax cuts and offers significant tax breaks benefiting high-income earners and families with children, it also includes cuts to social programs such as Medicaid and SNAP, which may adversely affect lower-income individuals and millions of recipients in states like Tennessee. The Trump administration claims the policy could boost working-class salaries, but critics including US restaurants warn it could complicate wage structures for tipped workers. The bill's provisions will phase in over time, with some taking immediate effect and others starting in late 2026, and it is projected to reduce federal revenue by about $3.7 trillion over the next decade, increasing the federal deficit. Implementation depends on the IRS and Treasury Department's timeliness, and further legislative appeals have been made regarding some of its provisions.


- Total News Sources
- 2
- Left
- 1
- Center
- 1
- Right
- 0
- Unrated
- 0
- Last Updated
- 2 days ago
- Bias Distribution
- 50% Center
Negative
25Serious
Neutral
Optimistic
Positive
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