Elevate Your Tax Strategy with RTN
President Trump’s One Big Beautiful Bill, signed in July 2025, delivers the largest tax cut for
middle- and working-class Americans. It makes the 2017 tax cuts permanent and adds new
reliefs like no federal tax on tips, overtime, or Social Security income. Families under $50,000
see the biggest savings, with over $10,000 more in take-home pay each year. The Child Tax
Credit is higher, and every newborn gets a $1,000 Trump Savings Account to use for education,
housing, or retirement. Homeowners in high-tax states benefit from a higher SALT deduction
cap, while mortgage deductions remain unchanged. The bill also favors American industries
with new tax breaks for U.S. auto loans and manufacturing, while rolling back many clean
energy credits.
At the same time, the law cuts $1.5 trillion in federal spending, introduces Medicaid work
requirements, blocks benefits for illegal immigrants, and eliminates funding for Planned
Parenthood. It invests heavily in defense and infrastructure, including missile defense systems
and a $12.5 billion air traffic control upgrade. Student loans forgiven due to death or disability
are now tax-free, while some smaller reimbursements (like moving expenses) become taxable
again. Overall, the bill locks in permanent tax relief, supports families and homeowners,
strengthens U.S. industries, and redirects federal spending toward defense and growth.