But the former head of the federal budget-cutting DOGE department warned Trump’s bill would ‘destroy millions of jobs in America and cause immense strategic harm to our country.’
Supporters argue permanent rate cuts will spur investment and wage growth, while critics reckon the benefits are skewed heavily toward the top one percent, widening income inequality.
Here’s a break down of what’s in the ‘Big, Beautiful Bill’ and who it impacts…
What’s in Trump’s ‘Big Beautiful Bill?’
Tax cuts
The bill will extend on the 2017 tax rate cuts Trump put forward during his first presidency, for individuals and corporations.
‘Hard working’ Americans will see an average increase in take-home pay of more $10,000 per year, according to the White House.