Those who still choose to itemize their deductions will also see changes. Trump’s law temporarily raises the cap on state and local tax (SALT) deductions. It goes from $10,000 to $40,000 in 2025. This change could benefit taxpayers in high-tax states.

Range reports that Trump’s “Big Beautiful Bill” offers significant tax changes for high earners, including increased estate tax exemptions and expanded SALT deductions.

Sen. Tim Scott talked about two pieces of recent legislation that have passed Congress: the One Big Beautiful Bill and the Genius Act.

Rolling back the green energy subsidies will help pay for President Donald Trump’s tax cuts and policy priorities, including more border security. So, the electric vehicle tax credit will now end

As a candidate, Trump promised to lift taxes on overtime. The new law allows workers to deduct up to $12,500 in overtime compensation (for single filers) or $25,000 (for joint filers). This deduction phases out for income levels between $150,000 and $275,000 (for single filers) and $300,000 and $550,000 (for joint filers).

Experts are now debating if the elimination will significantly hurt the industry or if solar adoption developed such momentum that it will continue to grow on its own. Trump’s bill won’t go into effect until Dec.

Republicans, including Senate Minority Leader John Braun, have cheered on the bill for offering tax breaks to middle-class residents.

GOP chair Michael Whatley touts Trump's domestic policy package as the embodiment of Republican promises on economy, border security and defense ahead of the 2026 midterm elections