Certainty No. 1: Tax Liberation

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Certainty No. 1: Tax LiberationLast week, President Trump’s “Big, Beautiful Bill,” a sweeping legislative tax proposal, passed the House. Here are three key reforms it includes…

• Permanent middle-class tax cuts. It lowers the individual income tax rate. For example, the 15% bracket is dropped to 12% and 25% is lowered to 22%. There are also no taxes on tips or overtime – one of President Trump’s campaign promises.
• Expanded family and child benefits. The child tax credit is permanently set at $2,000 per child. It also includes new MAGA savings accounts, with a $1,000 federal contribution for newborns.
• Health and wellness savings expansion. Health savings accounts (HSAs) can be used on more than just doctor’s visits and medications. Americans can apply them toward things like fitness memberships, direct primary care and spousal flexibility.