Other highlights include charitable contributions deductions, auto loan interest deduction for certain new vehicles, and increased deductions and credits for families. “Everyday taxpayers who received the standard deduction had no tax planning opportunities under the 2017 TCJA (Tax Cuts and Jobs Act),

The new tax cuts and spending law signed by President Trump on July 4 could provide savings for all income groups, an analysis finds.

The 'One Big Beautiful Bill Act' signed by President Trump introduces significant financial benefits for American families, including a permanent increase in the child tax credit. This legislation aims to provide long-term stability and support,

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).

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

The Democratic National Committee is showing where President Trump's bill could hurt people in the state, but the White House points to savings.

U.S. President Donald Trump's new tax and spending law is projected to deepen U.S. deficits by $3.4T over the next decade, the Congressional Budget Office said in a report published Monday. The nonpartisan CBO estimates the law,