• Home
  • News
  • Personal Finance
    • Savings
    • Banking
    • Mortgage
    • Retirement
    • Taxes
    • Wealth
  • Make Money
  • Budgeting
  • Burrow
  • Investing
  • Credit Cards
  • Loans

Subscribe to Updates

Get the latest finance news and updates directly to your inbox.

Top News

Trump threatens to fire Fed Governor Cook if she doesn’t resign

August 24, 2025

3 Tips About Retirement And Time Management

August 24, 2025

10 Common Mistakes People Make When Cooking Chicken

August 24, 2025
Facebook Twitter Instagram
Trending
  • Trump threatens to fire Fed Governor Cook if she doesn’t resign
  • 3 Tips About Retirement And Time Management
  • 10 Common Mistakes People Make When Cooking Chicken
  • Side Gigs That Can Resist AI and Automation Takeover
  • Why I Make Time for Lunch With Someone New Every Day
  • The ‘Boring’ Side of AI That Could Make You a Fortune
  • Your Competitive Edge Is a Multi-AI Platform for Just $80
  • AI-Powered Planning Tools Designed for Serious Growth
Sunday, August 24
Facebook Twitter Instagram
Indenta
Subscribe For Alerts
  • Home
  • News
  • Personal Finance
    • Savings
    • Banking
    • Mortgage
    • Retirement
    • Taxes
    • Wealth
  • Make Money
  • Budgeting
  • Burrow
  • Investing
  • Credit Cards
  • Loans
Indenta
Home » How Trump’s tax bill will affect your money
Personal Finance

How Trump’s tax bill will affect your money

News RoomBy News RoomMay 25, 20250 Views0
Facebook Twitter Pinterest LinkedIn WhatsApp Reddit Email Tumblr Telegram

President Donald Trump’s “big, beautiful bill” cleared the House and is making its way through the Senate. 

Still, critics point out the bill, which is over 1,000 pages, will add trillions to what is already ballooning government debt hovering at $36 trillion and deficits. However, U.S. Treasury Secretary Scott Bessent believes this can be managed. 

“We think that we can both grow the economy and control the debt. What’s important, Bill, is that we grow the economy faster than the debt. What I would tell your viewers to focus on, what I am focused on, what Secretary Yellen was focused on is what is the total debt to GDP because we can grow our way out of this,” Bessent said during an appearance Friday on Fox’s “America’s Newsroom” with Bill Hemmer. 

NATIONAL DEBT TRACKER: AMERICAN TAXPAYERS (YOU) ARE NOW ON THE HOOK FOR $36,214,475,432,210

Still, the bill contains several provisions that will benefit American workers and everyday households. FOX Business explains how your money may be affected. 

NO TAX ON TIPS

Hardworking Americans won’t have to pay taxes on the tips they make. While this is good for service employees, it may mean lost revenue for the government…continue reading here

401(k) FOR BABIES & CHILD TAX CREDITS

Typically, you start a 401(k) when you begin working, getting matched contributions from your employer. The bill may expand similar investment vehicles to newborns and other child tax credits…continue reading here.

trump tax bill, child tax credit

SALT

High-tax blue states, such as New York, likely secured a win with a big bump for SALT, a deduction for state and local taxes, previously capped at $10,000…continue reading here

SALT deduction to rise

AUTO LOANS INTEREST FREE  

If you own or buy a car made in the U.S. using an auto loan, the interest is on track to be eligible for a deduction…continue reading here.

no tax on auto loan interest

MEDICAID SAFE? 

Trump made it clear the Medicaid program, which provides basically free health insurance to Americans who meet income requirements, won’t be gutted. Not everyone is convinced…continue reading here

Medicaid changes, Trump tax bill

FOOD STAMPS

Changes to food stamps and nutrition assistance, formerly known as SNAP, or the Supplemental Nutrition Assistance Program, are part of the tax bill. Here’s what may change…continue reading here

"SNAP/EBT Food Stamp Benefits Accepted" is displayed on a screen

Read the full article here

Featured
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Articles

Trump threatens to fire Fed Governor Cook if she doesn’t resign

Mortgage August 24, 2025

3 Tips About Retirement And Time Management

Retirement August 24, 2025

10 Common Mistakes People Make When Cooking Chicken

Burrow August 24, 2025

Side Gigs That Can Resist AI and Automation Takeover

Make Money August 24, 2025

Why I Make Time for Lunch With Someone New Every Day

Make Money August 24, 2025

The ‘Boring’ Side of AI That Could Make You a Fortune

Investing August 24, 2025
Add A Comment

Leave A Reply Cancel Reply

Demo
Top News

3 Tips About Retirement And Time Management

August 24, 20250 Views

10 Common Mistakes People Make When Cooking Chicken

August 24, 20250 Views

Side Gigs That Can Resist AI and Automation Takeover

August 24, 20250 Views

Why I Make Time for Lunch With Someone New Every Day

August 24, 20250 Views
Don't Miss

The ‘Boring’ Side of AI That Could Make You a Fortune

By News RoomAugust 24, 2025

Entrepreneur Most people building with AI are chasing the same thing: viral chatbots, cool demos…

Your Competitive Edge Is a Multi-AI Platform for Just $80

August 24, 2025

AI-Powered Planning Tools Designed for Serious Growth

August 24, 2025

Turmoil In Medicare Advantage Plans Continues

August 23, 2025
About Us

Your number 1 source for the latest finance, making money, saving money and budgeting. follow us now to get the news that matters to you.

We're accepting new partnerships right now.

Email Us: [email protected]

Our Picks

Trump threatens to fire Fed Governor Cook if she doesn’t resign

August 24, 2025

3 Tips About Retirement And Time Management

August 24, 2025

10 Common Mistakes People Make When Cooking Chicken

August 24, 2025
Most Popular

Simple Mistake Costs Estate Big Tax Break

August 17, 20253 Views

Trump threatens to fire Fed Governor Cook if she doesn’t resign

August 24, 20250 Views

3 Tips About Retirement And Time Management

August 24, 20250 Views
Facebook Twitter Instagram Pinterest Dribbble
  • Privacy Policy
  • Terms of use
  • Press Release
  • Advertise
  • Contact
© 2025 Inodebta. All Rights Reserved.

Type above and press Enter to search. Press Esc to cancel.