Hidden Gems in the Big Beautiful Tax Bill

We rate the House-passed tax legislation as a good bill, not a great bill. We grade it a B and Steve Forbes rates it as: “needs improvement.”

 

That said, we cherry-picked some of our favorite, unheralded items from a White House document 50 Wins in the One Big Beautiful Bill that we suspect you aren’t aware of:

      • Implements work requirements for able-bodied Americans receiving taxpayer-funded benefits.
      • Reverses electric vehicle mandates set by  radical climate activists.
      • Opens federal lands and waters to oil, gas, coal, geothermal, and mineral leasing.
      • Expands tax relief for small businesses by increasing the profits tax deduction to 23%.
      • Renews and expands 100% immediate expensing for equipment and machinery.
      • Increases the endowment tax on large universities.
      • Cancels Biden’s illegal, unfair student loan bailouts.
      • Requires states to pay a higher match for food stamps and strengthens work requirements.
      • Expands health savings accounts to give Americans greater choice and flexibility in how they spend their money.
      • Incentivizes school choice scholarships that empowers American families and students to choose the education that best fits their needs.
      • Ends requirement that Venmo, PayPal, and others report transactions over $600 be reported to the IRS.
      • Holds universities financially accountable to the government on defaulted federal student loans.
      • Increases timber sales on federal lands.
      • Authorizes the sale of expanded spectrum to strengthen rural broadband and secure America’s technological dominance.

That’s pretty big and beautiful. We’ll highlight what we like least in this 1000-page bill at a later date.

 

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