4 Winners Of The New ‘Big Beautiful Bill’

Wage increases, tax cuts, credits and deductions. These are some of the benefits Trump will likely mention as he signs his “big, beautiful bill” into law today.

Less than six months after taking office for the second time, President Donald Trump notches a huge win for his presidency and his legislative agenda. What Trump has dubbed as his big, beautiful bill—and is officially named The One Big Beautiful Bill Act—passed both chambers of Congress Thursday, and he will sign it into law today.

Despite exposing rifts within the GOP over cuts to Medicaid and expanded work requirements for food stamps, the bill—which solidifies Trump’s tax cuts and provides billions for immigration enforcement—has been sent to Trump for signature.

And, despite breaking against Republican calls for fiscal accountability, the big, beautiful bill (which raises the nation’s debt limit by $5 trillion) made it across the finish line before President Trump’s self-imposed July 4 deadline.

Here are some of the biggest winners.

1. Trump wins big with his big, beautiful bill.

This bill makes many of President Trump’s campaign promises a reality. When the Republicans in Congress passed this bill, they secured a big, beautiful legislative win for Trump and his legacy.

Not only did Donald Trump get this bill passed through both chambers of Congress, he got it done before his (arbitrary and self-imposed) July 4 deadline. This was no small feat and speaks volumes to the power Trump wields over his party and his ability to persuade and lead people to action.

As late as Wednesday, there remained several GOP holdouts to the bill, but after meeting with the president at the White House, many shared that they had been persuaded to vote for the bill despite their dislikes, doubts and hesitations.

For all the controversy over Trump’s leadership style and communication methods, one thing is sure. He gets the results he wants and has demonstrated a keen ability to set a narrative and effect change. Trump has an unusual ability to compel others—including many of his fiercest critics—to get in line and back him and his vision and agenda.

Despite threats by Elon Musk to primary conservatives who voted for the bill, Congress moved forward with passage. Donald Trump was laser focused on a goal, and he achieved it. He succeeded at getting his party (in both chambers) to deliver this bill to his desk even after they openly complained about components of the bill.

This is a clear win for Trump and represents the president’s signature domestic achievement thus far.

2. Employers: corporations, small businesses and manufacturers notch wins after Trump signs.

Trump’s 2017 Tax Cut and Jobs Act provided tax breaks that were set to expire this year. After Trump signs the newly passed bill today, these tax cuts—which skew heavily to the benefit of high-income earners and businesses—will become permanent.

Employers, corporations, small businesses and manufacturers stand to reap big benefits. Trillions of dollars in corporate tax cuts (first enacted by Trump in 2017) as well as expansions of other business tax breaks will become permanent. According to NBC News, this includes

permanently lowering the corporate tax rate to 21% from the 35% level before the 2017 tax cuts. The bill would also extend or increase other tax breaks for business investments, like those on new machinery, equipment and research and development, which business groups have said would encourage business investments in the U.S. The bill would also extend through 2033 tax incentives enacted in 2017 for businesses that invest in disadvantaged areas, called Opportunity Zones.

In addition to the tax cuts, businesses (employers) will be permitted to continue writing off equipment costs and expenses in the first year of purchase. The bill reinstates the ability for businesses to write off expenses for research and development in the year they are incurred as well.

Further, PBS News reports that manufacturing companies will benefit from provisions in the law that will allow them to “fully and immediately deduct the costs of new manufacturing plants,” and it incentivizes these companies to produce semi-conductors.

3. High-income earners will see financial gains when Trump signs the bill.

As with businesses, high-income earners who have benefitted from Trump’s 2017 tax cuts will continue to benefit as the new bill makes these tax cuts permanent.

High-income earners typically refer to those earning $160,000 a year or more but (depending on context) can also include those earning $100,000 and up.

These earners stand to see financial gain with the SALT (state and local tax) deduction. Homeowners who have higher property taxes benefit from a higher SALT cap, and the big beautiful bill increases this cap from $10,000 to $40,000.

It is notable, however, that there was no cap in place at all before Donald Trump capped SALT at $10,000 when he signed the 2017 Tax Cut and Jobs Act. Prior to this, homeowners could deduct 100% of their property taxes via SALT. Those deductions have been limited to $10,000 because of the 2017 law.

Now, with the big, beautiful bill, Trump provides more financial relief by increasing his cap from $10,000 up to $40,000. This, as well as the tax cuts, allows high-income earners to deduct more taxes and keep more income.

4. Employees earning overtime and tip income will see tax breaks because of Trump’s bill.

The big, beautiful bill provides a three-year tax break for employees who earn wage income via tips and overtime. Basically, the bill allows those who earn up to $300,000 (married filing jointly) and up to $150,000 (other filers) to deduct between $12,500 up to $25,000 depending on filing status and income level.

Regarding tip income, it’s expected that about 2% of U.S. households will benefit from this tax break, and the benefit can be meaningful for those who’ll experience it.

According to Bankrate,

approximately 60 percent of households that report having tip income would benefit (that translates to about 2 percent of all U.S. households enjoying this tax break), and their tax bills would drop by an average of $1,800 a year, according to the report. An average of $1,800 a year is not nothing. But that reward wouldn’t go to the lowest-earning households. Of those households making less than $33,000 a year, just 1.4 percent of households would benefit, and for those households, their after-tax income would rise by $450 a year on average.

The celebratory bill signage for Trump’s big beautiful bill.

Trump successfully pushed through a bill that many conservatives have wanted for decades. Chris Stein with The Guardian expresses it this way,

For decades, Republicans have argued that the US would be better off it taxes were low, and programs to help low-income Americans were harder to access. With Donald Trump’s marquee tax and spend bill now set to become law, the country will find out what it’s like to live under that sort of system.

No congressional Democrats voted for the big beautiful bill, but that did not matter because after all was said and done, Republicans delivered this win for their party and for President Donald Trump.

The president will sign the bill into law at 5 p.m. EDT on Friday, and he’s doing it up big. Thursday, Trump told reporters with him on Air Force One that, “we’ll be signing with those beautiful planes flying right over our heads.”

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