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Soy Aire on MSNTax Savings: The One Big Beautiful Bill Act's Impact on Your Finances
Starting in 2025, the One Big Beautiful Bill Act (OBBBA) introduces historic tax cuts, making key provisions from the 2017 Tax Cuts and Jobs Act permanent while adding new benefits. From enhanced deductions to expanded credits,
The Sacramento Bee on MSN1d
Trump Announces Senior Tax Deduction
President Donald Trump has promoted a new $6,000 senior tax deduction and pledged to protect Social Security, and Commissioner Frank Bisignano has outlined efforts to modernize the system. Analysts have warned about risks of insolvency and unequal benefit distribution,
In tax year 2025, an individual filer over 65 will be able to deduct up to $23,750 from their income tax return.
A new government report reveals that President Donald Trump's One Big Beautiful Bill Act will add $4.1 trillion to federal deficits over the next decade, significantly more than previously projected.