2017 GOP Tax Cut & Jobs Act EXTENDED via Trump’s One Big Beautiful Bill Act (OBBA). Signed Into Law On July 4, 2025

[Reality]

are you considering the loss of local and state deduction?

Yeah, state income tax deduction was the only one I could claim, and I've only claimed it in the past because I had other itemized deductions that made it worth it.

The new standard deduction is big enough to make that loss inconsequential. The reform on the middle tax rates is a pretty decent boon to me though.

 

[Reality]

I was just comparing the basic tax chart at the beginning of the income tax return. Of course, everyones situation is different. It will depend on what other deductions a person has. More then likely, people have kids so they will have less deductions given. Might be good for you, you may fall in one of those sweet spots. Most of America wont be so lucky

Fair enough, that's why I qualified it the way I did. If you're young and single and don't own a home, you're probably winning on this one unless you have hefty student loan debt.

 

[LeVraiPapi]

So, they reducing child credit and homebuyer credit ?

Like who the hell does that ?

Please burn these fools already.

 

[FAH1223]

 

[FooFighters]

Bruh I just might slash the tires on the next car I see with a Trump sticker...

Key their car if you can because this is some fukkin bullshyt

 

[FooFighters]

I don't get why these fukks are pro-life but approve of the death penalty

 

[FAH1223]

 

[Uncle Phil 36]

I don't get why these fukks are pro-life but approve of the death penalty

Biggest hypocrites

 

[the cac mamba]

so lets say i know someone who makes around 50k a year, lives in a state with state income tax, and rents. single, no kids. pretty average

looks like a slight tax cut? or am i wrong about that?

 

[GnauzBookOfRhymes]

This bill is not going to pass. Dead. Take it to the bank. Even right wing idiots are shytting on this bill when it becomes perfectly clear to them that trump is subsidizing HIS tax cuts by killing off various deductions that we've all come to know and love.

 

[GnauzBookOfRhymes]

Even Wall Street Journal is shytting on the bill.

Half a Tax Reform

 

[☑︎#VoteDemocrat]

 

[☑︎#VoteDemocrat]

 

[acri1]

So I heard that if this passes, I won't be able to write off student loan interest any more because that's a "special interest".

Cot damn Republicans

 

[88m3]

I haven't checked the conservative think tanks but I doubt many of them even support this bill albeit the love the corporate handouts I'm sure