Donald Trump’s ‘One Big Beautiful Bill’: Who benefits, who loses, and who pays the price?

On 1,116 pages, Trump’s latest tax plan has been promised, but not everyone comes to the top. US President Donald Trump’s large -scale new tax proposal, titled The One Big Beautiful Bill Act, is making waves in Washington. Bill on Thursday passed the House of Representatives from the 215-214 Razor-Patli Margin.It now goes to the Senate, where further changes are likely to happen.The purpose of this scheme is to make Trump’s 2017 tax deduction permanent, overhala many tax rules, and change big expenses. Although this provides some benefits to American homes, experts warned that the biggest profit will be the most rich, while low -income groups can lose, USA Today reports. The Congress Budget Office (CBO) and independent analysts have already taken a look at who stands to win and who stands to lose.Winner: Who gets benefits under Trump’s Plan-Income EarlierAccording to the Nonpartison Tax Policy Center, people earning $ 217,000 or more in a year will see the biggest tax brakes. The Center found, “Bill will cut an average in $ 2,800 in 2026,” the Center found that the people are going to those who grossed over $ 1.1 million annually with a quarter cut.Family with childrenChild tax credit will increase from $ 500 to $ 2,500 via 2028 before falling to $ 2,000. But there is a grip – about 4.5 million children can be disqualified under new rules, both parents need to perform social security numbers.Additionally, parents of children under eight years of age will receive $ 1,000 per child to open special savings accounts called “Maga” accounts, which are less for money accounts for growth and investment.Car buyerAmerican purchase can come up with allowances. Bill car loan allows temporary tax deduction of up to $ 10,000 in interest-but only for American-made vehicles.Overtime earning workersOvertime Pay will no longer be taxed under the new scheme. This includes federal and state income tax, as well as social security and medicare cuts. A study by the Tax Foundation and Yale’s budget lab shows that this change can reduce federal revenue by $ 866 billion between 2025 and 2034.WorkingThe waiter and other talleys given employees will also benefit – tips will not be taxed. Although tips are often underestimated, IRS estimates that businesses have been minimized as $ 23 billion. This tax break on tips will end after 2028.Losers: Who is paying the priceLow -income AmericanPeople who earn under $ 50,000 per year may deteriorate. People with an annual income between $ 17,000 and $ 51,000 may lose about $ 700, and people earning less than $ 17,000 may lose more than $ 1,000. These disadvantages will be mainly produced from cuts to assistance programs such as Medicid, Food Stamp (SNAP) and student loan support.Snap and Medicade recipientThe CBO said that Bill cut $ 698 billion from Medicid, which could leave 7.6 million Americans without health insurance in the next decade. SNAP will face a deduction of $ 267 billion with additional work requirements for recipients between 55 and 64 years of age. Currently, around 42 million Americans rely on food tickets.Students and families with education loanThe student loan forgiveness rules presented under the President Joe Biden will be canceled. The number of repayment schemes will shrink only two. This bill can also captivate parents and undergraduate amounts, and can eliminate loans for future graduate students.federal budgetDespite all the cuts, the bill can still increase the federal deficit to $ 3.8 trillion from 2026 to 2034 according to the CBO. This figure factor in extended tax deduction and resulting declining in government revenue.Unlocked immigrantsThe plan includes an increase in standing fees for navigating the immigration system. Refugee will face an application fee of $ 1,000 and $ 500 payment for work permits every six months. Hundreds of dollars will also be charged to the immigrants to appeal to the decisions of the court. States will be discouraged by using local funds to provide medicines to unspecified children.