Want Lower Taxes? The BBB is a Beautiful Thing – July 1st, 2025
Takeaway #1: Your Wallet’s Getting a Big Break
The Bern huffed and puffed, Pocahontas whined, Tom Tillis sided with the slugs (those who don’t believe in Medicaid or SNAP work requirements), Elon Musk has now promised to primary any Republican who ran on lower deficits (and defeat them if it’s the last thing he does on earth – while also suggesting we need a third party once again) and after a massive vote-a-rama session yesterday in the senate – that didn’t produce encouraging results, the BBB and President Trump’s agenda’s future is still stuck in the senate. But it’s not just Trump’s agenda that’s on the line. It’s huge money for you. Remember during the debate and the lead up to President Trump’s 2017 Tax Cuts and Jobs Act how you were routinely lied to by fake news? Remember how you were told that it would only be tax cuts for the rich and higher taxes for you? The lying was so pervasive that early on, that even after the new tax policy was in place, only 17% of Americans polled by NBC News and the Wall Street Journal thought that they were getting a tax break. In reality, over 80% of Americans saw a tax break, with average savings of $2,100 per tax filer within the first year. That’s a number that’s only grown over the past seven and a half years. And surprise, surprise, the GSS media has been at it again. But let’s start with the bottom line: the One Big Beautiful Bill Act is a financial lifeline for the average household. This bill makes permanent the original Trump tax cuts, the Tax Cuts and Jobs Act, with individual tax rate reductions, which were set to expire and would’ve jacked up federal income taxes by 22% for the average filer. That’s a savings of $3,908 per year for the typical household compared to what you’d pay if those cuts vanished. But wait, there’s more...much more —84% of households will see additional tax cuts beyond the current policy, averaging $2,900 annually. Add it up, and we’re talking $6,808 at stake for the average family. This comes from a beefed-up child tax credit (locked at $2,000 per child, bumped to $2,500 through 2028, helping over 40 million families), no federal taxes on tips or overtime pay through 2028 (saving eligible workers $1,750 a year), and a higher standard deduction ($16,000 for individuals, $32,000 for married couples starting in 2026). That’s real money staying in your pocket, not Washington’s.
Takeaway #2: The new stuff
This bill isn’t a one-size-fits-all deal—it’s packed with targeted breaks for specific folks who need it most. Seniors over 65 get a major boost, with their additional standard deduction jumping from $2,000 to $6,000. That’s an extra tax cut of about $1,000 for single filers and $2,000 for married couples filing jointly—huge for those on fixed incomes. If you’ve got an auto loan, you’re in for a new deduction averaging $475 a year in tax savings. And for the 91% of taxpayers who take the standard deduction, the increase to $16,000 for individuals and $32,000 for married couples (starting in 2026) shields more of your income from taxes, compared to a potential drop to half that amount if the TCJA expired. Servers, bartenders, and anyone earning tips or overtime get a huge additional break too, as Trump promised there’s no federal taxes on tips and overtime through at least 2028. Whether you’re a young parent, a retiree, a driver, or are hustling for tips and overtime... the BBB offers the most to you.
Takeaway #3: The bottom line
Here’s the deal: if/when this bill passes the Senate, the fight is clearly not over in the House where its status is even less clear as the House Freedom Caucus put out a statement that they’re not onboard with senate changes. With $6,808 on the line for the average household—a choice between a $3,908 tax increase if the TCJA expires or an additional $2,900 tax cut with this bill—your representatives need to know where you stand. This week’s decision is monumental, but future tweaks or challenges to this law could come fast. As I always say, there are two sides to every story, but only one side to the facts. These are the facts: the OBBBA saves you money, protects your income, and delivers relief across the board. Call or email your House rep and let them know you support keeping these tax cuts in place. Tell them you want the child tax credit, the senior breaks, and the no-tax-on-tips or overtime policy. Tell them you want the Trump administration to have the resources to finish the southern border wall, to carry out mass deportations of illegal immigrants. Tell them you voted for President Trump’s agenda not their agenda. And you can also tell them to just say no to slugs.
The One Big Beautiful Bill Act is a win families, seniors, workers, and anyone with a car payment. It’s about keeping more of your hard-earned money where it belongs—in your pocket. Stay informed, keep the pressure on your reps, and let’s make sure they do what needs to be done to give Trump and you the tools to Make America Great Again, Again.