What You Should Do as the BBB Is Already Saving You Money & The America Party – Top 3 Takeaways July 7th, 2025
Takeaway #1: The Second Most Efficient President in US History
Friday’s Independence Day was unlike any other in American history. That’s because the BBB was delivered to President Trump allowing him to effectively accomplish his second term agenda in fewer than six months on the job. Trump has been president for 167 days. During that time, he’s signed 166 executive orders, 44 memoranda, 71 proclamations and five laws...including, of course the Act formerly known as the BBB – which was central to President Trump’s Independence Day festivities. To put this into context, the only other President in American history to enact more of his agenda, more efficiently than President Trump, was FDR – who came into his presidency during the Great Depression and had the New Deal passed within his first week as president and issued a slew of executive actions around it within his first 100 days. Other than FDR, no president, not even Washington, has worked as quickly or as efficiently to achieve their policies. This is even more remarkable when you consider that the current Congress (119th), has established the narrowest governing majority by a single party in U.S. history. By way of comparison, FDR had it made politically as his party, Democrats, occupied 70% of congressional seats when he became president in 1933. So, what we’ve seen culminating with the signing of the BBB hasn’t just been history in the making...but arguably the most effective start to a presidency in American history given the political makeup in Washington, D.C.
Takeaway #2: The BBB is already saving you money
About now there’s a good chance you’re wondering what exactly the BBB means to you and how the tax benefits will apply to you. One of those answers is easy...the other may require your tax preparer to accurately answer. In today’s Q&A I’ll walk you through what the BBB means to you in broad terms in a few of the key categories of interest. But all in there are changes to 27 different categories of IRS things that impact personal taxes. In other words, the changes will impact almost every tax filer. What this almost certainly means is lower taxes for you! Better still, almost all of the tax changes were made retroactive to January 1st of this year – meaning you’ve already been saving money on your taxes throughout the year. The key to understanding the additional Trump tax cuts on tips, overtime, Social Security, auto loans, child tax credits – you name it – is understanding what the new deductions and tax credits mean to you. This is why you’ll probably need a tax pro to really know how much dough you’ll be doling out to Uncle Sam... but it’s not something that should likely wait until you file your taxes next Tax Day. The way for you to be able to benefit immediately from the tax savings you’ll see from the BBB, is to adjust your federal withholding levels quickly. Due to the new and additional tax savings mostly coming in the form of deductions and credits, having a conversation with your tax preparer about how much you stand to save and adjusting your federal withholding levels accordingly could mean immediate savings rather than waiting for your money to be returned to you in the form of an interest free loan to the IRS that comes back in the form of a large tax refund. For most people that’s probably the way this will go down, but in the event, you want to be savvy with your money, taking a little time today to figure this out can put more money in your pocket next payday.
Takeaway #3: The America Party
As Elon Musk had effectively promised with the passage of the BBB, he’s created a new political party known as the “America Party”. It’s an interesting dynamic for a South African immigrant to seek to revolutionize our two party system. In any event, Elon spent the weekend talking up and reposting comments from others on what his newly established America Party seeks to do. One is to target vulnerable congressional seats to attempt to establish a bloc of swing votes starting in the next Congress. He established a baseline that it’s his goal in time for the Democrat Party to become the “3rd Party” choice. The platform he endorsed is this: reduce debt, responsible spending only -modernize military with ai/robotics -pro tech, accelerate to win in A.I. -less regulation across board but especially in energy -free speech -pro nationalist -centrist policies everywhere else. He also indicated that pulling this off will be easier than most people think while reposting a reminder about what people previously said he couldn’t do: Tesla will never succeed > Elon can't start a space company > Neuralink will never work > SpaceX will never reuse a rocket > Elon can't run a social media (company)-- > SpaceX won't occupy Mars > Tesla won't solve autonomy > Elon can't do politics. For the record Neuralink still freaks me out in a potentially Biblical way, but otherwise there’s an awfully good point being made. If anyone can pull this off, it’s probably him. Next year’s election cycle could be one of the more interesting we’ve seen in midterm election history.