Congress passed President Donald Trump‘s tax and spending package deal Thursday, ushering in main modifications to Individuals’ funds.
The GOP’s marquee “one huge lovely” invoice makes Trump’s 2017 tax cuts everlasting whereas including a senior “bonus” together with a bigger state and local tax deduction and better property and reward tax exemption.
Amongst different tax provisions, the megabill additionally contains breaks for tip income, extra time pay and auto loans, in addition to the creation of a brand new tax-advantaged financial savings account for youngsters.
The chart beneath outlines these key tax modifications and how they could impact your wallet.
- Advertisement -