How Trump’s ‘Beautiful’ Tax Bill Shifts Americans’ Finances

May 23, 2025, 2:10 PM UTC

House Republicans on Thursday narrowly passed what they’re calling the “One Big Beautiful Bill,” which consists of more than 1,000 pages of legislation making changes to everything from immigration and environmental policy to health insurance and taxes.

The bill now heads to the Senate, where significant changes are likely. GOP lawmakers are hoping to send a final version to President Donald Trump for his signature sometime this summer.

In the meantime, here’s a look at how the legislation would affect Americans’ personal finances.

No rate hike, and more breaks for business owners

The bill would avoid scheduled tax increases ...

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