Understanding the Big, Beautiful Bill

What is one of the surprising elements included in President Trump's bill?

• A new healthcare plan

• An increase in education funding

• Changes to property tax deductions

• A reduction in military spending

How does the bill affect the tax cuts from 2017?

• They are being increased

• They are being eliminated

• They are being extended

• They are being reduced

What is the proposed change to the SALT deduction under the new plan?

• It will be eliminated

• It will be increased to $20,000

• It will be reduced to $10,000

• It will remain unchanged

What is a significant change to Medicaid mentioned in the bill?

• Increase in funding

• Introduction of tougher work rules

• Expansion of coverage

• Elimination of the program

How does the bill affect Social Security taxation for certain income levels?

• It eliminates taxes on all benefits

• It reduces taxes for incomes under a certain limit

• It introduces a new tax on benefits

• It increases taxes on all benefits

What is the Senate's stance on green energy tax credits?

• They want to reduce them

• They want to eliminate them immediately

• They want to extend them

• They want to increase them

What is a potential benefit for workers in tip jobs under the new bill?

• Increased minimum wage

• Paid vacation days

• Mandatory health insurance

• Tax-free tips and overtime up to certain limits

What is a new potential deduction related to car loans?

• Deductible interest up to $10,000

• Deductible principal payments

• Deductible maintenance expenses

• Deductible insurance costs

What is a major concern regarding the bill's impact on the national deficit?

• It will have no impact on the deficit

• It will increase the deficit by $2.5 trillion

• It will reduce the deficit by $2.5 trillion

• It will balance the budget

What is the recommended action for individuals potentially affected by the bill?

• Consult a tax professional

• Rely on social media for information

• Ignore the changes

• Wait for further updates