It offers a temporary tax deduction, set to expire in 2028, of up to $6,000 for seniors. From January 1, 2025, to December 31, 2029, individuals may take a tax deduction for up to $40,000 of state and local taxes ($20,000 if married filing separately), which is an increase from $10,000 previously. A taxpayer is not required to itemize their tax deductions in order to take the tax deduction.

As an exception, the qualified business income deduction under 26 U.S.C. § 199A is not subject to the limitation. The deduction phases out for individuals with modified adjusted gross income (MAGI) exceeding $75,000 (or $150,000 for married couples). The tip must be given to a workers working one of 68 different job types.b The recipient of the tip must put their social security number on their income tax return to be eligible.

Adverse effects on public health

Overtime paid that is either paid voluntarily by an employer, is paid based on contractual agreements, or is only required by state or local laws is not eligible for the tax deduction. The law creates a new tax deduction of up to $12,500 ($25,000 if married filing jointly) of qualified overtime pay, effective January 1, 2025. The OBBBA includes several tax deductions for tips, overtime pay, auto loans, and creates Trump accounts, allowing parents to create tax-deferred accounts for the benefit of their children, all set to expire in 2028.

A procedural vote on July 2, 2025, while negotiations were ongoing off the House floor, was the longest vote in House history. Usually, the members of the majority party on the Rules Committee always vote to advance the bill to the floor. Fiscal conservative Republicans Chip Roy and Ralph Norman voted against advancing the bill. The House Rules Committee voted 7–6 on July 1, 2025, to advance the bill to the floor.

Charitable contributions that do not qualify for a tax deduction because of this change may be carried forward for five years. As of 2026, corporations may take a tax deduction for charitable contributions for the amount that exceeds 1 percent of its taxable income and does not exceed 10 percent of its taxable income. Beauty service businesses are now allowed a tax credit for the FICA taxes they pay on their employees’ tips that bring them up to the federal minimum wage. The law allows a tax deduction for restaurants and caterers for the cost of providing a free meal to workers while on shift. The law increases the CHIPS and Science Act’s tax credit for advanced semiconductor manufacturing from 25% to 35%. The law allows certain businesses to elect to claim a tax deduction for unamortized domestic research and experimentation costs in the first tax year beginning after 2024 or ratably over a two-year period.

Faced with a tie vote, Republican vice president JD Vance cast a tie-breaking vote in favor of the bill. All Senate Democrats voted against the bill, and Republicans Rand Paul, Thom Tillis, and Susan Collins of Maine broke from their party to vote against the bill as well. After an over 24-hour vote-a-rama, the bill passed the Senate on July 1, 2025, in a mostly party-line 51–50 vote. Before it could begin, Democrats required the clerks of the Senate to read the entire 940 page bill in order to highlight Medicaid cuts.

The law increases the funding for Immigration and Customs Enforcement (ICE) from $10 billion to more than $100 billion by 2029, making it the single most funded federal law enforcement agency. It permanently extends the individual tax rates Trump signed into law in 2017, which were set to expire at the end of 2025. These information returns enable taxpayers to claim the benefits of the vehicle loan interest deduction. This new tax benefit applies to both taxpayers who take the standard deduction and those who itemize deductions. (Both films’ plots center around a child who is magically transformed into an adult.) When the villain Doctor Sivana chases Billy Batson into a toy store, Billy unknowingly steps onto a Walking Piano and briefly plays it before being knocked out a window by Sivana. Prior to filming, Hanks spent time with Jared Rushton and David Moscow and attempted to emulate Moscow’s body language and acting style in order to make a convincing performance of being the adult version of the child actor.

• The estate, gift, and generation-skipping transfer tax exemption will increase from $13.99 million in 2025 to $15 million in 2026.
• The law increases the funding for Immigration and Customs Enforcement from $10 billion to more than $100 billion by 2029, making it the single most heavily funded law enforcement agency in the federal government.
• The law increases the tax deduction for whaling boat captains increasing maximum deduction from $10,000 of whale hunting expenses up to $50,000.
• Effective January 1, 2026, the tax benefit for charitable contributions made by an individual that itemizes their tax deductions is limited to 35% of the amount contributed, even if they are in a marginal tax bracket higher than 35%.
• The publication of the telegram caused an uproar, and American opinion began to swing in favor of entering the war against Germany.
• Democratic opposition to the health spending cuts included in the OBBBA contributed to the 2025 United States federal government shutdown.
• The war pitted the Central Powers—mainly Germany, Austria-Hungary, and Turkey—against the Allies—mainly France, Great Britain, Russia, Italy, Japan, and, from 1917, the United States.

What was the main cause of World War I?

Government Accountability Office, roughly 70% of adults enrolled in Medicaid and Supplemental Nutrition Assistance Program work at least 35 hours per week; they qualify for assistance because they have low income rather than no income. It also described it as filled with « a series of novel, populist and temporary cuts that Mr. Trump cooked up during the 2024 campaign to try to win the support of key constituencies » and that it was ultimately an « apotheosis of a traditionally conservative, supply-side philosophy ». It criticized the political nature of the bill, calling it filled with carve-outs and political gimmicks that increased the complexity of the tax code.

Further CBO analysis released August 11, 2025, estimated that the highest 10% of earners would see incomes rise by 2.7% by 2034 mainly due to tax cuts, while the lowest 10% would see incomes fall by 3.1% mainly due to cuts to programs such as Medicaid and food aid. Other moderates such as John Curtis of Utah and Thom Tillis of North Carolina, along with Murkowski and Moran, expressed concerns over the end of green energy tax credits. The resolution would allow Republicans to pass a budget containing tax cuts while reducing federal spending.

For qualified production property of a taxpayer, the law makes permanent a 100% Section 179 depreciation deduction for the adjusted basis for the property acquired after January 19, 2025. Public companies are not allowed to take a tax deduction for compensation paid to certain executives that exceeds $1 million per year. The tax credit for installing solar electric panels, solar water heaters, wind turbines, geothermal heat pumps, fuel cells, or battery storage technology in one’s home will no longer be available for improvements made after December 31, 2025. The tax credit for making qualified energy-efficient improvements to one’s home will no longer be available for improvements put into service after December 31, 2025. The tax credit for installing property to either recharge electric vehicles or to store or dispense clean-burning fuel will no longer be available after June 30, 2026.

‘Big Brother’ stars react to Mickey Lee’s ‘devastating’ death

Employers are allowed to contribute to their employees’ accounts and their employees’ children’s accounts, up to $2,500 per year. Any individual is allowed to contribute to a child’s account, up to $5,000 per year per child. The law reverses aspects of Medicare’s price negotiation program, allowing more drugs to be purchased without negotiation and increasing costs for consumers. The original House bill proposed a tax of up to 21% with no exemptions based on size. Colleges with more than 3,000 students and an endowment per student ratio of $500,000 would be taxed starting at 1.4%, with the tax rate increasing to 8% for the wealthiest colleges.

• « Outside of the house, we reaffirmed our friendship, and that meant more to me than you’ll ever know, » Heagerty continued.
• After the vote, Reuters reported that non-partisan analysts believe that the resolution, if enacted as currently written, would add $5.7 trillion to the national debt of the United States over the next 10 years.
• After Jack says he wishes to know his major, Alyssa quickly warns him that Zoltar is a « bit of a trickster » who « grants your wishes ironically. » The machine is among the artifacts stolen by the demon summoned by the Knights of Saint Christopher.
• A payor must report payments for goods or services via payment apps, online marketplaces, and payments from credit, debit, or gift cards to the Internal Revenue Service and the payee on Form 1099-K.
• Further CBO analysis released August 11, 2025, estimated that the highest 10% of earners would see incomes rise by 2.7% by 2034 mainly due to tax cuts, while the lowest 10% would see incomes fall by 3.1% mainly due to cuts to programs such as Medicaid and food aid.
• These information returns enable taxpayers to claim the benefits of the vehicle loan interest deduction.

For employer-reimbursed bicycle commuting benefits, these payments are considered taxable income to the employee. Employer-paid moving expense benefits were temporarily considered taxable income to the employee, but they are now permanently taxable income. As of January 1, 2026, the employer-provided childcare credit (26 U.S.C. § 45F) is increased from 25% to 40% (or 50% for eligible small businessesn) of qualified childcare expenses. The law increases the funding for Immigration and Customs Enforcement from $10 billion to more than $100 billion by 2029, making it the single most heavily funded law enforcement agency in the federal government.

The outbreak of war

The proposed regulations issued today relate to a new deduction for interest paid on vehicle loans incurred after Dec. 31, 2024, to purchase new made-in-America vehicles for personal use. After Jack says he wishes to know his major, Alyssa quickly warns him that Zoltar is a « bit of a trickster » who « grants your wishes ironically. » The machine is among the artifacts stolen by the demon summoned by the Knights of Saint Christopher. The fictional Zoltar Speaks fortune-telling machine portrayed in the film was modeled after the real-life 1960s machine Zoltan, the name differing by one letter. On September 30, 2014, Fox announced that a television remake, loosely based on the film, was planned.

Republicans did not secure these votes until May 21, when the bill was amended. Roy, Norman, Clyde, and Brecheen changed their votes to present after House Republican leadership agreed to make Medicaid work requirements—previously scheduled to begin in 2029—kick in sooner and decrease future subsidies for clean energy. Republican Lloyd Smucker of Pennsylvania changed his vote from yes to no so that he would be allowed to bring a motion to reconsider the bill at a later time.

The law phases out tax credits passed in the Biden-era Inflation Reduction Act. The law cuts over $1.2 trillion in federal spending, primarily from the low-income health insurance program Medicaid and the nutrition funding program SNAP. The law increases the tax deduction for whaling boat captains increasing maximum deduction from $10,000 of whale hunting expenses up big four ww1 to $50,000.

Other Tom Hanks & Penny Marshall movies

The war was welcomed either patriotically, as a defensive one imposed by national necessity, or idealistically, as one for upholding right against might, the sanctity of treaties, and international morality. Few people imagined how long or how disastrous a war between the great nations of Europe could be, and most believed that their country’s side would be victorious within a matter of months. The outbreak of war in August 1914 was generally greeted with confidence and jubilation by the peoples of Europe, among whom it inspired a wave of patriotic feeling and celebration. Thereupon, Great Britain, which had no concern with Serbia and no express obligation to fight either for Russia or for France but was expressly committed to defend Belgium, on August 4 declared war against Germany. On August 1 Germany ordered general mobilization and declared war against Russia, and France likewise ordered general mobilization.