Tax Exemption, Beautiful Bill
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Visitors to the United States will need to pay a new fee to enter the country, according to the Trump administration’s recently enacted bill.
I'm David Westin, and this week our special contributor, Larry Summers of Harvard, goes over the “One Big Beautiful Bill,” and we take a look inside what President Donald Trump's threatened tariffs could mean for the US wine industry.
For future medical students, whose education is notoriously expensive, the changes could be particularly worrying: The median cost for a medical student’s education at private school is $390,848, while the median cost for in-state public school is $286,454, according to the Association of American Medical Colleges.
As a candidate, Trump promised to lift taxes on overtime. The new law allows workers to deduct up to $12,500 in overtime compensation (for single filers) or $25,000 (for joint filers). This deduction phases out for income levels between $150,000 and $275,000 (for single filers) and $300,000 and $550,000 (for joint filers).
An analysis by the Maryland Department of Health projects an annual loss of $2.7 billion because of changes to Medicaid.
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Together with the annual appropriation process, the One Big Beautiful Bill provides the Trump administration the resources it needs to make all Americans safer. Both bills will finally secure our borders, strengthen our national security, and deliver on promises made to the American people.
Trump's One Big Beautiful Bill cuts taxes, boosts border security, and reforms Medicaid—now the GOP must win the messaging battle.