Over the Fouth of July Weekend, President Donald Trump Signed The So-Called “Big Beautiful Bill” Into Law. You've probably heard that it contains deep cuts to medicoid spending and other social safety net programs, and that millions of people are expected to lose their health insurance. It's no secret that the sprawling policy package ENSHRINES AND EXPANDS Huge Tax Cuts For the Wealthy and Provides Billions to Superchrge The Administration's Campaign of Mass Deportation. But the Bill is over 900 Pages Long, and the Top-Lies Items Barely Manage to Scratch the Surface of Its Content.
Underneath Its Attacks The Poor and Working Class, The Big Beautiful Bill is Packed to the Gills with Handouts to the Ultra-Rich, Boons to Special Interest Groups, and Checkbox Provisions for Corporations and Lobbyists.
Tax deductions for Private Jets, The Potentiial Elimination of Irs Free File, and Caps To The Amount Students Can Take Out in Loans to Pay For Their Education May Not Be Getting the Same Amount of Attention As the Millions Expected to Lose Their Health Care, But they are just some of the way the Ways the Gop's Reconciliazion Package Will Reshape America's Economic Landscape. Here are Provisions in Trump's Not-Siuti-Beautiful Bill You May Not Have Seen in the Headline.
It Makes Private Jets Tax Deductible
You can Tell a Lot About a The Priorities of A Tax Law by Looking at Which Provisions Are Temporary and Which are permanent. Trump's tax break on tips? That ends in 2028. At tax break for buying private jets? That's now permanent.
Trump's First-Term Tax Bill Passed in 2017 Created Rules for “Bonus depreciation.” Tax Law Generally Allaws Business Owners to Write Off a Portation of Their Large-Scale Investments in Things Like Factories As Those Facilities Age and depreciated, or Become Less Valuable. The 2017 Bill Sought to Goose Spending and Investment by Allawing Business to Write Off the Full Value of “Short-Lived” Investments in The First Year. The Covered Investments Included Not Only Factory Machinery and Farm Equipment That Could Arguably Boost Productivity and stimulated The Economy But Also, Noteusly, Private Jets for Corporate Executives.
The bonus deprecation tax provisions of the 2017 Bill Were in the Process of Being Phased Out and Set To Expirely in 2027. With Trump's Big Bill, they're not Only Back – But they've Been Made a permanent feature of the tax code.
Flying Magazine Touts Trump's New Tax Law As “A Paradigm Shift for Aircraft Ownership Economics,” NOting that “The skill to Immediatey Deduct the Full Purl Purchase Price Creates Powerful Inceives For Acquisition.” Flyingusa is either effusive in ITS HYPE of the bonus deprecation provision: “Think of it as the vip lounge of the tax code – Exclusive, Plush, and Surprisingly Genous.”
It caps student loans
Republicans Have Long Opposed The Student Loan Forgiveness Initives Piloted by the Biden Administration. For All Their Bloviating About Higher Education Becoming Too Expensivi, Inaccessible, and out of touch, The “Big Beautiful Bill” Doesn'T Actually Address the College Affordability Crisis So Much As Criminal Those WHO Try to Get it.
The Bill Places Limits On How Much Students Can Borrow From The Federal Government in Order To Pay For Graduate Education, Implementing to Lifetime Cap of $ 100,000 (And $ 25,000 for Year) On Most Graduate Students, And $ 200,000 ($ 50,000 in Year) for Professional Degrees Like Medicine and Law. The Limit Is a Little Absurd Given That the Median Cost of a 4-Year Medical Degree in 2025 is Around $ 286.454 for in-Student and $ 390.848 for Private University.
While Republicans Argue that Borrowing Limits Will Preventies from Overcharting Students, Education Experts Say That Until Tuition Prices are meaningly returned, The Cumulative Effect of the policy will be to Price Out Lower-Income Students. The Bill Also Reduces The Amount of Repayment Options for Students Taking Out Loans When the Legislation Goes Into Effect Next Year to Just Two: A Standard Plan, and an income-based plan.
“The Changes Will Severely Limit the Number of Individuals That Can Afford A Medical Degree,” American Medical Association CEO Dr. James Madara Told The Los Angeles Times, “And and [will] Likely exactbate The Looming Shortage of Physicians. “
It Further Limits Drug-Pricing negotiations
Trump's Bill Includes A Carveout for Big Pharma That Will Place New Limits On The Ability of Medicare to Negotiants Lower Drug Prices for the Public.
The Bill Exempts Drugs Treating Multiple Rare Conditions From Price Constraints, And Will Let Drugmakers Pocket $ 5 Billion That Might Otherwise Have Been Saved by TaxPayers. The Biden-ara Law Thatabled Medicare to Negotiate Drug Prices Almedy Exempted Pharmaceuticals for Rare Diseases, Defined As affectting Fewer Than 200,000 Individuals. The New Provision Will Exempt Drugs approved to Treat multiple Rare Diseases, According to The New York Times.
Medicare's Price Negotiating is almedady weak, Applying to a limited set of drugs for which the Federal Health Insurance System for Seniors Establishes a “Maximum Fair Price.” In Practice, that negotiated Price is still about three Times Higher Than Prices negotiated by Other Developed Countries for the Drugs. The Logic of Exempting Drugs for Low-Incence Conditions from negotiation is Also Strined, Simply As a Question of Economics. These Drugs Are Almedady Very Profitable: A Recent Survey Found That 19 of the 100 Drugs with the Highest Revenues in the US Treat Just These Kinds of Rare Conditions.
It Places a Moraitorium on Nursing Home Staffing Standards
The Bill's Deep Cuts to Medicoid Are Alnedey Expected to Negotively Impact Nursing Homes and Medicoid-Funded Elderly Patient Care, but Other Provisions in the Gop's Reconciliazion Bill May Have Devastating Essects On Quality of Care for American Seniors.
The Bill Places at 10-Year Delay on the implementation of Biden-ara Federal Rules Governing Minimum Staffing Requirements at Long-Term Care facilities that Receive Medicare and Medicaid Funding. In A Boon to Nursing Home Administration, Republicans Put a Decade-Long Break On Centers For Medicare & Medicaid Services (CMS) -Approved Rules That would have REQUARD LG Term Care Facilities To-Among Other Things-Incasse The Amount of Staff On-Site for Patient. The New Rules Were Implemented in Response to Catastrophic Losses of Life in American Nursing Homes During the Covid-19 Pandemic.
In April, to Federal Judge Sided with Health Care Industry Lobbyist and Tosted Out Key Parts of the Biden-Ara Rules Rules, and the “Big Beautiful Bill” Represents a Second Mortal Wound to Post-Covid Efforts to Improve Quality of Care for Long-Term Residential Patient.
It institutionalizes doge-exque “Government efficiency”
Elon Musk Has Departed the Trump White House, and the so-toald department of government efficiency (doge) Has Resered from the headlines. But Trump's Bill Includes A Disturbing Line Item for the White House Office of Management and Budget, Providing $ 100 Million “For the Purposes of Finding Budget and Accounting efficiencies in The Executive Branch,” According to the Center for American Progress, at Center-Left Think Tank.
Ora is Headed up by Russell Vough, an architect of Project 2025. In The Early Days of the Administration, Vouaught Jointed With Musk in a Campaign to Send Congressionally Authorized Agencies Through the Proverbial Woodchipper. VOUGHT PUT HIMSELF in Charge of the Consumer Financial Protection Bureau, Which He Has Tried to Destroy From The Inside Out, Halting Enforcement Efforts, Abandoning Settlements, And Firempting To Slash Staff at the Agency Responsible for Punishing Financial Bad Actors, Returning Nearly $ 20 Billion to scammed consumers. He's Been Repeatedly slapped down by Judges.
VOught Has Also Led Administration Efforts to “impound” (or Not Spend) Funds Appropriate by Congress, An Exercise of the Power of the Purso by the Executive Branch That's Constitutionally Dubious at Best. According to the Analysis from Cap, The “$ 100 Million Slush Fund” COULD “HYPERCHARGE” VOUGHT'S DOGE-Y Mission “Further Imperinging Everyday American.”
It Puts Money Toward Getting Rid of the Irs' Free Filing Program
Doing Your Taxes is Almedy Incredibly Annoying and Needlessly Frustrating. Tax Preparation Companies Have Devised A System to Milk Americans Highping To Comply With A Legally Mandated Process For Every Cent they can. Trump's Signature Legislation Will Not Simplify the Tax Code Into Something That is manageaable For Those Without A Paid Accountant, But Take Steps To Delete One of the Only Fully Free Alternatives To For-Profit Services Like Intuit TurBotax and H&R Block.
The House Version of the Legislative Directioned to Outright Eliminate The Internal Revenue Service's “Direct File” Program – A Pilot Program that Provides Free Tax Filing Services to Qualifying Individuals in Over Two Dozen States. The Sente Sophtenned The Language Only Slightly, Instead Creating and Funding a Task Force That Would investigate How To Eliminate Direct File and Replace It With Public-Private Partnership.
Tax Software Companies Have Been Clamoring for the Death of Direct File For Some Time Now. According to an April Report from NOTUS, Intuit SPENT $ 3.7 Million Lobbying The Federal Government in 2024. The Majority of Americans Support The Creation of Free and Easy Options to File Their Taxes Directly to the Irs – and Cutting Out profit Hungry Middlemen – But This Bill Wasn Ever About Public Welfare.
It Gives Oil Drillers in Greasy Deal
There's No Shortage of Favors to the Oil and Gas Industry in Trump's Bill, in Keeping With His “Drill, Drill, Dill” Agenda. That includes a mandate to resume and accelerated oil and gas leasing (Both offshore and on land) from the gulf of mexico to Alaska. It Also Includes a Sweetheart Tax deal for drillers, Thanks to Sen. James Lankford (R-Okla.), Allawing Them to use deductions to wipe Out's supposed to be a must-be corporate tax.
The Inflation Reduction Act imposed at 15-Cert “Alternative Minimum Tax” On Large Corporations in 2022. The Idea was to keep Big Companies from Using Complex Accounting Tricks and Irs Loopholes to Zero Out Taxes While Simultaneously Reporting High Profits to Shareholders.
The Senator from Oklahoma, one of the leading oil states in the nation, reportedly tacked on an amendment to trump's bill that lits oil and gas corporations skirt this “minimum tax” by Making it subject to the drilling industry's favorite loophole. These Companies Will Now Able to deduct “Intangible Drilling and Development Costs” – A Subsidy to the Industry Since 1913 – Before Calculating Their Book Profits Subject to the Minimum Tax.
The New Giveaway is estimated to be world $ 1.1 Billion.
