President Donald Trump ’s ‘big beautiful bill’ delivers a temporary higher limit on the federal deduction for state and local taxes, known as SALT. But the phaseout, or income-based benefit reduction, could trigger a tax surprise for some higher earners, experts say.

President Donald Trump's tax bill, signed into law July 4, reduces how much in losses a gambler can deduct. Here's how the changes will work.

New law reduces the number of federal student loan repayment options and caps how much individuals can borrow for higher education.

The One Big Beautiful Bill Act is temporarily quadrupling the state and local tax deduction to at least $40,000, up from $10,000, for the next five years. Now it’s up to taxpayers to see if they can take advantage of this extra write-off, which is popularly referred to as the SALT deduction.

The Republicans' tax cut and spending package, dubbed the "big, beautiful bill," includes a tax deduction for car loan interest of up to $10,000 annually for qualified vehicles.