Newsfront
7 ‘Gems’ in Trump’s ‘Big, Beautiful’ Spending Bill
T
Experts expect economy to be turbocharged, just like in his first term. BY DAVID A. PATTEN
humbs up, america! that was the loud-and-clear mes- sage sent by President Don- ald J. Trump on Indepen-
dence Day, as he joined House Speaker Mike Johnson and his Cabinet at the White House on July 4 to sign the One Big Beautiful Bill (OBBB) into law. Among the bill’s provisions that
have received the most attention: permanent status for Trump’s first- term tax cuts, increased spending for defense, beefed-up border security, and changes to Medicare/Medicaid that the White House insists do not amount to reductions. The bill also calls for a $12.5 billion
1 TAX BREAKS
FOR SMALL BUSINESS
Provision: Keeps the current 20% tax exclusion for small business. Provides immediate tax write-offs for investments in equipment and machinery. Impact: A jump in small- business activity nationwide as owners invest in the equipment they need to support their growth and expansion.
FOR SENIORS Provision: A tax
2 6 NEWSMAX | AUGUST 2025
BONUS TAX DEDUCTION
investment in modernizing the antedi- luvian U.S. air traffic control system, exposed in a series of articles in News- max magazine. Trump hailed the bill as “a tri-
umph of democracy on the birthday of democracy.” Inside the Beltway, however, the
bill’s significance is viewed rather differently: It means the clear battle lines for the 2026 midterms have now been drawn. Why? Because not a single Dem-
ocrat politician in either the Senate or House voted in favor of it. That could trigger a serious bout of insom- nia among Democrat political strate- gists, if the bill’s impact is anything like Trump’s Tax Cuts and Jobs Act (TCJA) in 2017. The TCJA was instrumental in
driving U.S. unemployment down to 3.7% during Trump’s first term, a level
deduction of up to $12,000 for married couples if both spouses qualify, available at least through 2028, or those age 65 or older with a modified adjusted gross income of less than $250,000. Impact: Seniors on fixed incomes who have been whacked hard by inflation will finally get a break, with millions with additional disposable income to help bolster the economy.
3
AN END TO JOE
BIDEN’S EV MANDATES
most mainstream economists consid- ered impossible at the time. All that changed drastically, of
course, when the “mysterious” virus from Wuhan, China, reached U.S. shores in January 2020. Trump, never one to underestimate the importance of his own accomplishments, predict- ed his One Big Beautiful Bill Act will put the U.S. economy on course for “enormous prosperity in the new and wonderful Golden Age of America.” The critical question: Can Trump
pull off yet another U.S. economic surge? The bill is jammed with what economist Stephen Moore, cofounder of Unleash Prosperity, calls “hidden gems.” Because of those provisions, pro-Trump economic gurus say its impact could indeed be massive. Among its seven below-the-radar
measures that could turbocharge the nation’s economy:
Provision: The Biden administration pleased the greenhouse gas alarmists by pouring billions of dollars in public subsidies into electric vehicles. Trump was a strident critic of that program during his presidential campaign. The $7,500 tax credit for
EV purchases will end next month. The bill also provides tax breaks for auto loans.
Impact: Market pressures are expected to force the global automobile industry to more closely conform to consumers’ wishes, and demand should increase overall.
4
STRONGER HEALTH
SAVINGS ACCOUNTS
Provision: Expands health
The $7,500 tax credit for EV purchases will end next month. The bill also provides tax breaks for auto loans.
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