Now that President Donald Trump signed the bill, workers will be able to deduct up to $25,000 in reported tips and $12,500 in overtime pay from their taxable income on their federal tax returns.

Bettors can still deduct losses from wins within a single session of play. But the Internal Revenue Service ( irs) is unlikely to let punters treat a full year, or arguably even a week, as one session. In the meantime, some sports bettors are placing their hopes on a potential loophole presented by a disruptive new entrant to the industry.

Tax incentives contained in the sweeping tax and budget bill Trump signed on July 4 could provide a fresh boost to AI chipmakers.

The Congressional Budget Office estimated that it will add $3.3 trillion to the deficit over the next ten years. Elon Musk, once Trump’s highest profile ally, has warned again in recent days that the legislation would send the country into “debt slavery.” He also threatened to fund primary challengers to Republicans who voted for the legislation.

One Big Beautiful Bill' makes 529 plans more flexible, some skeptics say the education savings plans still may not be worthwhile for some. Here's why

Trump's exclusion of an oft-touted Social Security proposal will be highly unpopular but is absolutely necessary.

One health policy professor said cutting Medicaid and similar programs "will be devastating" to millions of Americans.

This is Washington’s MO: short-term politicking over long-term sustainability.’ Musk reposted this comment, expressing agreement with a ‘100’ emoji, his first public statement on the bill since its official passage.