
House Republicans narrowly passed Trump's 'big, beautiful' bill. Here's what's in it
Republicans are trying to make permanent the individual income and estate tax cuts passed in Trump's first term plus enact promises he made in the 2024 campaign to not tax tips, overtime and interest on some auto loans.

House Republicans early Thursday took a major step forward on President Donald Trump’s agenda, approving a legislative package that combines tax breaks, spending cuts, border security funding and other priorities.
House committees labored for months on the bill, which underwent late changes to win over holdouts in the Republican conference. It exceeds 1,000 pages and is titled the “One Big Beautiful Bill Act,” a nod to Trump himself.
Republicans made one last round of revisions before the bill reached the House floor, boosting the state and local tax deduction to win over centrists and speeding up the work requirements in Medicaid to win over those who didn’t believe the bill did enough to curb spending.
Bill text. https://www.congress.gov/bill/119th-congress/house-bill/1/text
One portion caught my eye. SEC. 112030. REDUCTION OF EXCISE TAX ON FIREARMS SILENCERS.
I will still need to register the silencers I make, but they will be tax free.(a) In General.--Section 5811(a) is amended to read as follows:
``(a) Rate.--There shall be levied, collected, and paid on firearms
transferred a tax at the rate of--
``(1) $5 for each firearm transferred in the case of a
weapon classified as any other weapon under section 5845(e),
``(2) $0 for each firearm transferred in the case of a
silencer (as defined in section 5845(a)(7)), and
``(3) $200 for any other firearm transferred.''.
There is still much to complain about in the bill though. https://thehill.com/business/5311628-rich-gain-poor-loss-tax-cuts-bill/
Median household income in the U.S. is about $80,000 a year. The middle fifth of earners will see $49.6 billion in tax reductions. That’s about 8.8 percent of the total tax cuts in 2027, compared to the 68 percent received by the top fifth.
The bill would be a major boost for people making between $200,000 and $500,000 a year. They will pay $169.5 billion less in taxes in 2027 — a full 30 percent of the total tax reductions for that year.
Broken down another way, people in the 95th to 99th percentile will see a $117.2 billion tax reduction — that’s more than 20 percent of the total cuts in 2027 for just that slice of the population.