Americans could see the largest
Overview of the Law
The Working Families Tax Cuts Act, signed July 4, 2025, is promoted as a major win,
promising permanent relief for workers and families. The administration says
it aims to “put America first” by easing everyday tax burdens.
Key Provisions
The law eliminates federal income tax on “tips and overtime earnings” and
removes taxes on Social Security benefits. Officials project average savings of
“$3,750 per filer in 2026,” with total refunds estimated at $100 billion.
Economic Claims
Supporters point to forecasts of protected jobs, higher wages, and incentives for
small businesses, farmers, and manufacturers. The plan is branded the
“One Big Beautiful Bill,” alongside pledges to cut fraud and waste.
Debate and Impact
Backers call it vital relief for families living paycheck to paycheck. Critics warn of
ballooning deficits and uneven benefits. Ultimately, families will judge it by
whether their refund feels like “a kept promise.”
