When does the Big Beautiful Bill go into effect?
|
|
The One Big Beautiful Bill, signed into law on July 4, included policy shifts on taxation, government assistance, student loans, and immigration. Some of these shifts will take effect immediately. Others will roll out over the next several years. USAFacts created this timeline to help you understand all the changes.
- Service workers will receive tax deductions on tips up to $10,000. The provision is set to halt at the end of 2028.
|
|
- The SALT deduction, which allows people to reduce their federally taxable income by the amount they pay in state and local taxes, will rise from $10,000 to $40,000 this year. The deduction will increase annually before returning to $10,000 in 2030.
- The Supplemental Nutrition Assistance Program (SNAP, sometimes called “food stamps”) will have tighter work and nationality requirements. These have no set start date but could begin this year. Starting in 2028, states will be required to cover up to 15% of SNAP costs. (The program had previously been fully funded by the federal government.)
- Beginning in fiscal year 2026 (which begins this coming October 1), federal matching funds for states that expanded Medicaid under the Affordable Care Act will gradually decrease. By the end of 2026, states must also require beneficiaries to work or engage in community service for a total of 80 hours a month.
- The OBBB increases Immigration and Customs Enforcement (ICE) funding immediately, providing an additional $45 billion through 2029. The same is true for Customs and Border Protection, which will receive an additional $64 billion through 2029. New fees for asylum seekers and work permits began July 4.
Hover over each of 30 different provisions for more detail on the timeline. |
|
What’s the current inflation rate?
|
|
Feeling like your grocery bill is climbing faster than the inflation rate? You might be on to something. Prices are rising on some commodities across the US, but they’re falling for others. What does inflation really mean, and how do rates differ depending on where you live? |
|
- As of June, the headline inflation rate was 2.7%. Headline inflation is tracks prices on all consumer items — such as food, housing, and transportation — to reflect the cost of living. Core inflation (which is headline inflation minus volatile food and energy prices) was 2.9%.
- When inflation rates are positive, the price of goods is increasing. Prices only fall during deflation. The highest inflation rate was in June 1920, reaching 23.7%. Most recently, prices deflated in April 2015, down 0.2%.
- Inflation rates can differ by location because every area has its own mix of supply and demand. The highest inflation rate among tracked urban areas in June was 3.5% in Chicago and New York, followed by Philadelphia (3.3%) and Los Angeles (3.2%). Visit USAFacts for the current inflation rate in your part of the US.
|
|
The Senate recently passed a rescission package to cancel nearly $9 billion in already-approved funding. What’s in the Rescissions Act of 2025? We have the numbers.
The pilot of a regional airliner recently made an unexpected sharp turn to avoid a possible midair collision with a military B-52 bomber in North Dakota. No one was injured. However, there have been deadly crashes involving military vehicles this year. So is flying safer than driving?
Did you read last week’s newsletter? It’ll come in handy for the weekly fact quiz. |
|
In 2021, Hawaii residents had the longest life expectancy in the nation: 79.9 years. Massachusetts residents followed closely at 79.6 years.
Mississippi had the shortest life expectancy, 70.9 years, one year less than in 2020. West Virginia and Alabama followed with life expectancies of 71 and 72 years, respectively.
|
|
|
|
|
