Trump tax bill effects ahead of election
The gist
Republicans are touting Trump's 2025 tax law before the 2026 midterms.
The law's benefits vary by household, and polls show most voters say Trump's policies hurt the economy.
How it unfolded
- Jul 4, 2025Trump signs the 'One Big Beautiful Bill Act' into law, making permanent most 2017 tax cuts, cutting the top corporate rate to 21%, doubling the standard deduction, and creating deductions for tips, overtime and seniors through 2028.
- Sep 17, 2026CNBC reports Republicans are touting the law to voters; Treasury Secretary Scott Bessent says more than 64 million tax returns claimed at least one of Trump's 'signature new tax cuts.'
- Sep 20, 2026An NBC News post notes some Republicans say relying too heavily on the tax law is a risk.