US Edition
Adam Zyglis: Trump Budget Bill Passes
UNITED STATES, JUL 4 – The new law provides tax relief by allowing tipped workers to deduct up to $25,000 of tip income annually starting 2025, with benefits also extended to employers.
- On July 4, 2025, during a White House event held alongside Independence Day festivities, President Donald Trump enacted the comprehensive legislation known as the One Big, Beautiful Bill.
- The legislation introduces significant tax changes, notably the "No Tax on Tips" provision, which permits workers to reduce their taxable income by as much as $25,000 from declared tip earnings annually, beginning in 2025 and ending after the 2028 tax year.
- The bill also includes provisions for infrastructure investments such as modernizing air traffic control, funding the Coast Guard, and expanding air traffic controller hiring, while benefiting software companies through upfront R&D expensing.
- Morgan Stanley projects that Big Tech firms like Microsoft, Oracle, and Salesforce could see cash flow boosts up to 6%, with Okta possibly realizing a near 12% margin increase under new expensing rules.
- The bill received praise from freight and trucking groups emphasizing job security and growth, while some service workers expressed concerns about the tip deduction's limitations and its practical impact.
12 Articles
12 Articles
Service industry workers in the Coastal Bend react to Trump's 'No Tax on Tips' law
Some service industry workers in Rockport are expressing concerns that President Trump's "No Tax on Tips" act may not be as beneficial for them as it initially appears. The "No Tax on Tips" act, part of President Trump's "One Big Beautiful Bill" signed on July 4, 2025, introduces a federal income tax deduction for reported cash tips up to $25,000 per year. However, local service industry workers in the Coastal Bend point out several limitations …
The Big Beautiful Bill may have just quietly boosted Big Tech earnings
The Microsoft logo is shown on the Microsoft Theatre at the E3 2017 Electronic Entertainment Expo in Los AngelesReutersPart of Trump's tax bill could give Big Tech a boost to earnings.The bill allows upfront expensing of R&D costs, enhancing cash flow for software firms.Microsoft, Oracle, and Salesforce are some of the biggest beneficiaries, Morgan Stanley said.President Donald Trump's new tax bill hands businesses major tax perks, but it's espe…
WHITE HOUSE: No Tax on Tips to Deliver Massive Pay Increase for Uber Drivers - The Iowa Standard
From The White House: With the One Big Beautiful Bill signed into law, President Trump has delivered the LARGEST TAX CUT IN HISTORY for middle- and working-class Americans, but that’s not all. This historic legislation also fulfills his No Tax on Tips campaign promise, which allows hardworking Americans to keep more of their earnings on tipped income. Watch as a CNBC analyst predicts Uber driver earnings could increase by a billion dollars thank…
Coverage Details
Bias Distribution
- 80% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
