Trump's tax and spending law will impact education savings, gambling losses and tips. Here's a breakdown of the highlights.

The One Big Beautiful Bill Act is temporarily quadrupling the state and local tax deduction to at least $40,000, up from $10,000, for the next five years. Now it’s up to taxpayers to see if they can take advantage of this extra write-off, which is popularly referred to as the SALT deduction.

Grinnell College would have been the only Iowa school affected by a tax increase on colleges with large endowments in President Donald Trump's budget.

Many filers won’t be able to take full advantage of expanded deductions in the recently passed tax law.

The legislation creates tax credits for individuals up to $1,700 when they donate money to programs that support school choice. But it includes a provision allowing governors to decide against

Congressional Republicans are looking to take a second bite of the apple with a ‘big, beautiful bill’ 2.0 in the fall, but fiscal hawks are skeptical that a second bill would provide the steep cuts they are looking for.

Experts and advocates warn that it could have dire consequences for Alabama’s tenuous rural healthcare situation.

Some of the bill’s changes go into effect later this year, while others won’t start until after the midterms in 2026.