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.

With the One Big Beautiful Bill Act now law, there could be a spike in consumer energy bills in states represented by Republicans.

Tesla's website currently displays a banner warning customers that the EV tax credit will come to an end in September.

The tax and spending package includes $66.4 billion in new money for programs assisting farmers, strengthening the safety net if there is significant volatility in crop prices and revenues.

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.

Lawmakers approved language that would implement a 90% cap on how much gamblers can deduct from their losses against winnings, down from current law that allows them to earn 100% back.

Democratic House members took turns blasting the tax and spending cut bill passed by President Trump and Republicans last week.