What tax changes are included in the "big, beautiful bill"?
Asked 10 hours ago
Answer
The 'big, beautiful bill' introduces new charitable deduction rules, increases taxes on large university endowments, reinstates 100% bonus depreciation for capital equipment, and maintains the corporate tax rate at 21%. It also extends existing tax cuts, with limited new stimulus.
References


CNBC
10 hours ago'Big beautiful bill' changes the tax code on charitable giving
The bill allows a new charitable deduction for those taking the standard deduction—up to $1,000 for individuals and $2,000 for married couples. Itemizers must exclude the first 0.5% of gross income from deductions, and the top deduction rate drops from 37% to 35%.