What tax changes are included in the "big, beautiful bill"?
Asked 8 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
9 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%.