CNN
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When President Donald Trump indicators his so-called big, beautiful bill into legislation Friday, a lot of the main focus can be on its big-ticket objects — tax cuts, slashes to Medicaid and meals stamp spending and boosted border safety funding.
However lawmakers tucked a protracted record of measures that gained’t seize headlines into the large tax and spending package. Right here’s a take a look at seven of the lesser-known provisions of the measure:
The area shuttle Discovery, parked on the Smithsonian Nationwide Air and House Museum annex in Northern Virginia because it was decommissioned in 2011, can be relocated. Its new house: Houston.
The invoice contains $85 million to pay for its relocation and housing on the Johnson House Heart. The transfer comes after a push by two Texas Republican senators, John Cornyn and Ted Cruz, who argued Houston’s function within the area shuttle program ought to be acknowledged.
Industrial area flight corporations like Elon Musk’s SpaceX should pay charges for his or her launches and reentries – phased in over eight years, and meant to assist the Federal Aviation Administration’s Workplace of Industrial House Transportation sustain with the business’s fast development.
The charges will begin at 25 cents per pound, capped at $30,000 per launch and attain $1.50 per pound, capped at $200,000 per launch, in 2033, with will increase tied to the patron value index after that.
The poker business — together with those that play for a dwelling, on-line and in casinos — could possibly be in deep trouble as a consequence of a provision that may eat into the income of those that become profitable playing.
Presently, gamblers can deduct their losses earlier than paying taxes on their winnings. Underneath Trump’s invoice, although, they’ll be capable of deduct simply 90% of their losses. For instance: Win $100,000, however lose $80,000? You’ll have made $20,000 however owe taxes on $28,000.
“This new modification to the One Massive Lovely Invoice Act would finish skilled playing within the US and damage informal gamblers, too,” skilled poker participant Phil Galfond said on X. “You would pay extra in tax than you gained.”
The invoice contains $257 million to hold out Trump’s often-mentioned plans for a makeover of the Kennedy Heart for Performing Arts — funding that comes regardless of the Trump administration’s cancellation of grant provides to arts and humanities applications nationwide.
Trump took over one in every of Washington’s premiere cultural spots, remaking the Kennedy Heart’s board with political allies. He additionally final month attended the middle’s opening night time of “Les Misérables,” the place he was met with a mixture of cheers and boos.
The invoice eliminates a $200 payment that gun homeowners are charged when buying silencers and short-barrel rifles, in addition to registration and possession necessities.
It removes these from the scope of the 1934 Nationwide Firearms Act, a Prohibition-era legislation meant to crack down on gangland crime. That legislation stays in impact for machine weapons and explosive gadgets.
Alaska Sen. Lisa Murkowski used her leverage because the Senate’s deciding vote to extract a sequence of concessions within the closing invoice for her house state. Amongst them: A rise, from $10,000 to $50,000, of a tax deduction for whaling-related bills.
Shopping for an American-made automobile between 2025 and 2028? You’ll be capable of write off as much as $10,000 of curiosity paid in your auto mortgage. Reaching the total deduction would require a six-figure car buy, however these shopping for common automobiles, vans and SUVs that qualify for the deduction may save a number of hundred {dollars} per 12 months.
However, these available in the market for electrical automobiles will see a tax credit score created underneath former President Joe Biden and value as much as $7,500 eradicated on the finish of September. It had initially been scheduled to final by way of 2032.
