Nicole Lappin

And that includes no federal tax on tips and overtime pay from 2026 to 2028, no tax on Social Security benefits, a $2,500 child tax credit through 2028 for families with Social Security numbers, interest on U.S.-made car loans become tax deductible, and the standard deduction goes up through 2028. These all sound great, and to be honest, many are.

And that includes no federal tax on tips and overtime pay from 2026 to 2028, no tax on Social Security benefits, a $2,500 child tax credit through 2028 for families with Social Security numbers, interest on U.S.-made car loans become tax deductible, and the standard deduction goes up through 2028. These all sound great, and to be honest, many are.

But together, they massively reduce government revenue. And remember, you can't just cut taxes and also claim to reduce debt unless you've got a replacement income stream. This bill does not. One new addition that's catching a lot of headlines is the Trump account, also known as the baby savings account.

But together, they massively reduce government revenue. And remember, you can't just cut taxes and also claim to reduce debt unless you've got a replacement income stream. This bill does not. One new addition that's catching a lot of headlines is the Trump account, also known as the baby savings account.

But together, they massively reduce government revenue. And remember, you can't just cut taxes and also claim to reduce debt unless you've got a replacement income stream. This bill does not. One new addition that's catching a lot of headlines is the Trump account, also known as the baby savings account.

Every American baby born between January 1st, 2025 and January 1st, 2029 would get a thousand dollar federal deposit into a tax advantaged investment account. My baby missed this by about 10 days. Anyway, families can contribute up to $5,000 a year for this account. The account grows in a government-managed stock index fund.

Every American baby born between January 1st, 2025 and January 1st, 2029 would get a thousand dollar federal deposit into a tax advantaged investment account. My baby missed this by about 10 days. Anyway, families can contribute up to $5,000 a year for this account. The account grows in a government-managed stock index fund.

Every American baby born between January 1st, 2025 and January 1st, 2029 would get a thousand dollar federal deposit into a tax advantaged investment account. My baby missed this by about 10 days. Anyway, families can contribute up to $5,000 a year for this account. The account grows in a government-managed stock index fund.

At 18, the kid can use 50% for qualified expenses like college or starting a business. At 25, they can use the rest for the same purposes. By 30, the money is fully accessible for anything. It's being pitched as a way to build generational wealth and encourage saving early. But critics say it benefits families who already have money to contribute and doesn't go far enough to close wealth gaps.

At 18, the kid can use 50% for qualified expenses like college or starting a business. At 25, they can use the rest for the same purposes. By 30, the money is fully accessible for anything. It's being pitched as a way to build generational wealth and encourage saving early. But critics say it benefits families who already have money to contribute and doesn't go far enough to close wealth gaps.

At 18, the kid can use 50% for qualified expenses like college or starting a business. At 25, they can use the rest for the same purposes. By 30, the money is fully accessible for anything. It's being pitched as a way to build generational wealth and encourage saving early. But critics say it benefits families who already have money to contribute and doesn't go far enough to close wealth gaps.

Also in the bill, $50 billion in new spending for border protection. That's one of the few areas where spending increases, not shrinks. And it's one of the reasons Elon Musk on CBS called the bill a, quote, disgusting abomination. He says it increases the deficit and undermines his broader vision for economic reform. Agree with him or not, he is not alone in his concerns.

Also in the bill, $50 billion in new spending for border protection. That's one of the few areas where spending increases, not shrinks. And it's one of the reasons Elon Musk on CBS called the bill a, quote, disgusting abomination. He says it increases the deficit and undermines his broader vision for economic reform. Agree with him or not, he is not alone in his concerns.

Also in the bill, $50 billion in new spending for border protection. That's one of the few areas where spending increases, not shrinks. And it's one of the reasons Elon Musk on CBS called the bill a, quote, disgusting abomination. He says it increases the deficit and undermines his broader vision for economic reform. Agree with him or not, he is not alone in his concerns.

So where does the bill go from here? Well, the Senate is now reviewing it under budget reconciliation rules. That means it only needs 51 votes, no filibuster. But it also means everything in the bill has to be tied directly to spending, revenue, or the debt ceiling. Anything else, like immigration laws or social policy riders... gets stripped out by the Senate parliamentarian.

So where does the bill go from here? Well, the Senate is now reviewing it under budget reconciliation rules. That means it only needs 51 votes, no filibuster. But it also means everything in the bill has to be tied directly to spending, revenue, or the debt ceiling. Anything else, like immigration laws or social policy riders... gets stripped out by the Senate parliamentarian.

So where does the bill go from here? Well, the Senate is now reviewing it under budget reconciliation rules. That means it only needs 51 votes, no filibuster. But it also means everything in the bill has to be tied directly to spending, revenue, or the debt ceiling. Anything else, like immigration laws or social policy riders... gets stripped out by the Senate parliamentarian.

And here's where the math is not mathing. Republicans can only afford to lose three votes, but already four GOP senators have said they will not support the bill without changes. So either they have to amend it and send it back to the House for another tight vote, or the bill stalls out. Either way, that July 4th deadline is looking like a long shot.

And here's where the math is not mathing. Republicans can only afford to lose three votes, but already four GOP senators have said they will not support the bill without changes. So either they have to amend it and send it back to the House for another tight vote, or the bill stalls out. Either way, that July 4th deadline is looking like a long shot.

And here's where the math is not mathing. Republicans can only afford to lose three votes, but already four GOP senators have said they will not support the bill without changes. So either they have to amend it and send it back to the House for another tight vote, or the bill stalls out. Either way, that July 4th deadline is looking like a long shot.