By Steve Moore
WASHINGTON, D.C. (Texas Insider Report) — We rate the House-passed tax legislation as a good bill, not a great bill. We grade it a B and Steve Forbes rates it as: "needs improvement."
That said, we cherry-picked some of our favorite, unheralded items from a White House document 50 Wins in the One Big Beautiful Bill that we suspect you aren’t aware of.
- Implements work requirements for able-bodied Americans receiving taxpayer-funded benefits.
- Reverses electric vehicle mandates set by radical climate activists.
- Opens federal lands and waters to oil, gas, coal, geothermal, and mineral leasing.
- Expands tax relief for small businesses by increasing the profits tax deduction to 23%.
- Renews and expands 100% immediate expensing for equipment and machinery.
- Increases the endowment tax on large universities.
- Cancels Biden's illegal, unfair student loan bailouts.
- Requires states to pay a higher match for food stamps and strengthens work requirements.
- Expands Health Savings Accounts to give Americans greater choice and flexibility in how they spend their money.
- Incentivizes school choice scholarships that empowers American families and students to choose the education that best fits their needs.
- Ends requirement that Venmo, PayPal, and others report transactions over $600 be reported to the IRS.
- Holds universities financially accountable to the government on defaulted federal student loans.
- Increases timber sales on federal lands.
- Authorizes the sale of expanded spectrum to strengthen rural broadband and secure America's technological dominance.
That's pretty big and beautiful.
We'll highlight what we like least in this 1,000-page bill at a later date.
- READ MORE: So Much for a Trump 'Recession' – U.S. Consumers are Confident & Spending Again
- After a brutal couple of months due to the Trump tariff turmoil, the American Economy is humming. In fact, the Atlanta Fed's latest estimate reflects a more-than-healthy 4.6% Growth Rate, the president's policies have flipped U.S. Investment from negative to positive, Consumer Confidence is up to a 4-Year High – and consumers are spending again!
Stephen Moore – a former Wall Street Journal Editorial Page writer and Chief Economist for The Texas Insider – is a Senior Fellow at both FreedomWorks and the Heritage Foundation, who along with Steve Forbes & Art Laffer is Co-Founder of the Committee to Unleash Prosperity. Using compelling charts, videos, and maybe even a little humor, Moore and the Committee's free Daily Newsletter provides you with information not readily available anywhere else – short and timely insider updates on the economy, the D.C. political landscape, and numerous other issues that help you stay informed and allow you to be the smartest person in the room.
