Here's a look at whether you should be delighted or worried about the bill. (Spoiler: You may want to put away the confetti and noisemakers.)

President Donald Trump has promised that the “big, beautiful bill” passed by the Senate and being considered by the House of Representatives will be one of the most successful pieces of legislation in American history.

Medicaid is the state's largest health insurer, covering a quarter of Michigan residents. Reform supporters say the changes will eliminate loopholes.

A provision in the One Big Beautiful Bill Act, recently signed into law by President Trump, will create the country’s first federal tax credit for donations to private schools. It aims to give families more choice in their child’s education,

Yes, some schools will have to pay more endowment tax. But this isn’t nearly the bloodbath the vice president hoped.

What the bill does do is provide a temporary tax deduction of up to $6,000 for seniors aged 65 and older. The tax break is available to people with an adjusted gross incomes of $75,000 or less and $150,000 or less for couples filing jointly. The deduction is set to expire at the end of 2028.

An analysis of the just-passed Senate version of the One Big Beautiful Bill Act predicts the legislation will increase primary deficits by $3.1 trillion over 10 years. That didn’t worry the Senate—will it bother the House?

The One Big Beautiful Bill Act is temporarily raising the state and local tax deduction to at least $40,000, up from $10,000, for the next five years. Now it’s up to taxpayers to see if they can take advantage of this extra generous write-off, which is often referred to as the SALT deduction.