The changes won’t happen all at once. Here’s when Americans can expect key provisions of the GOP tax and spending bill to go into effect.

Californians will be able to deduct more of their state and local taxes on their federal income tax returns thanks to the Big Beautiful Bill President Donald Trump has signed into law. The measure will allow taxpayers with incomes of less than $500,

US President Donald Trump’s “Big Beautiful Bill” was signed into law on July 4. While it didn’t impose a moratorium on state-level artificial intelligence laws as anticipated, it did include a substantial 35% tax credit for semiconductor manufacturers.