Summary:The White House compiled reports from news outlets across the country highlighting the tax savings Americans will receive from President Trump's "One Big Beautiful Bill." The article showcases state-by-state and county-by-county analysis of expected tax cuts for 2026, with the average American taxpayer saving $3,752 according to the nonpartisan Tax Foundation.
Key National Statistics:
- Average tax cut nationwide: $3,752 per taxpayer
- Nearly 1 million new jobs projected to be created
- Most significant tax overhaul since the 2017 Tax Cuts and Jobs Act
- Makes 2017 tax cuts permanent and adds new deductions
State-by-State Highlights:
- Alaska: Average savings of $3,485
- Nevada: Average tax cut of $4,220 (Washoe County: $6,313)
- Florida: Average cut around $5,000 (Miami-Dade: $5,872, Broward: $4,441)
- Arizona: Average cut of $3,521 (Maricopa County: $4,049)
- Ohio: Average savings of $3,175
- Virginia: Richmond residents save nearly $3,500
- Iowa: Range from $2,311 (Appanoose County) to $4,330 (Dallas County)
- Georgia: Fulton County residents save $5,666
- North Carolina: Average cut of $3,264
- Michigan: Average cut of $3,151
Key Features of the Bill:
- Deductions for tips and overtime income (up to $12,500/year)
- Expanded child tax credit and standard deduction
- No taxes on Social Security for seniors
- Permanent 20% qualified business income deduction
- Enhanced employer-provided childcare tax credit
- 100% deduction for research and experimental expenses