President Donald Trump signed the Big Beautiful Bill on the Fourth of July. So when will people start seeing effects? Senator Bill Cassidy says that for some Louisiana taxpayers, will feel it right away.
“This tax season, no tax on tips, no tax on overtime begin.”
Cassidy says if you’re a business owner those there will be retro active to the beginning of this year.
“And so if you’re deciding to make an investment or have already made an investment in your business to create more jobs, better-paying jobs, you’re gonna see some benefits on your taxes right now to create those jobs.”
Cassidy says the bill will have cuts to make the government leaner as will go into effect quickly.
“For some of these provisions, you want to give businesses an offramp, and so if a business has made 30 or 50 million dollars investment in projects you give them an offramp to whined it down. But the EV tax credit, though, I think those go away immediately.”
