No tax on tips or overtime, with a catch: What to know as Trump’s Big Beautiful Bill passes the Senate

Jul 1 2025 by Fast Company

On Tuesday, the Senate narrowly passed President Donald Trump’s “Big, Beautiful Bill” with a 50-50 vote, with Vice President JD Vance breaking the tie, to get the legislation across the finish line after an all-night session. The bill now goes back to the House of Representatives for a final vote, as the GOP races to finish passage of the bill before the upcoming July 4 holiday weekend.

Tucked away among the 940 pages of the massive bill are an array of new tax write-offs. Many of...

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