What the big beautiful tax law means for your wallet

Published July 14, 2025 at 4:00 AM EDT

a person smiling pounds a gavel surrounded by a group of people smiling and clapping — President Donald Trump pounds a gavel presented to him by House Speaker Mike Johnson after he signed his signature bill of tax breaks and spending cuts at the White House, Friday, July 4, 2025, in Washington.

We’ve heard a lot about the cuts to Medicaid in the Trump administration’s sweeping new tax law, but what about the taxes it’s supposed to cut for you?

The law raises the standard deduction for seniors, families, middle- and low-income people as well as the wealthy. So, will this tax cut make a noticeable impact for you?

On Cincinnati Edition, we discuss the tax cuts, how much you’ll save and what it will take to pay for it.

Guests:

Amanda Becker, Washington correspondent, The 19^th

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