President Trump’s “One Big Beautiful Bill” Sweeping Tax Cut for All 50 States
Impact Score: 2.4
Timeline: Effective beginning in 2026
Summary: The legislation delivers an average tax cut of $3,752 per individual taxpayer in 2026 with key provisions like no tax on tips, overtime, or Social Security benefits, expanded Child Tax Credit, and incentives for Made in America initiatives and small businesses. It aims to reduce inflation, spur historic investments, and create nearly one million jobs nationwide. Vanderbilt University faces potential impacts on its financial aid strategies, funding opportunities, student demographics, and career services due to economic shifts driven by the bill.
Key Actions: Vanderbilt should adapt financial aid planning, explore economic development partnerships, expand research on economic effects, study socio-political impacts, and align career services with emerging job market opportunities.
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