President Trump’s “One Big Beautiful Bill” Permanently Cuts Taxes and Boosts Economic Growth
Impact Score: 2.6
Timeline: Effective for the 2026 tax season (approximately 150 days from August 21, 2025)
Summary: The “One Big Beautiful Bill” Act permanently extends the 2017 Tax Cuts and Jobs Act provisions and adds new deductions and credits, such as for tipped/overtime income and child-care, aimed at reducing taxes nationwide. Significant savings are projected across many states, with new job creation and economic boosts targeted especially for middle-class and blue-collar workers. However, risks include potential reductions in federal revenue impacting funding for educational institutions like Vanderbilt University, which may need to adapt financial strategies and explore private partnerships.
Key Actions: Vanderbilt should analyze financial aid impacts, monitor federal funding changes, engage in economic and political tax policy research, and develop community outreach and educational programs to maximize benefits and mitigate risks.
View Full Report
