With the GOP’s “big, beautiful bill” headed to President Trump’s desk for signature Friday, wealthy Americans are poised to receive significant tax breaks partly offset by steep cuts to social welfare programs.

The bill makes 2017 tax breaks from Trump’s first term permanent, while adding some new tax breaks, like no taxes on tips up to $25,000 and a “senior deduction” that will allow more people over 65 to avoid Social Security taxes.

Some policy analyses show that the tax cuts for lower earners may be offset by the new costs they incur from lost

© The Hill