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DHUnplugged Podcast - DHUnplugged #753: Big and Beautiful


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The dreaded downgrade.

Biden’s health in the spotlight.

The big and beautiful Tax bill making its way through the sausage factory

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 Warm-Up

- The dreaded downgrade
- Biden's health in the spotlight
- Tax bill making its way through the sausage factory
- China continues to stimulate

Markets

- Yields - moving up after worrying signs for US debt levels
- Stocks posting big gains for May
- Bitcoin surges past $100k
- Our debt load is untenable - great chart to consider

The Big Beautiful Bill

- The bill eliminates taxes on tips and overtime.
- The bill achieves "no tax on social security" by increasing deductions for seniors on the program.
- The bill eliminates several green energy spending programs and ends the EV tax credit early.
- The bill makes auto loan interest tax deductible.
- The bill raises the debt ceiling by $4 trillion.
- The bill raises the State and Local Tax Deduction to $30,000 for people making $400K or less.
- The bill makes changes to the IRS free tax filing program, pending review by a task force.
- The bill includes tax on college endowments and private foundations.
- The bill includes reforms for how pharmacy benefit managers do business with the government.
- The bill creates a new savings account for children, and $1000 of funding will be provided.
- The bill raises the child tax credit to $2500 from $2000.

USD DEBT

Moody's

- U.S. Treasury yields spiked on Monday after M

...more
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NAFamBy Dame Jenn