Connect with us

Politics

Trump’s New Bill Includes Controversial Provisions

Published

on

Trump Signing Bill Provisions

WASHINGTON, D.C. — President Donald Trump will sign a significant bill into law on Friday, drawing major attention for its tax cuts, reduced Medicaid and food stamp spending, and increased border security funding. However, several less-publicized measures tucked within the bill could have lasting implications.

Among the notable changes, the space shuttle Discovery will be relocated from the Smithsonian National Air and Space Museum in Virginia to Houston, thanks to $85 million allocated in the bill. Texas Senators John Cornyn and Ted Cruz advocated for this move, aiming to honor Houston’s role in the space program.

Additionally, commercial space flight companies such as SpaceX will face launch and reentry fees that will increase over eight years. Starting at 25 cents per pound, these fees will rise to $1.50 per pound by 2033, with caps set at $30,000 per launch initially and $200,000 thereafter, adjusted for inflation.

Meanwhile, a troubling provision for the poker industry could negatively affect professional and casual gamblers alike. Under the new law, gamblers can only deduct 90% of their losses before tax, meaning someone who wins $100,000 but loses $80,000 would be taxed on a perceived income of $28,000. Professional poker player Phil Galfond criticized this change, stating, “You could pay more in tax than you won.”

The bill also includes $257 million for renovating the Kennedy Center for Performing Arts, despite cuts to arts funding elsewhere. This funding follows Trump’s recent overhaul of the center’s board to include political allies.

Another controversial change is the elimination of a $200 fee on silencers and short-barrel rifles, removing them from the National Firearms Act of 1934. While the law will still govern machine guns and explosives, this adjustment raises concerns among gun control advocates.

Senator Lisa Murkowski of Alaska secured concessions for her state, including an increased tax deduction for whaling-related expenses from $10,000 to $50,000.

Moreover, there are provisions for consumers buying American-made cars, allowing them to write off up to $10,000 in interest on auto loans from 2025 to 2028. However, a previously available tax credit for electric vehicles worth up to $7,500 will be eliminated by the end of September.

The complex legislation combines broad populist measures with specific interests, reflecting the intertwining of political priorities with economic strategies.