House Republicans are rejoicing after President Trump’s “Big, Beautiful Bill” passed, leading to major tax relief for senior citizens, along with a host of additional benefits for Americans of all ages and income levels, including no tax on tips, car loan interest deductions, and more.
For context, on May 21, 2025, the House Ways & Means Committee, chaired by Rep. Jason Smith (R-MO), issued a statement celebrating the recent passing of the “One, Big, Beautiful Bill,” which was narrowly approved with a 215-214 vote, with only two Republicans opposing and one voting “present.” As a result, senior Americans stand to reap major benefits, including increased tax breaks, while working taxpayers will also see reduced taxes on tips. According to the House Ways & Means Committee, the bill will also create “more than 7 million jobs.”
In response to the passing of the bill, Rep. Smith issued a celebratory statement, saying, “President Trump promised the American people he would deliver relief after four years of skyrocketing prices under President Biden.” Rep. Smith continued, “The One, Big, Beautiful Bill fulfills the promises President Trump made to working Americans hit hardest by inflation: service employees, blue-collar workers, and seniors.”
Furthermore, Rep. Smith clarified that the bill will “will fuel an American manufacturing boom to create good-paying jobs here at home,” adding, “These pro-growth, pro-worker tax policies, coupled with permanence of the 2017 Trump tax cuts, will raise wages, boost small business and manufacturing growth, and increase investment in America’s economy.”
In addition, a statement published by the White House on May 16, 2025, the new bill’s benefits will be especially helpful for seniors, with the White House describing the tax on Social Security benefits as being “slashed.” In addition, the statement confirmed that Americans who earn between $30,000 and $80,000 will pay “around 15% less in taxes.”
Moreover, the White House confirmed that thanks to the new bill, President Trump’s proposed border wall will finally be funded, with the statement clarifying that “701 miles of primary wall, 900 miles of river barriers, 629 miles of secondary barriers, and 141 miles of vehicle and pedestrian barriers will be constructed.”
Along with the benefits for seniors and increases to border security funding, the bill also reportedly changes the standards for “woke, elite universities that operate more like major corporations and other tax-exempt entities,” with the House Ways & Means Committee clarifying that the new legislation will ensure that these institutions “can no longer abuse generous benefits provided through the tax code.”
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Furthermore, the House Ways & Means Committee explained that the bill will also make university endowments subject to higher taxes, adding that the largest endowments will be subject “to the corporate tax rate.” Moreover, the bill also targets “massive non-profits that resemble hedge funds,” which the committee described as paying “their employees huge salaries.”
Featured image credit: Rep. Jason Smith via X