Federal Managers Association

In the News

• What’s in the tax and spending bill that Trump has signed into law - July 4, 2025

• Kevin Freking and Lisa Mascaro, Associated Press

  President Donald Trump on Friday signed the tax and spending cut bill Republicans muscled through Congress this week, turning it into law by his own self-imposed Fourth of July deadline.
  
  At nearly 900 pages, the legislation is a sprawling collection of tax breaks, spending cuts and other Republican priorities, including new money for national defense and deportations.

  Democrats united against the legislation, but were powerless to stop it as long as Republicans stayed united. The Senate passed the bill Tuesday, with Vice President JD Vance casting the tiebreaking vote. The House passed an earlier iteration of the bill in May with just one vote to spare. It passed the final version Thursday 218-214.

  Here’s the latest on what’s in the bill and when some of its provisions go into effect.
  
  GOP bill includes reductions for businesses and new tax breaks
  Republicans say the bill is crucial because there would be a massive tax increase after December when tax breaks from Trump’s first term expire. The legislation contains about $4.5 trillion in tax cuts.

  To read the full article, click here.

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