President Trump's 'One Big Beautiful Bill,' enacted on July 4th, introduces a $6,000 tax deduction for seniors aged 65 and ...

The exact wording of the law actually stipulates a $6,000 tax deduction for individuals aged 65 and older, likely raising the ...

Libertarians who say that certain tax deductions and credits are loopholes that need to be closed argue that these loopholes distort the tax code, are inefficient, subsidize high-income taxpayers, ...

Until enactment of the One Big Beautiful Bill Act, officially P.L. 119-21, the availability of a below-the-line deduction that was not the standard deduction or an itemized deduction was a rare event.