US tax overhaul sees permanent cuts for households and businesses

Economists see the tax cuts in Trump’s One Big Beautiful Bill as a principal driver of the US economy in 2026, both for individuals and businesses. Here’s some detail about what’s in store.

INDIVIDUAL TAX CUTS

A range of changes in individual tax rates and breaks could boost household war chests in early 2026 through a combination of larger refunds during the filing season and larger take-home income as paycheck withholding levels are reset to account for the changes.

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