President Trump signed the Big Beautiful Bill, which made extensive changes to the tax code and government programs like Medicaid and SNAP. Analysis shows that some retirees, especially those with higher incomes, could see a lifetime increase of $120,000 due to provisions in the legislation. The Penn Wharton Model assessed impacts on different demographic groups and found promising benefits for seniors. However, since the legislation has just passed, the overall economic impact and effectiveness of predictions remain uncertain.
The Penn Wharton Model looked at the impact of the Big Beautiful Bill on different demographic groups. Based on the House version, the Penn Wharton model found that 70-year-olds who were making a high income could end up with as much as $120,000 more money in their pockets over the remainder of their lifetime.
President Trump signed the Big Beautiful Bill into law, making huge changes to the tax code, as well as to popular government programs, including Medicaid and SNAP benefits.
Some retirees will see a windfall of $120,000 over their lifetime due to tax cuts and benefits provided by the Big Beautiful Bill.
The full impact of the Big Beautiful Bill is not yet known as the law has just passed, leaving uncertainty about economic effects and predictions.
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