White House Press Release - ICYMI: President Trump's Largest Tax Cut in History

Last night, President Donald J. Trump renewed his call for Congress to pass the "one big, beautiful bill" and once again deliver the largest tax cuts in history to the American people.

In addition to finally exempting tips, overtime, and seniors' Social Security from taxes, here's what else that means:

• Real wages will go up by as much as $3,300/year.
• Take-home pay for median-income households will increase by as much as $5,000/year.
• Short-run real GDP will be boosted by 3.3-3.8% and long-run real GDP by 2.6-3.2%.
• 4.1 million jobs will be saved.