In my view, the “big, beautiful bill” represents a missed opportunity to leverage fiscal policy to address the American wealth and income gap. Instead of investing in programs to lift up low- and middle-income Americans, the bill emphasizes a regressive approach that will further enrich the wealthy and deepen existing inequalities.

As a candidate, Trump promised to lift taxes on overtime. The new law allows workers to deduct up to $12,500 in overtime compensation (for single filers) or $25,000 (for joint filers). This deduction phases out for income levels between $150,000 and $275,000 (for single filers) and $300,000 and $550,000 (for joint filers).

An analysis by a think tank found that annual household energy costs in the state will increase $110 by 2030 and $410 by 2035.