It’s fitting that President Trump is aiming to sign a big, beautiful bill by July 4th. Americans will have the freedom to maintain more of what they earn.

The bill provides for income taxes entirely and entirely for American households and tax cuts that create strong, jobs-creating taxes for American businesses. Tax cuts will increase take-home wages, making America even stronger and more competitive.

House and Senate Republicans will send bills to President Trump’s desk in the coming days.

To begin, the bill will prevent a $5 trillion tax increase on Americans. Thankfully, the GOP has full control of the House, Senate and the presidency. Because if Kamala Harris wins last November, Trump’s tax cuts in 2017 would expire on December 31st.

Harris repeatedly said,lose“Trump’s tax cuts. If that happens, all American taxpayers will see their income tax rate rises back to the higher levels of the Barack Obama era.

Thankfully, President Trump has campaigned and vowed to make Trump’s tax cuts permanent. (Related: Exclusive: Major House conservatives calling Senate bluffs on Trump’s “beautiful” bill)

Permanent Tax cuts in the bill are primarily important.

By permanently reducing tax rates and business costs, American companies can invest in productivity-increasing technology, buy new trucks, factories and equipment, and hire more employees who are safe to understand what the tax rules are now. This also means that businesses can afford to pay more to their workers. The tax bill will increase annual real wages per worker up to $7,200 over the first four years of implementation. analysis By the Economic Advisors Council.

Secondly, the big beautiful bill enacts taxes on Trump’s hint promises. This includes cutting-edge employees, independent contractors and the gig economy. It’s barbers, stylists, restaurant servers, bartenders, drivers, delivery workers, caddies, dozens of other Traditionally inclined occupation.

The bill also expands standard deductions, while simultaneously providing income tax cuts and tax simplification.

The bill will extend tax easing for small and medium-sized businesses, expand tax credits per child, end taxes on overtime, and ease taxes for seniors.

The bill will also be passed on to the IRS by abolishing Biden. 1099-K IRS Surveillance Act. This IRS document nightmare forces Americans to deal with invasive documents every time Americans use Venmo or PayPal for more than $600 in a given year.

There’s no longer a need to prove to IRS agents that Venmo transfers from his roommate and covers a portion of his rent that is not taxable income. Alternatively, funds collected to purchase tickets will not be taxed. The same applies to the payments you received when you sell an old bike or a lawnmower from your garage.

A big beautiful bill will help the economy grow faster, creating more jobs and higher wages in the process.

President Trump is a historic tax cutter, and the bill is based on his success.

The economy increased significantly if the company’s income tax rates fell from 35% (even higher than China’s 25%) to 21% from the world, where Trump was the highest developed company.

Before Trump’s 2017 tax cut, many companies “inverted.” They were acquired by a foreign company and moved their headquarters overseas.

why? The tax rates and troublesome laws of the time required that revenues earned abroad be taxed again if brought back to the US. This meant that many companies would have more value if they moved to France or Canada.

Not now. Large corporations have not “inverted” since Trump’s tax reforms. The companies are currently moving to the US.

Trump’s signature on a major tax cut would reward hardworking Americans and turbo-charged American economic growth. And leave the Euroweenie in the dust.