So what did the One Big Beautiful Bill do? Well, it encompassed a number of tax cuts in 2017 that were set to expire this year, and he extended those permanently. The biggest one was the tax rates on LLCs and S Corps. But the child tax credit, the estate and gift tax exemption, all those have now been permanently extended, which were set to expire, which would have caused a big tax increase if they weren't extended. (00:41–00:46)
CLAIM
Asserts that the biggest tax cut was on LLCs and S Corps.
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