US President Donald Trump’s “Big Beautiful Bill” was signed into law on July 4. While it didn’t impose a moratorium on state-level artificial intelligence laws as anticipated, it did include a substantial 35% tax credit for semiconductor manufacturers.

Now that the tax and spending bill ahs been signed into law, how it will impact the finances of Americans is more clear.

Congress passed the tax cut and spending megabill with President Trump's legislative priorities which includes new tax exemptions for tipped hourly workers. But how will it work?