What's Really Inside Trump's Tax and Spending Plan?

The Big, Beautiful Bill: Lesser-Known Items

When President Donald Trump signed the so-called big, beautiful bill, everyone talked about the big changes:

• Tax cuts
• Cuts to Medicaid and food stamps
• More money for border security

But there's more to the story. The bill also includes some lesser-known items that might surprise you.

Space

Space Shuttle Discovery

• Moving from the Smithsonian National Air and Space Museum annex in Northern Virginia to Houston
• $85 million allocated for the move and setting up a new home at the Johnson Space Center
• Pushed by Texas Republican senators John Cornyn and Ted Cruz

Space Flight Companies

• Fees for launches and reentries
• Starting at $0.25 per pound, increasing to $1.50 per pound by 2033
• Funds will support the Federal Aviation Administration

Gambling

• Changes to deductions for gambling losses
• Currently, all losses can be deducted before paying taxes on winnings
• New bill allows only 90% of losses to be deducted

Arts and Culture

Kennedy Center for Performing Arts

• $257 million allocated for renovations
• Contrasts with Trump administration's cuts to arts and humanities programs nationwide
• Trump attended a performance of "Les Misérables," receiving mixed reactions

Guns

• Elimination of $200 fee for buying silencers and short-barrel rifles
• Removal of registration and ownership requirements
• Changes remove these items from the 1934 National Firearms Act

Alaska

• Increase in tax deduction for whaling-related expenses
• From $10,000 to $50,000
• Pushed by Alaska Sen. Lisa Murkowski

Vehicles

American-Made Cars

• Tax deduction for interest paid on auto loans
• Up to $10,000 for purchases between 2025 and 2028

Electric Vehicles

• Elimination of tax credit at the end of September
• Credit was worth up to $7,500
• Originally supposed to last through 2032