President Donald Trump’s “big, beautiful bill,” which he signed into law earlier this month, includes major wins for business interests that carried out aggressive lobbying campaigns on Capitol Hill to secure favorable treatment for their industries.

Now that President Donald Trump signed the bill, workers will be able to deduct up to $25,000 in reported tips and $12,500 in overtime pay from their taxable income on their federal tax returns.

The US president’s "One Big Beautiful Bill", an extraordinary mix of tax cuts and spending plans, has made it through both houses of the US Congress. What will be the consequences?