7 little-known items in Trump's big agenda bill

Yahoo

7 hours ago

When President Donald Trump signs his so-called big, beautiful bill into law Friday, much of the focus will be on its big-ticket items — tax cuts, slashes to Medicaid and food stamp spending and boosted border security funding.
But lawmakers tucked a long list of measures that won't grab headlines into the massive tax and spending package. Here's a look at seven of the lesser-known provisions of the measure:
The space shuttle Discovery, parked at the Smithsonian National Air and Space Museum annex in Northern Virginia since it was decommissioned in 2011, will be relocated. Its new home: Houston.
The bill includes $85 million to pay for its relocation and housing at the Johnson Space Center. The move comes after a push by two Texas Republican senators, John Cornyn and Ted Cruz, who argued Houston's role in the space shuttle program should be recognized.
Commercial space flight companies like Elon Musk's SpaceX will have to pay fees for their launches and reentries – phased in over eight years, and intended to help the Federal Aviation Administration's Office of Commercial Space Transportation keep up with the industry's rapid growth.
The fees will start at 25 cents per pound, capped at $30,000 per launch and reach $1.50 per pound, capped at $200,000 per launch, in 2033, with increases tied to the consumer price index after that.
The poker industry — including those who play for a living, online and in casinos — could be in serious trouble due to a provision that will eat into the profits of those who make money gambling.
Currently, gamblers can deduct their losses before paying taxes on their winnings. Under Trump's bill, though, they'll be able to deduct just 90% of their losses. For example: Win $100,000, but lose $80,000? You'll have made $20,000 but owe taxes on $28,000.
'This new amendment to the One Big Beautiful Bill Act would end professional gambling in the US and hurt casual gamblers, too,' professional poker player Phil Galfond said on X. 'You could pay more in tax than you won.'
The bill includes $257 million to carry out Trump's often-mentioned plans for a makeover of the Kennedy Center for Performing Arts — funding that comes despite the Trump administration's cancellation of grant offers to arts and humanities programs nationwide.
Trump took over one of Washington's premiere cultural spots, remaking the Kennedy Center's board with political allies. He also last month attended the center's opening night of 'Les Misérables,' where he was met with a mix of cheers and boos.
The bill eliminates a $200 fee that gun owners are charged when purchasing silencers and short-barrel rifles, as well as registration and ownership requirements.
It removes those from the scope of the 1934 National Firearms Act, a Prohibition-era law intended to crack down on gangland crime. That law remains in effect for machine guns and explosive devices.
Alaska Sen. Lisa Murkowski used her leverage as the Senate's deciding vote to extract a series of concessions in the final bill for her home state. Among them: An increase, from $10,000 to $50,000, of a tax deduction for whaling-related expenses.
Buying an American-made car between 2025 and 2028? You'll be able to write off up to $10,000 of interest paid on your auto loan. Reaching the full deduction would require a six-figure vehicle purchase, but those buying average cars, trucks and SUVs that qualify for the deduction could save several hundred dollars per year.
On the other hand, those in the market for electric vehicles will see a tax credit created under former President Joe Biden and worth up to $7,500 eliminated at the end of September. It had originally been scheduled to last through 2032.