Impact of the tax and spending bill

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As Marketplace's Henry Epp reports, without those caps, the way parties raise and spend money could quickly change. Before this decision, national political parties had to operate two sets of funds for coordinated spending, where the main office consults with the candidate's campaign, and another larger one for independent spending, where the party isn't allowed to coordinate with the candidate, says Robin Kalodney, a political science professor at Temple University. Now there is no distinction between that independent expenditure spending arm and the central office So candidates and parties can jointly decide how to spend all of that money. That new freedom will likely lead to parties asking more donors for more money, says Kee Hong, head of political laaw at the law firm Skadden They are going to point to this case to essentially say, look, you know it's a new day. your money can be used for unlimited coordinated expenditures Political parties have lost fundraising ground to super pACs, which can accept unlimited amounts from donors. The court majority suggested that getting rid of coordination limits could shift some of that influence back to parties. Earon Clopak at the Campaign Legal Center says it will likely do something else I think what it really does is just create another vehicle for wealthy donors to direct money even more directly to candidates The ruling, she says, may just increase the total amount of money influencing elections. I'm Henry App for Marketplace Speaking of money and politics, a federal filing released Tuesday shows President Trump made nearly one point two billion dollars from his crypto businesses in twenty twenty five. The profit is from selling crypto products such as his meme coins and so called governance tokens. The president made at least two point two billion dollars last year, according to the report That figure includes his crypto businesses as well as real estate assets. The filing is part of a nine hundred and twenty seven page disclosure form published by the US Office of Government Ethhics Everything is in constant reinvention, Gobal dynamics, your industry, your organization, which means your workforce must continuously adapt. But it's hard to make confident workforce decisions if your data is fragmented, and it's hard to keep your workforce ready when your processes are slow. Cornerstone is your intelligence platform for workforce readiness. With the insights leaders need, the skills development people want and AI agents that make action easy Cornerstone the intelligence to know the wisdom to act. Learn more at csodD d. com slash human AI Thiscast is supported by Dell. Back to school starts now. get long lasting battery life on the Dell XPS laptop powered by Sies three Intel Core so that you can work from anywhere Now starting at six hundred and ninety nine dollars with exclusive student pricing starting at five hundred and ninety nine dollars, and it's lightweight, portable, and packed with enough processing power to make multitasking a breeze So, say goodbye to distractions and hello to more Free T because you finished your work faster Complete your setup with savings on select monitors and more must have electronics and accessories. Limited time deals and free shipping on PCs and more await you at deell. com slash deals That's deell. com slash deals. This week marks a year since Congress passed the Republican tax and spending bill, the one big beautiful bill act. Today, we're taking a look at how some of the provisions from the law have played out, including who has benefited Most. For more, I'm joined now by Andrew Lautz, director of tax pololicy at the Bipartisan Policy Center. Good morning, Andrew Thanks so much for having me on. Remind us of some of the headline tax effects of this legislation. The twenty twenty five tax law extended A number of expiring tax cuts from Republican' last major tax law, the twenty seventeen tax cuts and Jobs Act. They also included a number of new tax cuts, many of which were priorities of President Trump. And these are some of the tax cuts you've heard most about in the year since this pass into law, the tips deduction, the overtime deduction, the auto loan interest deduction You and your colleagues at the bipartisan Policy Center also have a list of quote unquote wins from this legislation that maybe didn't get as much attention as some of those headline ones you just mentioned. What are some of the provisions that maybe flew under the radar Sure, A few worth mentioning here, the child tax credit was increased under the onene Big Beautiful bill. The maximum credit was two thousand dollars per child. It's now two two hundred dollars per child. So the vast majority of parents and families who are claiming the child tax credit got a little bit of a boost someomewhere between eighty five percent and ninety percent of all taxpayers take the standard deduction