Tax changes under Trump’s 'big beautiful bill' — in one chart

Congress passed President Donald Trump’s tax megabill Thursday

The “big beautiful” bill extends sweeping tax cuts, while adding a senior "bonus" to offset Social Security taxes and a bigger state and local tax deduction among other measures

Here are the key tax changes and how the current law compares to the new legislation

Alex Wroblewski | AFP | Getty ImagesPresident Donald Trump signed his party's tax and spending package into law on Friday, ushering in major changes to Americans' finances

The GOP's marquee "one big beautiful bill" makes Trump's 2017 tax cuts permanent while adding a senior "bonus" along with a bigger state and local tax deduction and higher estate and gift tax exemption

Among other tax visions, the megabill also includes breaks for tip income, overtime pay and auto loans, as well as the creation of a new tax-advantaged savings account for children

The chart below outlines these key tax changes and how they could impact your wallet

For more on how the legislation affects your money, check out our guide.