Higher earners could benefit most from the tax bill in the short run, but future generations of all incomes would be 'worse off,' per a new analysis.

President Donald Trump signed the self-proclaimed "big beautiful bill" into law on Friday, July 4. Here's what it means for you.

The GOP megabill has new tax breaks aimed at low- and moderate-income households, and spending cuts that could make it harder for some to receive public assistance or hold onto health insurance.