Trump Tax Cuts Boost Income, Savings

[mystery-ak]

Trump Tax Cuts Boost Income, Savings

John Carney 13 Mar 2026

Americans’ disposable income surged in January as the Trump tax cuts began flowing through paychecks, boosting the personal saving rate while consumers held back on spending, according to data released Friday by the Bureau of Economic Analysis.

Disposable personal income rose 0.9 percent in January, nearly triple the 0.3 percent gain recorded in December. The jump reflected a sharp drop in personal current taxes, which fell 3.2 percent — the largest monthly decline in the series in recent memory — as updated withholding tables incorporating the One Big Beautiful Bill Act took effect at the start of the year.

The tax cut legislation, signed by President Trump on July 4, 2025, introduced new deductions for tipped workers, overtime pay, car loan interest, and seniors. Those benefits began showing up in workers’ paychecks in January when employers applied new IRS withholding tables for 2026.

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https://www.breitbart.com/economy/2026/03/13/tax-cuts-boost-income/

[catfish1957]

Good place holder.  Haven't done my taxes yet, but am interested to see the sum effect.

 

[BobfromWB]

Well the No Tax on Social Security went nowhere when they found out that it was illegal.

[catfish1957]

Well the No Tax on Social Security went nowhere when they found out that it was illegal.

For some strange reason Trump keeps touting it though.