Bernie Moreno, U.S. Senator for Ohio, said that President Trump's "Big Beautiful Bill" would prevent new taxes on tips, overtime, Social Security, and auto loans. It would also expand the Child Tax Credit for working families and stop a $4 trillion tax increase. This statement was made on X.
"Let's run through what President Trump's Big Beautiful Bill actually does," said Moreno, United States Senator. "No tax on tips, overtime, Social Security, & auto loans. No Medicaid benefit cuts. Expands the Child Tax Credit for working families. Stops a $4 TRILLION tax increase. Let's pass this thing!"
President Trump’s proposed tax package is being discussed in the context of the 2025 budget reconciliation process. The proposal seeks to extend or make permanent certain provisions from the 2017 Tax Cuts and Jobs Act. The plan has sparked debate among policymakers about its projected costs and economic impact. According to the Tax Foundation, there is ongoing analysis of these proposals and their fiscal implications.
Gig economy workers, such as those earning tips or working multiple jobs, are subject to specific tax rules and reporting requirements. The Low Incomes Tax Reform Group notes that many gig economy participants may not be aware of their obligations, leading to compliance challenges. They emphasize accurate record-keeping and understanding taxable income sources in their guidance.
Research by the Institute for Fiscal Studies highlights ongoing discussion over how gig economy workers and digital platforms should be taxed. Their publication reviews tax reporting, withholding obligations, and the challenges platforms face in ensuring worker compliance. Policymakers are considering reforms to adapt to new forms of work and income.
Moreno was born in Bogotá, Colombia, immigrating to the United States at age five and later becoming a citizen at 18. Before serving in the Senate, he built one of the largest auto dealership groups in America and co-founded a successful blockchain technology company.
