Two of Donald Trump’s boldest campaign tax pledges—no tax on tips and no tax on overtime—have officially been introduced into congressional legislation, marking a significant leap forward for his 2024 platform and laying the groundwork for what he’s dubbed the “Golden Age of America.” But like many ambitious political visions, these measures come with caveats: they’re temporary and timed to expire just as a potential second Trump term ends.
The proposals are part of a sprawling 389-page legislative package revealed by the House Ways and Means Committee, the central economic engine behind Trump’s tax push. The so-called “one big, beautiful bill,” as Trump describes it, incorporates not only the No Tax on Tips Act and No Tax on Overtime, but also a provision to end taxes on auto loan interest—another Trump campaign promise now in black and white.
All three provisions would sunset after 2028, aligning with the potential end of a Trump second term. It’s a strategic choice, one that maximizes immediate impact while postponing long-term budget debates. As expected, the move bypasses the usual Senate gridlock thanks to budget reconciliation rules, which only require a simple majority for passage.
Despite the momentum, Trump’s call to eliminate taxes on Social Security for seniors hit a procedural wall. Due to the special budget rules governing the bill, the full repeal could not be included. Instead, the legislation offers a $4,000 deduction for low- and middle-income seniors per year—a partial victory that still signals the GOP’s intent to recalibrate the tax burden for retirees.
On Truth Social, Trump declared:
“We are going to do NO TAX ON TIPS, NO TAX ON SENIORS’ SOCIAL SECURITY, NO TAX ON OVERTIME, and much more. It will be the biggest Tax Cut for Middle and Working Class Americans by far, and it is time for Main Street to WIN.”
That rallying cry reflects Trump’s effort to position the bill as a populist counterpoint to prior eras of elite-driven economic policy.
Democrats are raising alarms—not about the tax cuts themselves, but the tradeoffs. They warn the package could result in millions of Americans losing health care coverage, especially if corresponding budget offsets lean on slashing welfare or Affordable Care Act subsidies. They also challenge the long-term sustainability of a bill that includes trillions in tax breaks alongside a $4 trillion debt ceiling increase.
Meanwhile, GOP lawmakers are still sparring over internal details—particularly how deep and how broad the benefits should go. Trump, for his part, is demanding party unity, urging Republicans to “UNIFY behind Ways and Means Chairman Jason Smith” and push the bill across the finish line by July 4—symbolically tying the legislation to a celebration of American independence and economic revival.