Core Points - The new tax bill proposed by President Trump significantly reduces income tax liabilities for many Americans, with approximately 40% of U.S. households projected to pay $0 in federal income tax by 2025, similar to the 40% in 2022 under the Biden administration [1][2] - The tax cuts specifically benefit certain demographics, including seniors, employees earning tips and overtime, and families with children [3] Group 1 - The One Big Beautiful Bill Act (OBBBA) introduces additional deductions that can help specific groups eliminate their tax bills [3] - For example, a couple earning $100,000 with two children can reduce their taxable income significantly through various deductions, ultimately resulting in a $0 tax bill after applying the child tax credit [4][6] - A retired couple with a combined income of $96,700 can also benefit from new deductions for seniors, reducing their taxable income to $50,000, which is subject to a 0% tax rate for capital gains and qualified dividends, allowing them to pay $0 in federal income taxes [7][8]