No-tax-on-tips, no-tax-on-overtime, the senior deduction, and car loan deduction all expire under the One Big Beautiful Bill Act

Multiple temporary tax provisions from the One Big Beautiful Bill Act expire on December 31, 2028: the exemption from federal income tax on tip income (affecting approximately 4 million workers), the exemption on overtime pay, the expanded senior deduction ($6,000 above-the-line deduction for taxpayers 65 and older), the car loan interest deduction for American-made vehicles, and accelerated factory expensing for domestic manufacturing equipment. CBO scored these provisions as costing hundreds of billions in foregone revenue over 10 years. If Congress does not extend them before the deadline, workers who received these benefits lose them on January 1, 2029 — just before the 2030 midterm cycle begins. The OBBBA also cuts the new "Trump Accounts" baby savings program contributions off on this date.