President Trump’s newly signed tax and spending law is attracting attention for major items like tax cuts, Medicaid reductions, food stamp changes, and more border security funding. But hidden within the bill are several lesser-known provisions with wide-reaching effects.
1. Space Shuttle Discovery Moving to Houston
Eighty-five million dollars have been allocated to relocate the retired space shuttle Discovery from the Smithsonian museum in Virginia to the Johnson Space Center in Houston. The move was pushed by Texas Senators Ted Cruz and John Cornyn, citing Houston’s historical role in space exploration.
2. New Fees for Space Launch Companies
Private space companies like SpaceX will now have to pay launch and reentry fees, gradually increasing over the next eight years. By 2033, fees could reach one dollar and fifty cents per pound, capped at two hundred thousand dollars per launch.
3. Tax Breaks for Gamblers Reduced
Gamblers will no longer be able to deduct one hundred percent of their losses. Under the new law, only ninety percent of gambling losses can be written off, meaning some gamblers may owe taxes on more than their actual winnings.
4. Kennedy Center Renovation Funded
Two hundred fifty-seven million dollars have been set aside for renovations to the Kennedy Center for Performing Arts in Washington, D.C., a favorite venue of Trump, even though his administration cut other arts and humanities funding.
5. Silencer and Short-Barrel Rifle Fees Removed
The two hundred dollar fee for purchasing gun silencers and short-barreled rifles has been eliminated. These weapons are no longer subject to the restrictions of the 1934 National Firearms Act, although the law still applies to machine guns and explosives.
6. Bigger Tax Deduction for Whaling Captains
Senator Lisa Murkowski of Alaska secured a provision raising the tax deduction for expenses related to traditional whaling from ten thousand dollars to fifty thousand dollars.
7. Auto Loan Interest Deduction Introduced
Between 2025 and 2028, buyers of American-made vehicles can deduct up to ten thousand dollars in auto loan interest. However, the seven thousand five hundred dollar tax credit for electric vehicles, introduced under President Biden, will be canceled in September.