Tucked into the bill is $85 million to transport the retired space shuttle Discovery from the Smithsonian’s annex in Virginia to its new residence at Houston’s Johnson Space Center—an effort championed by Texas Senators John Cornyn and Ted Cruz to honor the city’s historic role in shuttle missions.
Private space-flight firms such as SpaceX will start paying lift-off and re-entry charges that begin at 25 cents per pound (capped at $30,000) and ratchet up to $1.50 per pound (capped at $200,000) by 2033, after which the fees will rise with inflation. Funds will bolster the FAA’s Office of Commercial Space Transportation.
Professional and casual gamblers will feel a pinch: only 90 percent of losses may be deducted against winnings. Someone netting $20,000 after $80,000 in losses would still owe tax on $28,000—sparking warnings from poker pros that the change could cripple the industry.
Despite broader cuts to arts grants, the legislation allocates $257 million to renovate the Kennedy Center for the Performing Arts—one of Washington’s cultural landmarks and a favorite venue of President Trump, who recently reshaped its governing board.
The long-standing $200 transfer tax on firearm suppressors and short-barreled rifles disappears, and those items are removed from the National Firearms Act’s stringent registration rules. Machine guns and explosives remain regulated under the 1934 statute.
At the urging of Senator Lisa Murkowski, the allowable write-off for traditional whaling expenses climbs from $10,000 to $50,000, delivering a distinct benefit to subsistence hunters in her state.
For vehicles built in America and purchased between 2025 and 2028, buyers may deduct up to $10,000 in loan interest over the life of the financing. Meanwhile, the existing federal tax credit of up to $7,500 for electric cars will sunset at the end of September, four years earlier than planned.
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