Newsday: From taxes to health care to immigration, Trump's 'big, beautiful bill' will have big impact on Long Island

The sprawling budget bill Congress passed this week, which Trump signed into law at a July Fourth White House ceremony, will touch Long Island in a variety of ways...The cornerstone of the megabill was extending the 2017 tax cuts congressional Republicans passed during Trump’s first term that were set to expire at the end of this year. 

The current bill makes the majority of those cuts permanent, but also adds some new temporary provisions, including increasing the cap on state and local tax deductions to $40,000 for households earning $500,000 or less for the next five years, after which it will default back to the $10,000 cap first initiated in the 2017 Trump-backed bill.

Matt Cohen, president and CEO of the Long Island Association, a nonpartisan business group, lauded Garbarino and LaLota for their work negotiating an increase amid opposition from red-state Republicans, but said the group is still examining the long-term impacts the overall bill will have on Long Island.

"The reinstatement of SALT has been the holy grail for Long Islanders and kudos to Congressmen Garbarino and LaLota for delivering significant changes to it which will impact many more taxpayers, jolt our economy, and make our region more affordable," Cohen said in an email to Newsday. "While other provisions of the bill like making permanent a small business tax deduction will benefit us here, we are examining how the legislation will impact health care, renewable energy, food security and the national deficit."