DENVER — President Donald Trump’s tax and spending bill will mean big changes for Coloradans, from the taxes you pay to Medicaid and immigration.
Denver7 dug into the nearly 900-page bill to get answers about when Coloradans can expect to start feeling the effects of some of the key provisions.
Some changes will begin in a matter of weeks, while others won’t kick in for a few years.
- Read the full bill below
Tax credits for electric vehicles and solar energy
If you’re looking to buy an electric vehicle, you may want to act soon. A provision in the new law gets rid of the $7,500 federal tax credit that made buying electric vehicles significantly cheaper.
The tax credit, which was set to expire in 2032, will now expire on September 30, 2025.
A federal tax credit that helped homeowners cut the cost of installing solar panels by 30 percent will also end much sooner. Originally set to expire in 2032, it will now expire on December 31, 2025.
Tax changes
Coloradans will notice changes when filing their taxes next year.
The 2017 tax cuts, which were set to expire this year, will continue. While that might not feel like a tax cut, there are new provisions that will lower tax bills, including an increase in the standard deduction (increasing by $750 for single filers and $1,500 for couples).
Taxpayers age 65 and older will get a break, as the law increases the senior bonus deduction by $6,000.
Workers will also be able to deduct up to $25,000 on tips when filing federal taxes next year and up to $12,500 on overtime pay. Those provisions will expire in 2028.
Changes to SNAP, Medicaid
No timeline was given for provisions expanding work requirements for the Supplemental Nutrition Assistance Program (SNAP), which means they could potentially start this year.
Many of the changes to Medicaid, including new work requirements, won't take effect until after the 2026 mid-term election. Provisions that critics say will result in cuts to Medicaid and food programs also won't begin until after the 2026 election.
It'll be up to states like Colorado to figure out how to implement all the requirements, a task many state officials are dreading.
Immigration
The bill provides $150 billion for immigration enforcement, including $45 billion for US Immigration and Customs Enforcement (ICE) to build more detention centers through 2029.
While the debate over the president's "Big, Beautiful Bill’ is now over in Congress, its impact will be felt by Coloradans for years to come as the law is implemented.
