Editor's Note: Provisions for utilizing HSA funds for ancillary expenses were removed from the final version of the bill, and the article has been corrected accordingly.

During a recent episode of “The Ramsey Show,” personal finance expert Dave Ramsey and co-host George Kamel broke down President Donald Trump‘s newly passed legislation,  dubbed the “One Big Beautiful Bill Act.” Their verdict? It's mostly minor tax tweaks dressed up in bold branding.

Ramsey: ‘Quit Waiting On The White House To Fix Your House’

“There’s no big beautiful thing in here,” Ramsey said. “It’s a bunch of nickel and dime stuff.” While some provisions might help everyday Americans, Ramsey was straightforward: personal finance still comes down to individual responsibility. “Quit waiting on the White House to fix your house,” he said.

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One of the biggest wins, according to the hosts, is that the 2017 tax cuts were made permanent. Most Americans—around 90%—take the standard deduction, and this move keeps taxes simpler and lower for them. “It keeps you from having to pay federal income tax for a whole bunch of you at all just because you get this huge standard deduction,” Ramsey said.

Tax Breaks On Tips, Overtime And More

Temporary deductions for tips and overtime are also part of the bill, running from 2025 to 2028. Workers can deduct up to $25,000 in tips and $12,500 in overtime income, with higher limits for couples. But those benefits phase out for individuals earning more than $150,000 or couples over $300,000. “That’s still a few thousand bucks for most people that work on tips,” Kamel noted.

Ramsey also highlighted a one-time $1,000 "Trump Account" for babies born between 2025 and 2028. It's held by the Treasury and has usage restrictions. “It’s just a thousand bucks,” Ramsey said. “I’m not sure how they’re investing it. I’m not sure how much control you’ll have,” Kamel added.

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EV Credits Gone, Car Loan Perks For Debtors Only

It also removes credits for rooftop solar and other energy-efficient upgrades after 2025. Meanwhile, those who finance new American-made vehicles can now deduct up to $10,000 in loan interest annually. Ramsey pushed back: “Why only let the people who took out debt benefit from this? That’s an odd one.”

Medicaid is also changing. By 2026, most childless adults must document 80 hours of work, training or volunteering per month to qualify. Kamel noted, “That’s about a part-time job right there.”

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Other Changes: Some Useful, Others Symbolic

According to Ramsey, the child tax credit increases to $2,200, and more people will benefit from other perks/benefits. 529 education savings plans were also expanded to cover tutoring, dual enrollment and trade school expenses.

Charitable contributions get a small boost too. Starting in 2026, taxpayers can deduct up to $1,000 in donations—$2,000 for couples—even with the standard deduction. Ramsey wasn't impressed: “It’s a whole thousand. Whoopee. No big deal.”

Small business owners under $31 million in revenue will benefit from the return of the research and development tax credit. Ramsey called that move “big” and said it was a long-overdue fix.

While the bill may offer a few financial perks, Ramsey emphasized it won’t radically improve anyone’s life. “I don’t see someone on a golden horse riding in to save your day here,” Kamel said. The bill raises the debt ceiling by $5 trillion, expected to last through Trump's term.

Ramsey concluded. “It’s a bill. I’ll give them that.”

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