How President Trump's tax & spending law will affect Americans' wallets

By Ashley Lopez,

Published July 7, 2025 at 4:30 PM EDT

President Trump has promised that his newly signed tax and spending law will be a boon for taxpayers and the economy as a whole. We dig into what the legislation really does and what it could mean for Americans' wallets.

This episode: political correspondent Ashley Lopez, senior national political correspondent Mara Liasson, and chief economics correspondent Scott Horsley.

This podcast was produced by Casey Morell & Bria Suggs, and edited by Rachel Baye. Our executive producer is Muthoni Muturi.

Listen to every episode of the NPR Politics Podcast sponsor-free, unlock access to bonus episodes with more from the NPR Politics team, and support public media when you sign up for The NPR Politics Podcast+ at plus.npr.org/politics.

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Ashley Lopez

Ashley Lopez is a political correspondent for NPR based in Austin, Texas. She joined NPR in May 2022. Prior to NPR, Lopez spent more than six years as a health care and politics reporter for KUT, Austin's public radio station. Before that, she was a political reporter for NPR Member stations in Florida and Kentucky. Lopez is a graduate of the University of North Carolina at Chapel Hill and grew up in Miami, Florida.

Mara Liasson

Mara Liasson is a national political correspondent for NPR. Her reports can be heard regularly on NPR's award-winning newsmagazine programs Morning Edition and All Things Considered. Liasson provides extensive coverage of politics and policy from Washington, DC — focusing on the White House and Congress — and also reports on political trends beyond the Beltway.

See stories by Mara Liasson

Scott Horsley

Scott Horsley is NPR's Chief Economics Correspondent. He reports on ups and downs in the national economy as well as fault lines between booming and busting communities.

See stories by Scott Horsley