Among the most notable provisions are making permanent the individual tax changes first put in place in 2017; additional tax cuts to individuals and businesses, including new deductions for tips and overtime pay; an expanded child tax credit and standard deduction; a permanent 100% bonus depreciation and domestic research and development expensing.

The law could be applied to any fully insured group plan with at least one participant in California.

As the Social Security Trust Fund is projected to run dry in 2033 and DOGE cuts are taking a toll on access to benefits, workers say Congress should increase the Social Security payroll tax rate or raise the retirement age, according to a Transamerica report.