Key tax changes include:

Tax Cuts: It permanently extends the individual tax rates and the doubled standard deduction originally from the 2017 Tax Cuts and Jobs Act. It also creates new tax deductions for overtime pay and establishes tax relief for seniors on Social Security.
Safety Net Changes: To offset the cost of the tax cuts, the bill mandates major cuts and imposes new work requirements on programs like SNAP (food stamps) and Medicaid.
Business Incentives: It doubles the small business expensing cap and provides permanent tax relief for pass-through businesses.

also includes:

No Tax on Tips: Deductions of up to $25,000 per taxpayer on tipped wages (with phase-outs for Modified Adjusted Gross Income (MAGI) over $150,000 for individuals or $300,000 for couples).
No Tax on Overtime: Deductions of up to $12,500 per taxpayer on overtime earnings (with phase-outs for MAGI over $150,000 for individuals or $300,000 for couples).
Expanded Standard Deduction & Child Tax Credit: The doubled standard deduction has been locked in (rising to $31,500 for married joint filers) along with an increased $2,200 Child Tax Credit.
Senior Deductions: Taxpayers age 65 and older can claim an additional $6,000 standard deduction (up to $12,000 for married couples) through 2028.
Trump Accounts: The federal government contributes $1,000 to newly created tax-deferred retirement or savings accounts for eligible children.