This story is part of CT Mirror Explains, an ongoing effort to distill our wide-ranging reporting into a "what you need to know" format and provide practical information to our readers.

A number of provisions in President Donald Trump’s blockbuster bill to enact his second-term agenda will go into effect throughout the year.

Some parts of H.R. 1, the One Big Beautiful Bill Act, have already been implemented since Republicans in Congress approved the legislation last July. That included new work requirements to qualify for federal nutrition assistance.

This year will bring some significant changes for taxpayers in Connecticut and across the country, ranging from student loan programs to new savings accounts to new tax breaks filers can claim when submitting their tax returns in the spring.

Some of the most talked about parts of the “big beautiful bill” — changes to social services like Medicaid and the Supplemental Nutrition Assistance Program, or SNAP — could also be on the horizon toward the end of year.

Here’s some of what to expect from the law throughout 2026.

What new tax relief and changes go into effect?

While some provisions applied to 2025, taxpayers will start to see those changes when they file tax returns this year, like an increase to the standard deduction.

Many of the tax breaks from the 2017 Tax Cuts and Jobs Act were made permanent. Wealthier Americans and corporations stand to disproportionately benefit from the law. In Connecticut, high-income residents will see average tax breaks of almost $10,000 and low-income residents will pay an average of $417 more a year.

It also includes new — but temporary — tax breaks: deductions for overtime pay or tips from their federal income tax (with an income limit); an increase in the cap for state and local taxes, or SALT, deductions to $40,000 (phased out for those earning over $500,000); a small bump in the child tax credit; and an additional $4,000 deduction for seniors who are 65 and older with low to middle incomes.

On Jan. 1, the law ended the $200 excise tax on firearm suppressors, sometimes referred to as silencers, and short-barreled rifles.

There will also be a number of new tax breaks coming to an end — many of those that reflect Trump and Republicans’ priorities.

Some will come to an end on June 30, like one providing a credit for up to $1,000 for installing electric vehicle charging equipment for homes and businesses. Another tax incentive will phase out for commercial builders to make energy efficient upgrades. Construction starting after June 30 won’t qualify for it.

What changes are coming to student loan programs?

Some student loan repayment plans are ending this year. And some of the biggest changes on this front will affect graduate students and parent borrowers this summer.

Starting on July 1, there will be limits on parents taking out loans to help their child pay for college, also known as Parent PLUS loans: an annual cap of $20,000 per child or a $65,000 lifetime cap per child. There is currently no fixed limit or a lifetime maximum.

That same month, the Grad PLUS loan program will end after two decades. New caps will apply to those who want to take out loans to attend graduate school: a lifetime cap of $100,000 for a master’s degree and a $200,000 lifetime cap for professional degrees to practice things like law and medicine. Under the current rules, borrowers can take out the full cost of tuition no matter the costs.

Are changes to SNAP and Medicaid happening in 2026?

In many cases, yes. But states may be able to delay some of the reforms that’ll likely lead to cuts.

Expanded SNAP work requirements will affect about 36,000 residents in Connecticut, who could lose their benefits in 2026. They are expected to lose coverage between Dec. 1, 2025 and March 31, 2026. The new requirements apply to able-bodied adults between 55 and 64 or those with children who are 14 and older. More people will need to work, train or volunteer at least 80 hours a month, though there are some exemptions.

Starting Oct. 1, states will have to absorb more costs related to SNAP. Connecticut will need to pay for 75% of the administrative costs, which used to be evenly shared with the federal government.

On Dec. 31, states will need to increase how often they check the eligibility for enrollees covered under Medicaid expansion. Redeterminations will now happen every six months.

It’s possible the implementation of first-time work requirements for Medicaid could go into effect that day. Though states like Connecticut may be able to receive a waiver to delay for a couple of years. Those work requirements will look similar to the ones that apply to SNAP beneficiaries.

When will ‘Trump accounts’ become available?

The bill gives parents the option to enroll in new savings accounts — referred to in the legislation as “Trump accounts” — for children under the age of 18. They are intended to give kids an early investment that can be used for purposes like attending college or purchasing a home.

The federal government will provide a one-time deposit of $1,000 for babies born between Jan. 1, 2025 to Dec. 31 2028, and invest it in the stock market.

Individuals can contribute a combined total of up to $5,000 a year through the age of 18. Once that person turns 18, they’ll have access to the account.

The administration says the accounts will become available around July 4. But parents and guardians can enroll now by filling out Form 4547 through the IRS when filing their tax returns. An online portal will eventually be available on the government’s website. When the accounts go live over the summer, private financial institutions will manage them.

Wealthy donors are pledging to contribute to these accounts. Billionaire hedge fund manager Ray Dalio and his wife Barbara Dalio said they’ll give $250 to 300,000 children in Connecticut who are under the age of 10. Children must reside in zip codes where the median annual income is under $150,000. But the kids who were born prior to 2025 wouldn’t be eligible for the $1,000 contribution from the government.

The accounts function like tax-advantaged savings plans like IRAs. They resemble baby bonds programs, though state officials say Connecticut’s program has a narrower approach to focus on low-income families.