Taxes
Latest
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Senate OBBBA Violates House Budget Instructions
The latest Senate version of the One Big Beautiful Bill Act (OBBBA) would likely add roughly $4 trillion to the national debt, including interest. 1...
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Senate SALT Giveaway is Far Bigger Than the House's
Although initially excluding any increase in the state and local tax (SALT) deduction cap from its bill, the latest Senate bill proposes even more...
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OBBBA Would Accelerate Social Security & Medicare Insolvency
The Social Security and Medicare Trustees estimated in their 2025 annual reports on the programs that the retirement and hospital trust funds will...
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Senate Reconciliation Bill Could Add Over $4 Trillion to Debt
As it currently stands, the Senate reconciliation bill is likely to add $3.5 to $4.2 trillion to the debt through Fiscal Year (FY) 2034, based on our...
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2025 Reconciliation Resources
The 119th Congress is expected to use the reconciliation process to pass legislation with a significant fiscal impact, such as extending the expiring...
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Senate Proposes $4.2 Trillion of Tax Cuts
Note: the Joint Committee on Taxation (JCT) has put together a current law score of the Senate Finance Committee tax proposals, which roughly match...
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How Much Would OBBBA Pay For Itself?
The House-passed One Big Beautiful Bill Act (OBBBA) would add about $3 trillion to the debt, including interest, on a conventional basis. However...
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Mortgage Costs Could Rise Under Debt-Financed Reconciliation Bill
A deficit-financed reconciliation bill could raise Americans’ mortgage costs by thousands of dollars per year by pushing up interest rates. The House...
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Permanent House Tax Cuts Come with $5.2 Trillion Price Tag
Note: (06/23/2025) Some categorizations and numbers in the table below have been updated to more accurately reflect the bill's potential impact. The...
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Five Ways the Senate Can Improve OBBBA
The House-passed One Big Beautiful Bill Act (OBBBA) would add roughly $3 trillion to the debt including interest through 2034 as written, and we...
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Further SALT Cap Relief Only Benefits High Earners
Raising the current $10,000 cap on the State and Local Tax (SALT) deduction would primarily benefit high earners . Further increasing the cap above...
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Changes Move Reconciliation Bill in the Wrong Fiscal Direction
The House of Representatives may vote on the reconciliation package, or the “One, Big, Beautiful Bill Act” (OBBBA), this week. House leadership...