Taxes

As Congress considers the possibility of a second reconciliation bill, lawmakers should ensure it reduces deficits rather than adds to them as the...

The recently-enacted One Big Beautiful Bill Act (OBBBA) is expected to significantly boost near-term economic activity, but is unlikely to accelerate...

Earlier this month, the President signed the 2025 reconciliation law – also known as the “One Big Beautiful Bill Act” (OBBBA). The law extended and...

Note: This blog was updated on 8/4/25 to reflect CBO's newly-released estimates of the permanent cost of certain expiring tax provisions in OBBBA. The...

Marc Goldwein is Senior Vice President and Senior Policy Director of the Committee for a Responsible Federal Budget and Anthony Colavito is a Social...

The 119th Congress is expected to use the reconciliation process to pass legislation with a significant fiscal impact, such as extending the expiring...

Updated 7/11/25: On July 1, 2025, the Senate passed its version of the OBBBA by a narrow 51–50 vote —Vice President JD Vance casting the tie-breaker...

The Senate has passed its version of the Fiscal Year (FY) 2025 reconciliation bill – the One Big Beautiful Bill Act (OBBBA). The table below is a...

Although initially excluding any increase in the state and local tax (SALT) deduction cap from its bill, the latest Senate bill proposes even more...

The Social Security and Medicare Trustees estimated in their 2025 annual reports on the programs that the retirement and hospital trust funds will...

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...

Note: the Joint Committee on Taxation (JCT) has put together a current law score of the Senate Finance Committee tax proposals, which roughly match...