We estimate the one big beautiful bill act passed into law will increase long-run gdp by 1. 2 percent and reduce federal tax revenue by $5. 0 trillion from 2025 -2034 on a conventional basis. · below are tpc estimates of revenue and distributional effects of various policies under discussion in the 2025 tax debate. 1, by subtitle, and provides references to related crs products. 9, 2026 — taxpayers may be able to take advantage of new deductions that could reduce taxable income and increase refunds due to the one, big, beautiful bill, passed by congress in july 2025. 1, as passed by the house. Specifically, a set of tables describes each provision in h. r. A small number of title xi provisions that are not directly related to tax policy are omitted. · from standard deduction amounts to tax brackets and medicaid cuts, here’s what individual filers need to know about tax changes in trump s one big beautiful bill. The tax portion of the bill will cost $3. 7 trillion over the next. The budget office. · president donald trump got his “big beautiful bill”—at least in the draft version—and it certainly lives up to the moniker. This report provides a section-by-section summary of the tax provisions in title xi of h. r. · president trump signed the bill into law on . · below is a table that lists how every provision is estimated to affect the federal budget over 10 years, according to the congressional budget office in its final update july 21. · ir-2026-04, jan.
