On July 4, 2025, US President Donald Trump signed the One Big Beautiful Bill Act, which extends the 2017 tax cuts and overhauls Opportunity Zones.| Fair Observer
For Congress, work on the One Big Beautiful Bill Act is done. But in state capitols, the work has not yet begun. Many of the tax changes in the federal reconciliation act flow through to state tax codes—automatically in some states, and subject to an update in states’ Internal Revenue Code conformity date in others.| Tax Foundation
Our experts explain how this major tax legislation may affect you and how policymakers can better improve the tax code.| Tax Foundation
Passage of the Big Beautiful Bill will force mandatory sequestration that will mean half a trillion dollars in Medicare cuts.| The American Prospect
If the federal government really wanted to make saving more accessible for taxpayers, it would swap the proposal for Trump Accounts to replace the complicated mess of savings accounts currently available with universal savings accounts.| Tax Foundation
For Immediate Release: July 1, 2025Contact: Amy Blouin, U.S. Senate Passes Budget Reconciliation Senate-passed budget reconciliation bill puts health coverage and food assistance for hundreds of thousands of Missourians on the chopping block In a final vote this morning, the U.S. Senate chose to take health coverage and food assistance away from Americans, shift costs to states, and make life harder for families struggling to make ends meet. If passed by the House, it would enact a massiv...| Missouri Budget Project
We estimate the One Big Beautiful Bill Act would increase long-run GDP by 1.2 percent and reduce federal tax revenue by $5 trillion over the next decade on a conventional basis.| Tax Foundation
Residential solar is on a downturn, and things may get worse. In a shock for the industry, the latest draft of the “One Big Beautiful Bill Act” excludes residential solar lease providers from the Investment Tax Credit.| pv magazine USA
The House "One Big Beautiful Bill" includes a new 3.5 percent tax on remittances, or non-commercial transfers of money that people in the US send to people abroad.| Tax Foundation
Our preliminary analysis finds the tax provisions increase long-run GDP by 0.8 percent and reduce federal tax revenue by $4.0 trillion from 2025 through 2034 on a conventional basis before added interest costs.| Tax Foundation
Policymakers have passed legislation to extend many provisions of the 2017 Tax Cuts and Jobs Act (TCJA) alongside dozens of new tax provisions.| Tax Foundation
Thank you to everyone who contacted their representatives, House leadership, and House Natural Resources Committee members. The unwavering efforts of Indigenous leadership and the Defend Brooks Range/No Ambler Road campaign have shown time and time again that Alaskans (and Americans at large) do NOT want the Ambler Road. The post Update: There is a bit of good news with budget reconciliation appeared first on Northern Alaska Environmental Center.| Northern Alaska Environmental Center
The House Natural Resources Committee recently included language in the budget reconciliation bill that would force approval of the Ambler Road. Tribes, Defend Brooks Range Coalition, and allies have tirelessly advocated for the protection of this incredible region, achieving the "No Action Alternative" selected by the Department of the Interior in 2024. The post All roads to Ambler lead back to D.C.—take action to keep Ambler out of budget reconciliation! appeared first on Northern Alaska ...| Northern Alaska Environmental Center
It’s not just what they say over the next few weeks — it’s when they say it.| Heatmap News
It takes a credible threat to bend the budget.| Heatmap News
Tax credit transferability is a wonky concept, but it’s been a superpower for clean energy developers.| Heatmap News
With the political shift in Washington D.C., the legislative whirlwind of budget reconciliation could be a disaster for the Arctic National Wildlife Refuge and all of Alaska. The post Budget reconciliation could take a huge toll on Alaska appeared first on Northern Alaska Environmental Center.| Northern Alaska Environmental Center
President Trump has called for permanent extension of the 2017 tax cuts, additional policies including no taxes on tips, overtime pay, and Social Security benefits for retirees, and has also promised higher taxes on US imports through a series of new tariffs.| Tax Foundation
Permanently extending the expiring individual, estate, and business tax provisions would boost long-run economic output by 1.1 percent, the capital stock by 0.7 percent, wages by 0.5 percent, and hours worked by 847,000 full-time equivalent jobs.| Tax Foundation