⚡️ Here’s what the major tax provisions in the One Big Beautiful Bill means for the US economy, government revenue, deficits, and taxpayers. Our latest analysis:

The American Revolution, celebrated on July 4 with Independence Day, was a tax revolt—just not over the burden of taxes, but rather the power to tax.

The bill also temporarily provides 100% expensing for qualifying structures.

The One Big Beautiful Bill Act makes permanent one of the most pro-growth tax policies available: 100% bonus depreciation and R&D expensing permanent.

RT @TaxFoundation: Here’s what the major tax provisions in the One Big Beautiful Bill means for the US economy, government revenue, deficit….

RT @ericadyork: Coolest OBBBA provision: temporary full expensing for some buildings. Normally, commercial buildings must be depreciated o….

RT @EconoWill: This is the most unexpected pro-growth measure in the bill, from the perspective of the years leading up to this moment when….

RT @danieldbunn: There are many pieces of work I'm glad that our team at @TaxFoundation did during the lead-up to this bill, but two key on….

Here’s what the major tax provisions in the One Big Beautiful Bill means for the US economy, government revenue, deficits, and taxpayers:

RT @ericadyork: 100% bonus depreciation and R&D expensing are permanent US tax policy!.

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.

RT @TaxFoundation: ⚡️ Here’s what the major tax provisions in the One Big Beautiful Bill means for the US economy, government revenue, defi….

The One Big Beautiful Bill Act permanently extends the TCJA individual income rates and brackets alongside the expanded standard deduction, preventing a tax increase on 62 percent of tax filers and simplifying the US tax code for millions of taxpayers.

Will the One Big Beautiful Bill Act lead to an economic boom or just modestly higher economic growth?.

RT @ericadyork: OBBBA will bring about higher economic growth and higher debt and deficits. Read @TaxFoundation's analysis below.

Details and analysis:

The One Big Beautiful Bill Act makes permanent one of the most pro-growth tax policies available: expensing for investment in short-lived assets and domestic research and development.

RT @TaxFoundation: Without congressional action, 62 percent of filers across the US would face a tax increase at the end of this year. htt….

RT @TaxFoundation: The Senate’s One Big Beautiful Bill would make permanent one of the most pro-growth tax policies available: expensing fo….

The dire condition and unsustainability of the US government’s finances is evident from the latest forecast indicating perpetually rising deficits and debt that reach unprecedented levels over the next few years.

Debt held by the public is projected to rise steadily from 99 percent of GDP this year to 106.3 percent in 2028, exceeding the high set at the end of World War II, and then escalate to 116 percent in 2034 and 166 percent in 2054.