The House of Representatives passed its Fiscal Year (FY) 2025 budget reconciliation bill, which now moves to the Senate for its consideration.

Raising the current $10,000 cap on the State and Local Tax (SALT) deduction would primarily benefit high earners. Further increasing the cap above the House reconciliation bill proposal – a $30,000 ...

Source: Congressional Budget Office and CRFB estimates. *Interactions and post-score adjustments reflect CRFB estimates of likely interactions between titles and the Rules Committee print released on ...

Yesterday, the Senate passed by unanimous consent the No Tax on Tips Act, a bill that would create a federal income tax deduction of up to $25,000 a year for cash tips for eligible employees in jobs ...

As lawmakers continue to negotiate new policies and adjustments to the House’s reconciliation bill, the “One Big Beautiful Bill Act,” the list of expected changes appear to be moving the bill in the ...

The next few years will include several predictable fiscal policy deadlines that will force congressional action. Many of the deadlines could bring additional costs if Congress acts irresponsibly, or ...

Updated 5/22/25: The House passed the reconciliation package, officially titled the "One Big Beautiful Bill Act," on May 22 by a vote of 215 to 214. The bill will now head to the Senate. On May 18 ...