H.R. 1, the One Big Beautiful Bill Act (OBBBA) permanently extended the tax cuts from the Tax Cuts and Jobs Act of 2017 (TCJA), which were set to expire by the end of 2025. The OBBBA also included both new and expanded tax deductions and credits designed to improve the lives of working American families. […]
Concerns over economic inequality and concentration of wealth, costly healthcare and education, lack of affordable housing, social injustice, along with a dislike of capitalism, have led to a resurgence of support for socialist policies. While there is no harm in intellectual curiosity, socialism will not improve affordability, because someone will still need to pay for […]
As Tax Day approaches, small businesses are benefitting from several provisions of H.R. 1, the Working Families Tax Cuts (WFTC) package, signed into law by President Donald Trump on July 4, 2025. The bill made permanent and increased from 20 percent to 23 percent the Qualified Business Income (QBI) deduction, which was supposed to expire […]
Taxpayers should be viewing the ongoing efforts to pass the “Big Beautiful Bill” also known as budget reconciliation with excitement as the committees wrap up their work on their sections of the bill. On May 13, 2025, the House Committee on Ways and Means finalized its section of the reconciliation bill, setting the country on […]
