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07 July 2025

Side-by-side comparison of tax provisions in different versions of reconciliation bill

Attached is a preliminary summary of select tax provisions of H.R. 1, which was passed by the Senate on July 1 and the House on July 3 (and signed into law on July 4), as compared to the Finance Committee's June 16 proposed text and the House-passed from May 22.

Select revenue estimates are provided (from Joint Committee on Taxation estimates JCX-26-25R, JCX-29-25, JCX-34-25, JCX-35-25). Senate estimates are relative to a current policy baseline, while estimates of the initial House-passed bill are relative to the current law baseline. Where only one figure is listed, current policy and current law are the same.

This summary will be updated as additional materials become available.

Attachment

Summary of Select Tax Reconciliation Bill Provisions

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Published by NTD’s Tax Technical Knowledge Services group; Maureen Sanelli, legal editor

Document ID: 2025-1391

 

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