Depreciation allowance for qualified production property
Allow immediate deductibility of 100 percent of the cost of certain new factories and improvements
$148 bil.
Business interest deduction
Change calculation of adjusted taxable income
$40 bil.
Depreciation allowance for certain property
Allow immediate expensing of 100 percent of the cost of qualified property acquired from 2025 to 2030
$37 bil.
Expensing of certain depreciable business assets
Increase dollar limitations
$25 bil.
Deduction of domestic research and experimental expenditures
Allow immediate deductibility for expenditures paid or incurred from 2025 to 2030
$23 bil.
Charitable contributions to organizations with scholarships
Provide new tax credit for gifts to organizations that provide scholarships. For calendar years 2026-2029.
$20 bil.
“MAGA accounts”
Create new savings accounts for children, with a government contribution of $1,000 per child born from 2024 to 2028
The name was changed to “Trump accounts”
$17 bil.
Small manufacturing businesses
Change accounting rules
$15 bil.
Low-income housing credit
Modifies credit allocations and bond-financing thresholds, and gives a basis boost to Indian and rural areas
$14 bil.
Reporting threshold for payments
Increase thresholds for reporting payments to independent contractors and other payees
$13 bil.
Employer payments of student loans
Make the exclusion from gross income permanent and index for inflation
$11 bil.
Opportunity zones
Renew and make changes to the existing program
$5.5 bil.
Adoption tax credit
Make credit partially refundable and change rules for tribal governments
$2.3 bil.
Interactions between provisions
$1.8 bil.
Firearm silencers
Eliminate transfer tax
A last-minute change would deregulate silencers and eliminate a manufacturer tax on them.
$1.4 bil.
Loans secured by rural or agricultural real estate
Partially exclude interest on certain loans
$1.1 bil.
Certain income earned in the U.S. Virgin Islands
Exempt income for the purposes of a “GILTI” deduction
$0.9 bil.
Employer-provided child care credit
Permanently increase, add a new separate amount for small businesses, index for inflation
$0.7 bil.
Repeal excise tax on indoor tanning
This provision was removed from the bill.
$0.4 bil.
Sound recording productions
Increase ability to expense certain costs of producing sound recordings
$0.2 bil.
529 savings plans
Expand allowed expenses
$0.1 bil.
Disaster-related personal casualty losses
Extend rules
$0.1 bil.
Certain purchases of employee-owned stock
Disregard for purposes of foundation tax on excess business holdings
—
Exclusion of research income from unrelated business taxable income
Limit to publicly available research
—
I.R.S. Direct File program
Replace program with a public-private partnership to offer free tax filing
—
Increase penalties for unauthorized disclosures of taxpayer information
—
Postpone tax deadlines for those wrongfully detained abroad
—
Restrict regulation of contingency fees
—
Terminate tax-exempt status of certain organizations
Organizations that “provided more than a minor amount of material support or resources to a listed terrorist organization”
—
Wagering losses
Permanently extend limit
—
Qualified bicycle commuting reimbursement
Permanently eliminate the exclusion
–$0.2 bil.
American opportunity and lifetime learning credits
Require that students or taxpayers filing on behalf of students include their Social Security Numbers on tax returns
–$0.9 bil.
Sports franchises
Limit amortization deductions for certain sports-related intangibles
–$1.0 bil.
Increase penalties connected to Covid-related employee retention credits
–$1.6 bil.
Unrelated business taxable income of a tax-exempt organization
Increase by amount of certain fringe benefit expenses for which deduction is disallowed
–$2.7 bil.
Name and logo royalties
Treat as unrelated business taxable income
–$3.8 bil.
Tax on excess compensation within tax-exempt organizations
Expand application of tax
–$3.8 bil.
Mortgage, casualty loss and other itemized deductions
Permanently lower the home mortgage interest deduction to the first $750,000 in debt, limit the casualty loss deduction to losses resulting from federally declared disasters and terminate miscellaneous itemized deductions
–$6.2 bil.
Investment income of certain private colleges and universities
Increase excise tax for wealthier institutions
–$6.7 bil.
Excise tax for tobacco products
Limit drawback of taxes paid with respect to substituted merchandise
–$12 bil.
Moving expenses exclusion and deduction
Permanently eliminate both, except for active-duty military
–$14 bil.
Earned income tax credit
Make changes to prevent duplicate claims and create a program integrity task force
–$15 bil.
Compensation paid to certain high-earning employees
Change deduction limitation rules
–$16 bil.
Investment income of tax-exempt private foundations
Increase excise tax rates
–$16 bil.
Charitable contributions made by corporations
Establish a floor of one percent of taxable income on deduction
–$17 bil.
Excise tax on money sent abroad
Impose new excise tax on remittance transfers by those who are not U.S. citizens or U.S. nationals
–$22 bil.
Limitation on excess business losses by noncorporate taxpayers
Make permanent
–$27 bil.
De minimis entry privilege
Repeal the privilege, which currently allows shipments under $800 to enter the U.S. duty-free
–$39 bil.
New limitation on itemized deductions
Permanently change
–$41 bil.
Raise certain taxes to retaliate against “unfair foreign taxes”
–$116 bil.
State and local tax deduction
Permanently cap itemized deductions for state and local taxes at $30,000 per household. The current cap is set to expire next year, so any cap imposed would save the government money.
Late negotiations increased the SALT cap to $40,000. That change is not reflected in the savings shown here.
–$916 bil.
