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A Complete List of Everything in the Republican Bill, and How Much It Would Cost or Save

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A Complete List of Everything in the Republican Bill, and How Much It Would Cost or Save

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

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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

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$37 bil.

Expensing of certain depreciable business assets

Increase dollar limitations

$25 bil.

Deduction of domestic research and experimental expenditures

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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”

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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”

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$17 bil.

Small manufacturing businesses

Change accounting rules

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$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

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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

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Renew and make changes to the existing program

$5.5 bil.

Adoption tax credit

Make credit partially refundable and change rules for tribal governments

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$2.3 bil.

Interactions between provisions

$1.8 bil.

Firearm silencers

Eliminate transfer tax

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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

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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

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$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

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This provision was removed from the bill.

$0.4 bil.

Sound recording productions

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Increase ability to expense certain costs of producing sound recordings

$0.2 bil.

529 savings plans

Expand allowed expenses

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$0.1 bil.

Disaster-related personal casualty losses

Extend rules

$0.1 bil.

Certain purchases of employee-owned stock

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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

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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

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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

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Permanently extend limit

Qualified bicycle commuting reimbursement

Permanently eliminate the exclusion

–$0.2 bil.

American opportunity and lifetime learning credits

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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

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–$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

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Treat as unrelated business taxable income

–$3.8 bil.

Tax on excess compensation within tax-exempt organizations

Expand application of tax

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–$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

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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

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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

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–$15 bil.

Compensation paid to certain high-earning employees

Change deduction limitation rules

–$16 bil.

Investment income of tax-exempt private foundations

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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 on money sent abroad

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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

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–$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

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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.

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Late negotiations increased the SALT cap to $40,000. That change is not reflected in the savings shown here.

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–$916 bil.

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USCIS halts ‘all asylum decisions’ after DC shooting of National Guard members

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USCIS halts ‘all asylum decisions’ after DC shooting of National Guard members

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The U.S. Citizenship and Immigration Services (USCIS) announced on Friday that it has halted all asylum decisions following the shooting in Washington, D.C., in which an Afghan national was accused of shooting two National Guard members, including one who died from her injuries.

USCIS Director Joseph B. Edlow said the asylum decisions would be suspended “until we can ensure that every alien is vetted and screened to the maximum degree possible.”

“The safety of the American people always comes first,” he wrote on X.

The pause comes amid a broader immigration crackdown signaled by President Donald Trump, who on Thursday vowed to halt migration from “Third World countries” and reverse Biden-era admissions.

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STATE DEPARTMENT ‘IMMEDIATELY’ HALTS ALL AFGHAN PASSPORT VISAS FOLLOWING DEADLY NATIONAL GUARD ATTACK

National Guard members Sarah Beckstrom, 20, and Andrew Wolfe, 24, were shot in Washington, D.C., on Wednesday. (United States Attorney’s Office for the District of Columbia/Chip Somodevilla/Getty Images)

Edlow said on Thursday that officials would reexamine green cards issued to immigrants from every “country of concern,” including Afghanistan. USCIS also implemented new national security measures to be considered while vetting immigrants from “high risk” countries.

“I have directed a full scale, rigorous reexamination of every Green Card for every alien from every country of concern,” he wrote.

ATF and Secret Service officers are seen after two National Guard soldiers were shot near the White House in Washington, D.C., Wednesday, Nov. 26, 2025.  (Evan Vucci/AP)

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The Department of Homeland Security also said it had already halted all immigration requests from Afghanistan and was in the process of reviewing all asylum cases approved under the Biden administration.

Additionally, the Department of State has paused all visas for people traveling on Afghan passports in response to the attack against the National Guard members.

“The Department of State has IMMEDIATELY paused visa issuance for individuals traveling on Afghan passports,” the agency wrote. “The Department is taking all necessary steps to protect U.S. national security and public safety.”

National Guard member Sarah Beckstrom, 20, of West Virginia, died after the shooting on Wednesday in the nation’s capital, while the second service member wounded in the attack, Andrew Wolfe, 24, is still in critical condition.

The alleged gunman, Rahmanullah Lakanwal, 29, faces multiple charges, including one count of first-degree murder and two counts of assault with intent to kill while armed. Attorney General Pam Bondi said that the Justice Department would pursue the death penalty against the suspect.

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WHO IS THE DC NATIONAL GUARDSMEN SHOOTING SUSPECT? WHAT TO KNOW ABOUT AFGHAN NATIONAL RAHMANULLAH LAKANWAL

Undated file photo of Rahmanullah Lakanwal, the suspect in the shooting of two National Guard soldiers in Washington, D.C., November 26, 2025. (Provided by Department of Justice)

Lakanwal entered the U.S. legally in 2021 under humanitarian parole as part of the Biden administration’s Operation Allies Welcome, following the U.S. withdrawal from Afghanistan.

He was vetted by the CIA in Afghanistan for his work with the agency and again for his asylum application in the U.S. A senior U.S. official told Fox News he was “clean on all checks” in his background check.

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Lakanwal had his asylum application approved by the Trump administration earlier this year.

A report released by the Department of Justice Office of the Inspector General in June found there were “no systemic failures” in Afghan refugee vetting or subsequent immigration pathways.

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Commentary: California’s first partner pushes to regulate AI while Trump and tech bros thunder forward

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Commentary: California’s first partner pushes to regulate AI while Trump and tech bros thunder forward

California First Partner Jennifer Siebel Newsom recently convened a meeting that might rank among the top sweat-inducing nightmare scenarios for Silicon Valley’s tech bros — a group of the Golden State’s smartest, most powerful women brainstorming ways to regulate artificial intelligence.

Regulation is the last thing this particular California-dominated industry wants, and it’s spent a lot of cash at both the state and federal capitols to avoid it — including funding President Trump’s new ballroom. Regulation by a bunch of ladies, many mothers, with profit a distant second to our kids when it comes to concerns?

I’ll let you figure out how popular that is likely be with the Elon Musks, Peter Thiels and Mark Zuckerbergs of the world.

But as Siebel Newsom said, “If a platform reaches a child, it carries a responsibility to protect that child. Period. Our children’s safety can never be second to the bottom line.”

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Agreed.

Siebel Newsom’s push for California to do more to regulate AI comes at the same time that Trump is threatening to stop states from overseeing the technology — and is ramping up a national effort that will open America’s coffers to AI moguls for decades to come.

Right now, the U.S. is facing its own nightmare scenario: the most powerful and world-changing technology we have seen in our lifetimes being developed and unleashed under almost no rules or restraints other than those chosen by the men who seek personal benefit from the outcome.

To put it simply, the plan right now seems to be that these tech barons will change the world as they see fit to make money for themselves, and we as taxpayers will pay them to do it.

“When decisions are mainly driven by power and profit instead of care and responsibility, we completely lose our way, and given the current alignment between tech titans and the federal administration, I believe we have lost our way,” Siebel Newsom said.

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To recap what the way has been so far, Trump recently tried to sneak a 10-year ban on the ability of states to oversee the industry into his ridiculously named “Big Beautiful Bill,” but it was pulled out by a bipartisan group in the Senate — an early indicator of how inflammatory this issue is.

Faced with that unexpected blockade, Trump has threatened to sign a mysterious executive order crippling states’ ability to regulate AI and attempting to withhold funds from those that try.

Simultaneously, the most craven and cowardly among Republican congresspeople have suggested adding a 10-year ban to the upcoming defense policy bill that will almost certainly pass. Of course, Congress has also declined to move forward on any meaningful federal regulations itself, while technology CEOs including Trump frenemy Musk, Apple’s Tim Cook, Meta’s Zuckerberg and many others chum it up at fancy events inside the White House.

Which may be why this week, Trump announced the “Genesis Mission,” an executive order that seemingly will take the unimaginable vastness of government research efforts across disciplines and dump them into some kind of AI model that will “revolutionize the way scientific research is conducted.”

While I am sure that nothing could possibly go wrong in that scenario, that’s not actually the part that is immediately alarming. This is: The project will be overseen by Trump science and technology policy advisor Michael Kratsios, who holds no science or engineering degrees but was formerly a top executive for Thiel and former head of another AI company that works on warfare-related projects with the Pentagon.

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Kratsios is considered one of the main reasons Trump has embraced the tech bros with such adoration in his second term. Genesis will almost certainly mean huge government contracts for these private-sector “partners,” fueling the AI boom (or bubble) with taxpayer dollars.

Siebel Newsom’s message in the face of all this is that we are not helpless — and California, as the home of many of these companies and the world’s fourth-largest economy in its own right, should have a say in how this technology advances, and make sure it does so in a way that benefits and protects us all.

“California is uniquely positioned to lead the effort in showing innovation and responsibility and how they can go hand in hand,” she said. “I’ve always believed that stronger guardrails are actually good for business over the long term. Safer tech means better outcomes for consumers and greater consumer trust and loyalty.”

But the pressure to cave under the might of these companies is intense, as Siebel Newsom’s husband knows.

Gov. Gavin Newsom has spent the last few years trying to thread the needle on state legislation that offers some sort of oversight while allowing for the innovation that rightly keeps California and the United States competitive on the global front. The tech industry has spent millions in lobbying, legal fights and pressure campaigns to water down even the most benign of efforts, even threatening to leave the state if rules are enacted.

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Last year, the industry unsuccessfully tried to stop Senate Bill 53, landmark legislation signed by Newsom. It’s a basic transparency measure on “frontier” AI models that requires companies to have safety and security protocols and report known “catastrophic” risks, such as when these models show tendencies toward behavior that could kill more than 50 people — which they have, believe it or not.

But the industry was able to stop other efforts. Newsom vetoed both Senate Bill 7, which would have required employers to notify workers when using AI in hiring and promotions; and Assembly Bill 1064, which would have barred companion chatbot operators from making these AI systems available to minors if they couldn’t prove they wouldn’t do things like encourage kids to self-harm, which again, these chatbots have done.

Still, California (along with New York and a few other states) has pushed forward, and speaking at Siebel Newsom’s event, the governor said that last session, “we took a number of at-bats at this and we made tremendous progress.”

He promised more.

“We have agency. We can shape the future,” he said. “We have a unique responsibility as it relates to these tools of technology, because, well, this is the center of that universe.”

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If Newsom does keep pushing forward, it will be in no small part because of Siebel Newsom, and women like her, who keep the counter-pressure on.

In fact, it was another powerful mom, First Lady Melania Trump, who forced the federal government into a tiny bit of action this year when she championed the “Take It Down Act”, which requires tech companies to quickly remove nonconsensual explicit images. I sincerely doubt her husband would have signed that particular bill without her urging.

So, if we are lucky, the efforts of women like Siebel Newsom may turn out to be the bit of powerful sanity needed to put a check on the world-domination fantasies of the broligarchy.

Because tech bros are not yet all-powerful, despite their best efforts, and certainly not yet immune to the power of moms.

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‘Squad’ member mourns ’empty’ Thanksgiving seats due to ‘loved ones abducted & deported,’ ‘mass incarceration’

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‘Squad’ member mourns ’empty’ Thanksgiving seats due to ‘loved ones abducted & deported,’ ‘mass incarceration’

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As Americans around the nation celebrated Thanksgiving on Thursday, progressive Democratic Rep. Ayanna Pressley of Massachusetts — a member of the left-wing cadre of House lawmakers known as the “Squad” — indicated that there were vacant seats at some tables due to people being “abducted & deported.” 

“This Thanksgiving, I’m thinking of our neighbors with an empty seat at the dinner table. Those with loved ones abducted & deported from their families. Those we lost due to gun violence, mass incarceration, & more. A more just America is possible, if we fight for it,” Pressley said in the post.

President Donald Trump’s administration has been cracking down on illegal immigration.

DEM REP CONDEMNS TRUMP ADMIN FOR BEING ‘CRUEL ENOUGH’ TO ISSUE WORK REQUIREMENTS FOR FOOD STAMPS

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Rep. Ayanna Pressley, D-Mass., listens during a news conference near the U.S. Capitol Building on Sept. 25, 2025 in Washington, D.C. (Anna Moneymaker/Getty Images)

Democratic Rep. Summer Lee of Pennsylvania, another squad member, said that Thanksgiving reminds some people of “stolen land and broken treaties.”

“Thanksgiving is a time of gratitude and community for many, but it’s also a reminder of stolen land and broken treaties for others. As we give thanks today, let’s also honor Indigenous communities by committing to the fight for sovereignty, justice, and freedom,” Lee declared in a post on Thursday.

SQUAD 2.0: MEET AMERICA’S NEXT WAVE OF RADICAL DEMOCRATS SHAPING THE PARTY’S FUTURE

Ranking Member Rep. Summer Lee, D-Pa., looks on as DHS Inspector General Joseph Cuffari testifies before the House Committee on Oversight and Government Reform Subcommittee on Federal Law Enforcement in the Rayburn House Office Building on July 23, 2025, in Washington, D.C. (Kevin Dietsch/Getty Images)

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In a post last month, Pressley indicated that Americans are living “on stolen land.”

“Happy Indigenous People’s Day! We are all on stolen land,” Pressley declared in the post. 

‘SQUAD’ DEM LAUNCHES COMEBACK HOUSE BID AFTER ANTI-ISRAEL VIEWS TORPEDOED CAMPAIGN: ‘WE NEED A FIGHTER’

Ayanna Pressley speaks during the SXSW Conference & Festivals held at the Austin Convention Center on March 9, 2025, in Austin, Texas (Amy E. Price/SXSW Conference & Festivals via Getty Images)

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“And while Republicans try to whitewash American history, we acknowledge our country’s role in inflicting trauma on our Indigenous neighbors. We’ll keep celebrating their contributions, centering Native voices in our policymaking, & building a more just, equitable future,” she added. 

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