#OneBigBeautifulBill Both the House bill and the Senate bill introduce some tax cuts and smart revenue increases. The Senate bill makes permanent the provisions of the House bill that allow for the expensing of investments in short-term assets and domestic research and development. Permanent expensing offers the greatest return in terms of economic growth. In the context of the complete Senate bill, both provisions boost long-term GDP by 0.7% by providing taxpayers with the certainty needed to drive long-term investment. The Senate maintains the temporary expensing of the House bill for qualified structures, a good addition that should be made permanent for long-term economic growth.
But... The bills spend too much money on political gimmicks and exceptions. Both introduce tax exemptions for overtime pay and tips, a deduction for car loan interest, and an additional standard deduction available for some seniors, all of which violate basic tax principles of equal treatment for taxpayers.
$BTC