- OBBBA Fact Sheet: 2025 Tax Year - bouchey. com
Child Tax Credit Permanent change - increased the child tax credit from $2,000 to $2,200 for each child under 17 Starting tax year 2025 and will be adjusted for inflation after 2025 Subject to income phase-out
- Big Beautiful Bill Explained: Tax Changes FAQ | Tax Foundation
Launch OBBBA Calculator On July 4, 2025, the One Big Beautiful Bill Act (OBBBA) was signed into law by President Trump, capping off the final step of the budget reconciliation process for the 2025 fiscal year While the tax law is expected to grow the US economy by making pro-growth policies like 100 percent bonus depreciation and research and development (R D) expensing permanent, it misses
- 2025 Tax Law Changes: OBBBA Explained | Tull Financial Group
On July 4, 2025, President Trump signed into law the One Big, Beautiful Bill Act (“OBBBA”) OBBBA includes the largest tax overhaul since the Tax Cuts and Jobs Act of 2017 (“TCJA”), and it will affect almost every individual and business in the United States The provisions in the new law go into effect on various dates, but most of the key ones affecting individuals apply to the
- Fact Sheet The One Big Beautiful Bill Act of 2025
The One Big Beautiful Bill Act of 2025 The One Big Beautiful Bill Act (OBBBA) of 2025 (H R 1), which Congress passed and sent to President Trump’s desk for signature on July 3, 2025, preserves the utility of the federal Section 45Q tax credit, including essential enhancements made to the tax credit in 2022 In addition, OBBBA includes modifications and restrictions to the credit that will
- How Does the OBBBA Impact Debt, Deficits, and Tax Revenue?
Key Points In January 2025, the Congressional Budget Office projected publicly held debt would reach a record high of 106 percent of GDP in 2029 and continue to climb to 117 percent by 2034 Tax Foundation modeling indicates the One Big Beautiful Bill Act (OBBBA) will boost economic growth but increase deficits, leading to record high debt in 2028 that rises to 124 percent of GDP by 2034
- Summary of the One Big Beautiful Bill Act and Its Tax Implications
Tax Changes for Individuals The OBBBA makes the TCJA’s individual tax rates permanent, adjusts deductions, and introduces temporary relief for specific groups Below is a summary of the major changes 1 Permanent Tax Rates and 2025 Brackets The TCJA’s tax rates (10%, 12%, 22%, 24%, 32%, 35%, 37%) are now permanent and indexed for inflation post-2025 An additional year of inflation
- How the 2025 OBBBA Rewrites the Rules for Individual Taxpayers
The “One Big Beautiful Bill Act” (OBBBA), signed into law on July 4, 2025, represents the most sweeping overhaul of the U S tax code since the 2017 Tax Cuts and Jobs Act It permanently extends many TCJA provisions and introduces several new deductions and credits Below is a summary of the key changes affecting individual taxpayers beginning in tax year 2025: Tax Rates Standard
- OBBBA Breakdown: What the new tax cuts mean for you
The Tax Cuts and Jobs Act’s (TCJA’s) lowered individual income tax rates for seven tax brackets were set to expire after 2025, reverting to the higher pre-TCJA levels OBBBA provisions make these seven income tax brackets permanent: 10%, 12%, 22%, 24%, 32%, 35% and 37% The bracket thresholds will continue to be adjusted annually for inflation
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