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Tax Law & IRS

Congress, the IRS, Treasury and the courts.

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CBO Scores OBBBA's Tax Cuts at $3.4 Trillion Added to Deficits

The Congressional Budget Office reported July 21, 2025 that the tax and spending law signed on July 4 will add $3.4 trillion to deficits through 2034, a number that matters for anyone planning around today's rates.

July 21, 2025 at 2:50 PM PDTCBO

Tax Law

Trump Signs Tax Law Locking In 37% Top Rate, $15 Million Estate Exemption, $40,000 SALT Cap

The One Big Beautiful Bill Act makes the 2017 rate structure permanent but adds new limits on itemized and charitable deductions that land squarely on top-bracket households.

July 4, 2025IRS