Crapo Highlights Tax Wins for Hardworking Americans and Main Street

Washington, D.C.—U.S. Senate Finance Committee Chairman Mike Crapo (R-Idaho) today released an updated revenueestimatefrom the Joint Committee on Taxation’s (JCT) of the Finance Committee’s tax title, which demonstrates significant tax relief for working families and small businesses.
“If the Trump tax cuts expire, taxpayers in all income groups would face massive tax hikes and the majority of the burden—$2.6 trillion—would fall on taxpayers making less than $400,000 per year,” Crapo said.  “This legislation prevents that outcome and delivers more than$600 billionof new tax relief specifically targeted to benefit low and middle-income families and workers.”
Despite critics’ rhetoric about tax cuts for “billionaires and corporations,” the reality is this legislation prevents massive tax hikes across-the-board and overwhelmingly benefits middle-class households and job creators.
The Joint Committee on Taxation says the One Big Beautiful Bill provides:
The legislation provides significant tax relief to hardworking families:
For small businesses that spur investment and economic activity, the bill:
ClickHEREfor tax wins.
ClickHEREto view text of the Finance reconciliation bill.
ClickHEREfor a section-by-section.
ClickHEREfor a bill overview.
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