The tax provisions of the budget bill being debated on the Senate floor would be even more regressive than the version drafted by the Senate Finance Committee, according to a new Tax Policy Center analysis. On average, the Senate measure released on June 28 would cut 2026 taxes by about $2,900, up about $250 from the Finance Committee’s version. But the current Senate version of the One Big Beautiful Bill Act would distribute most of those additional tax cuts to the highest-income households. The main reason: the way it treats the state and local tax deduction.
Comparing The Plans
The Senate bill would cut taxes by an average of $12,500, or…
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