Key Tax Provisions of the One Big Beautiful Bill Act
On Friday, July 4th, President Donald Trump signed into law the One Big Beautiful Bill Act, a major piece of tax legislation with wide-reaching implications for all taxpayers. This legislation extends several expiring provisions from the 2017 Tax Cuts and Jobs Act (TCJA), while introducing new measures aligned with the current administration’s tax priorities. In a statement, AICPA President and CEO Mark Koziel, described the bill as “a win for millions of businesses, taxpayers, and tax practitioners across the country,” emphasizing its potential to simplify tax planning and reduce uncertainty for clients.
To help you better understand the changes, the attached AICPA chart—Key Tax Provisions: Final Legislation with Comparison Across 2025 Reconciliation Bills—provides a side-by-side comparison of the current law, the original House bill, and the final version signed into law.
As more details emerge in the second half of 2025, we’ll continue to keep you informed about how these provisions may affect your specific tax situation. In the meantime, please don’t hesitate to reach out to your C&J team with any questions.
