Analysis of the Impact and Cost of the G.O.P. and Trump’s 'Big, Beautiful Bill'
Originally Published 6 months ago — by ADP
H.R. 1, enacted on July 4, 2025, introduces significant changes to tax rates, deductions, and employee benefits, including permanent tax rate adjustments, a temporary increase in the SALT deduction cap, new deductions for tips and overtime, and enhancements to childcare and paid leave credits, with some provisions retroactive to January 1, 2025.