The Senate tax bill - as detailed a summary as you will find!

I cant read this either.......and I can't figure out how to delete this....but here is the unreadable summary..... sizing: inherit; font-size-adjust: inherit; font-size: 13px; font-stretch: inherit; font-style: text-size-adjust: 100%; vertical-align: baseline;">Foreign-derived intangible income and global intangible low-taxed income deductions
Permanently expand deductions
$14 bil.
Reporting threshold for payments
Increase thresholds for reporting payments to independent contractors and other payees
$13 bil.
Employer payments of student loans
Make the exclusion from gross income permanent and index for inflation
$11 bil.
Charitable contribution deduction
Permanently allow deduction up to $1,000 ($2,000 for married couples) for those who do not itemize, but require a minimum contribution based on income level
$11 bil.
Farmland sales
Allow capital gains taxes to be paid in installments
$7.3 bil.
New markets tax credit
Permanently extend credit to increase investment in low-income communities
$5.2 bil.
Adoption tax credit
Make credit partly refundable and change rules for tribal governments
$2.3 bil.
Change to accounting practice for certain residential construction contracts
$2.2 bil.
Loans secured by rural or agricultural real estate
Partly exclude interest income from certain loans
$2.0 bil.
Permanently increase rum “cover over”
The rebate that Puerto Rico and the U.S. Virgin Islands receive from federal taxes on rum production
$1.9 bil.
Eliminate firearms tax
Eliminate $200 transfer and manufacturing taxes on fireams, with the exception of machine guns or “destructive devices”
$1.7 bil.
Allow spaceports to issue tax-exempt bonds
$1.0 bil.
Expand use of 529 savings plans
$1.0 bil.
Employer-provided child care credit
Permanently increase; add a new separate amount for small businesses; index for inflation
$0.7 bil.
Sound recording productions
Increase ability to expense certain costs of producing sound recordings
$0.2 bil.
Casualty loss deduction
Permanently limit to losses resulting from federally declared disasters
$0.1 bil.
I.R.S. Direct File program
Replace program with a public-private partnership to offer free tax filing
—
Increase in deduction for certain Alaskan whaling captains
The provision, which was added to the bill to win the support of Senator Lisa Murkowski of Alaska, would allow a $50,000 deduction for whaling-related expenses, up from $10,000
—
Real estate investment trusts ADDED
Change rules for companies owned by trusts
This was a last-minute provision and does not have a cost or savings estimate yet.
Unknown
New tax exemption to fishers from villages in western Alaska
The provision was added to the bill to win the support of Senator Lisa Murkowski of Alaska
—
American opportunity and lifetime learning credits
Require that students or taxpayers filing on behalf of students include their Social Security Numbers on tax returns
–$0.6 bil.
Investment income of certain private colleges and universities
Increase tax for wealthier institutions
–$0.8 bil.
Third party litigation funding tax REMOVED
Increase taxes on court awards distributed to outside investors who finance lawsuits
The Senate parliamentarian determined that this provision does not comply with the chamber’s rules, and it was removed from the bill.
–$1.5 bil.
Increase penalties connected to Covid-related employee retention credits
–$1.6 bil.
Tax on excess compensation within tax-exempt organizations
Expand application of tax
–$3.8 bil.
Other international tax changes
–$4.0 bil.
Excise tax on money sent abroad
Impose new excise tax on remittance transfers, with exceptions for transfers funded with a debit or credit card issued in the U.S. or made through certain financial institutions
–$10.0 bil.
Treatment of payments from partnerships to partners for property or services
–$12 bil.
Compensation paid to certain high-earning employees
Change deduction limitation rules
–$16 bil.
Charitable contributions made by corporations
Establish a floor of one percent of taxable income on deduction
–$17 bil.
Expand business interest deduction
–$22 bil.
De minimis entry privilege
Repeal the privilege, which currently allows shipments under $800 to enter the U.S. duty-free
–$39 bil.

Medicaid

Cost or Savings

Home and community-based care
Allow states to apply for waivers to offer home care services to more people.
$6.6 bil.
Medicaid funding boost for Alaska and Hawaii REMOVED
Changes the formula to increase federal funding for Medicaid in Alaska and Hawaii.
The Senate parliamentarian determined that this provision does not comply with the chamber’s rules, and it was removed from the bill.
$6.0 bil.
Defund Planned Parenthood
Prevent Planned Parenthood or theoretical similar organizations from receiving Medicaid payments for one year
$0.1 bil.
Medicaid death checks
Require states to check a Social Security death file more often in canceling coverage
A last-minute change moved the implementation to 2027 from 2028.
—
Lower home equity limit
Eliminate Medicaid coverage for long-term care for people whose home is worth more than $1 million
–$0.2 bil.
Gender transition care REMOVED
Ban the use of Medicaid funds for gender affirming medical care for transgender minors and adults
The Senate parliamentarian determined that this provision does not comply with the chamber’s rules, and it was removed from the bill.
–$2.6 bil.
Demonstration projects
Require that Medicaid payment experiments be budget neutral
–$3.1 bil.
Limit retroactive coverage
Reduce how long Medicaid will pay beneficiary medical bills from before they sign up, from three months to one month
–$4.2 bil.
Limit immigrant Medicaid coverage
Limit eligibility after a 5-year waiting period to green card holders and certain other immigrants (current law includes all who are “lawfully present”)
–$6.2 bil.
Cut good faith payments
Reduce payments to states with errors and other improper Medicaid payments
–$7.2 bil.
New co-payments
Require states to charge some Medicaid patients co-payments of up to $35 for medical services
–$7.5 bil.
Reduce federal funding for certain states REMOVED
Require states that use their own funds to provide health insurance outside of Medicaid to undocumented immigrants to pay a higher share for Medicaid expansion beneficiaries
The Senate parliamentarian determined that this provision does not comply with the chamber’s rules, and it was removed from the bill.
–$11 bil.
End new expansion funding
Eliminate extra Medicaid financing for states that newly expand Medicaid
–$13 bil.
Eliminate duplicate Medicaid enrollment
Establish a system to make sure people aren’t enrolled in Medicaid or the Children’s Health Insurance Program in multiple states at once
–$17 bil.
Nursing home staffing
Cancel a regulation that required minimum staffing ratios for nursing homes
–$23 bil.
Reduce Medicaid emergency payments for immigrants
Lower the share of medical bills paid by the federal government for undocumented immigrants who are treated for emergencies
–$28 bil.
Medicaid managed care taxes
Prevent states from using taxes on managed care plans to increase federal funding
–$34 bil.
More eligibility checks
Require states to check eligibility of people in the Medicaid expansion every six months instead of once a year
–$58 bil.
Medicaid eligibility rule
Allow states to require more paperwork and more frequent eligibility checks for people in Medicaid
This provision was changed after the Senate parliamentarian advised that it did not comply with the rules. It is unclear how the changes will affect its savings.
–$78 bil.
Medicare premiums
Cancel a rule making it easier for low-income Medicare beneficiaries to sign up for help paying premiums
This provision was changed after the Senate parliamentarian advised that it did not comply with the rules. It is unclear how the changes will affect its savings.
–$85 bil.
Limit state-directed payments
Prevent expansion states from using special funding to pay Medicaid providers higher prices than Medicare would pay. Limit non-expansion states to slightly higher prices.
–$149 bil.
Provider taxes
Freeze current state taxes on most providers in states that have not expanded Medicaid and slowly lower the allowed rates in expansion states from 6% to 3.5%
–$183 bil.
Work requirements
Require childless adults and parents of children older than 14 to work, volunteer or attend school for 80 hours a month as a condition of enrollment, unless they qualify for an exception
–$317 bil.

Other health care

Cost or Savings

Interactions between provisions
$83 bil.
Rural health fund
Establish a $25 billion fund to help states support rural health care providers
The size of the fund was increased to $50 billion to help win the support of Republicans concerned about the effects of Medicaid cuts on rural hospitals.
$23 bil.
Orphan drugs
Exempt certain drugs from the Medicare drug negotiation program
$4.9 bil.
Telehealth services
Allow high-deductible health plans to provide telehealth services without cost sharing
$4.3 bil.
Health savings accounts
Expand eligibility for tax-free health savings accounts
$3.6 bil.
Health savings account uses
Allow tax-free health savings account money to be used for direct payments to primary care doctors outside of insurance
$2.8 bil.
Increase some Medicare doctor payments
Change a formula that determines doctors’ pay from Medicare for one year
$1.9 bil.
Medicare funding boost for Alaska and Hawaii REMOVED
Increase Medicare payment rates for certain medical services at hospitals in Alaska and Hawaii
The Senate parliamentarian determined that this provision does not comply with the chamber’s rules, and it was removed from the bill.
$0.7 bil.
Limit immigrant Medicare coverage
Limit eligibility to green card holders and certain other immigrants (current law includes all who are “lawfully present”)
–$5.0 bil.
Obamacare subsidy penalties
Require people who estimate their income incorrectly to refund the government for more tax credits
This provision was changed at the last minute to apply to people whose incomes are below the poverty line, making them responsible for paying back the full cost of their subsidies.
–$20 bil.
Premium tax credits during Medicaid waiting period
Eliminate certain exceptions for those in a Medicaid waiting period due to immigration status that allows them to receive premium tax credits
–$50 bil.
Premium tax credits for immigrants
Limit eligibility to green card holders and certain other immigrants (current law includes all who are “lawfully present”)
–$75 bil.
Obamacare subsidy verification
Require annual verification of income and other changes
–$82 bil.

Food benefits

Cost or Savings

Interactions between provisions
$9.0 bil.
SNAP eligibility for certain immigrants
Limit benefits to citizens or lawful permanent residents, with some exceptions
–$1.9 bil.
Repeal the National Education and Obesity Prevention Grant Program
–$5.5 bil.
SNAP utility allowances
Limit how energy assistance is used to set SNAP allotments
–$5.9 bil.
Internet expense restrictions
Forbid use of internet costs in setting SNAP allotments
–$11 bil.
SNAP administration cost sharing
Increase the share states pay to administer the program
–$25 bil.
Thrifty Food Plan
Limit increases to the plan used to set food benefit levels
–$37 bil.
SNAP state matching funds
Require states to pay a share of benefits currently funded in full by the federal government
This provision was amended in order to gain the support of Senator Lisa Murkowski of Alaska. It would now delay work requirements for states with high payment error rates (including Alaska).
–$40 bil.
SNAP work requirements
A wider range of aid recipients would be required to obtain work
–$69 bil.

Green energy and environment

Cost or Savings

Clean fuel production credit
Extend credit for biofuels an additional two years through 2029 and make changes
$26 bil.
Carbon oxide sequestration credit
Restrict access for foreign entities
$14 bil.
Partnership rules for companies involved in energy extraction and storage
Allow publicly traded companies substantially involved in hydrogen storage, carbon capture, advanced nuclear, hydropower and geothermal energy to be taxed as partnerships
$3.2 bil.
Methane emissions and waste reduction rescissions
Postpone for 10 years the implementation of a fee on methane leaks from oil and gas operations and rescind funding for other programs to reduce leaks
$1.4 bil.
Intangible drilling and development costs
Change the tax treatment for certain costs for corporations involved in energy drilling
$0.4 bil.
Refunds for dyed fuels
Allow refunds of federal fuel excise taxes paid on fuel that was indelibly dyed for off-road or agricultural purposes
—
Expedited environmental reviews
Allow project sponsors to expedite environmental reviews for a fee
—
Endangered Species Act recovery plans rescission
Rescind Inflation Reduction Act funds
—
Diesel emissions reductions rescission
Rescind Inflation Reduction Act funds
–$0.1 bil.
“Climate Change Action Plans” for state, local and tribal governments
Rescind Inflation Reduction Act funds
–$0.1 bil.
Carbon footprint labeling for construction materials rescission
Rescind Inflation Reduction Act funds
–$0.1 bil.
Air pollution rescission
Rescind Inflation Reduction Act funds, including for schools
–$0.1 bil.
Energy efficient commercial buildings deduction
Terminate a tax deduction for energy efficient HVAC, lighting systems, and other improvements for construction after June 30, 2026
–$0.1 bil.
Green and Resilient Retrofit Program rescission
Rescind Inflation Reduction Act funds for green housing program
–$0.1 bil.
Other Inflation Reduction Act rescissions
Related to greenhouse gases, environmental reviews, low-emissions electricity, data collection and hydrofluorocarbons
–$0.2 bil.
Declarations advertising the environmental impact of products rescission
Rescind Inflation Reduction Act funds
–$0.2 bil.
Sustainable aviation rescission
Rescind Inflation Reduction Act funds
–$0.2 bil.
Environmental and climate justice block grants
Rescind Inflation Reduction Act funds
–$0.3 bil.
Clean heavy-duty vehicles rescission
Rescind Inflation Reduction Act funds that help states and localities adopt zero-emission vehicles
–$0.4 bil.
Cost recovery for energy property and clean energy facilities
Eliminates special tax treatment for certain clean energy projects begun after December 31, 2024
–$0.4 bil.
Green federal buildings rescissions
Rescind Inflation Reduction Act funds
–$0.7 bil.
Low-carbon transportation material grants rescission
Rescind Inflation Reduction Act funds
–$1.3 bil.
Neighborhood Access and Equity Grant Program rescission
Rescind Inflation Reduction Act funds for a grant program to improve walkability, safety and affordable transportation
–$1.7 bil.
Alternative fuel vehicle refueling property credit
Terminate by June 30, 2026
–$2.0 bil.
Automaker fuel economy penalties
–$2.8 bil.
Energy efficient credit for new homes
Terminate a tax credit for the construction of new homes that meet energy star standards by June 30, 2026
–$5.4 bil.
Clean hydrogen production credit
Companies must begin construction by the end of 2027 to claim credits
–$5.9 bil.
Previously owned clean vehicle credit
Terminate a tax credit for clean energy used car purchases by Sept. 30, 2025
–$7.4 bil.
Energy efficient home improvement credit
Terminate a tax credit for energy audits and renovations to improve efficiency by Dec. 31, 2025
–$21 bil.
Clean electricity production credit
Phase down tax credits for low-emissions electricity sources like wind, solar, nuclear and geothermal power. New restrictions on the use of components from China.
Senators negotiated changes to the bill that would ease this move by allowing wind and solar projects to claim the credit as long as they either begin construction within a year of the law’s enactment or come online before the end of 2027. Nuclear, geothermal or battery projects would have more time. They also removed a controversial tax for projects that have ties to Chinese firms. It is unclear how the changes will affect the provision’s savings.
–$29 bil.
Advanced manufacturing production credit
Terminate credit for wind power components after 2027 and disqualify facilities that use certain components from China and other “foreign entities of concern.”
–$50 bil.
Residential clean energy credit
Terminate the tax credit for rooftop solar, geothermal heat pumps and other home devices by Dec. 31, 2025
–$77 bil.
Clean vehicle credit
Terminate the $7,500 consumer rebate for electric vehicles by Sept. 30, 2025
–$78 bil.
Qualified commercial clean vehicles credit
Terminate the credit for companies that buy electric cars or trucks, including businesses that lease the vehicles to consumers, by Sept. 30, 2025
–$105 bil.
Clean energy electricity investment credit
Phase down tax credits for investments in zero emissions electricty sources.
Senators negotiated changes to the bill that would ease this move by allowing wind and solar projects to claim the credit as long as they either begin construction within a year of the law’s enactment or come online before the end of 2027. Nuclear, geothermal or battery projects would have more time. It is unclear how the changes will affect the provision’s savings.
–$179 bil.

Student loans

Cost or Savings

Interactions between provisions
$42 bil.
Finance Pell Grant shortfall
Set aside funding to eliminate a shortfall
$11 bil.
Student loan servicing
Provide funding to set up new loan repayment systems
$1.0 bil.
Limit student loan deferment and forebearance
Loans issued after July 1, 2027, would have fewer options for deferment or cancellation
$0.3 bil.
Allow Pell Grants for shorter-term training
Allow grants for short-term professional training certificates and not just traditional higher education
$0.3 bil.
Loan rehabilitation
Allow borrowers two chances to rehabilitate loans after a default and increase the required monthly payment from $5 to $10
$0.1 bil.
Exempt farm and small business assets from aid calculation
—
Limit eligiblity for Pell Grants
Change the treatment of foreign income and a student aid index to limit who qualifies for Pell Grants; eliminate grants for students with full scholarships
–$0.2 bil.
Eliminate student loans for certain programs
Stop allowing loans for college programs whose graduates don’t earn more than local high school graduates or graduate degree holders who don’t earn more than college degree holders
–$0.8 bil.
Closed school discharge rule
Delay latest rule related to discharge of student loans if a school closes
–$5.2 bil.
Pause borrower defense rule
Eliminate a Biden-era proposal to cancel loans if schools misled students or engaged in deceptive recruiting
–$11 bil.
Department of Education authority REMOVED
Limit authority to issue regulations that would increase the cost of federal student loans
This provision was removed from the bill.
–$29 bil.
Student loan limits
Limit loans for graduate and professional students and parents; and eliminate graduate and professional PLUS loan program
–$44 bil.
Student loan repayment
Limit income-driven repayment options and allow payments made under a new program to count for people who currently use the public service loan forgiveness program
–$271 bil.

Defense

Cost or Savings

Fund shipbuilding
$28 bil.
Fund munitions and the defense industrial base
$24 bil.
Fund air and missile defense
$23 bil.
Fund military readiness
$15 bil.
Fund low-cost weapons
$15 bil.
Fund nuclear forces
$14 bil.
Fund U.S. Indo-Pacific Command
$12 bil.
Armed forces quality of life
Fund improvements to housing, health, care, education and child care
$8.3 bil.
Fund air superiority programs
$8.2 bil.
Fund border security
$1.0 bil.
Fund audits and cybersecurity
$0.4 bil.
Fund inspector general
—

Homeland security and immigration

Cost or Savings

Immigration detention capacity
Expand capacity to detain immigrants taken into custody
$45 bil.
Border wall
Fund border barrier system construction and related activities
$45 bil.
U.S. Immigration and Customs Enforcement
Funding for hiring, training, transportation, facilities and legal resources to carry out immigration enforcement and removals
$31 bil.
State and local grants
Funding for border security, immigration enforcement and major event security
$13 bil.
Homeland Security Department funding
For border security and immigration enforcement
$12 bil.
U.S. Customs and Border Protection
Funding to expand workforce and purchase new vehicles and technology
$12 bil.
Border surveillance technology
$6.2 bil.
Department of Justice grants
For state and local immigration and law enforcement
$3.5 bil.
Department of Justice funding
For immigration and other law enforcement
$3.3 bil.
Fund vetting for sponsors of unaccompanied alien children
Through the Office of Refugee Resettlement
$0.3 bil.
Presidential residence protection
Fund reimbursements to local law enforcement for protecting the president’s private residences
$0.3 bil.
Special Immigrant Juvenile fee
A new minimum $250 fee to apply for this visa for noncitizens under 21 who are living in the United States and have been abused, abandoned or neglected by a parent
—
Temporary Protected Status fee increase
Increase in application fee to $500 from $50. This status is made available to nationals from certain countries undergoing an armed conflict or disaster.
—
Apprehension fee
A new minimum $5,000 fee for any inadmissible noncitizen who is apprehended between ports of entry
—
Immigration parole fee
A new minimum $1,000 fee for immigrants granted temporary entry on the grounds of “humanitarian or significant public interest”
—
Fee for certain nonimmigrants from China
A new $30 Electronic Visa Update System fee for certain Chinese nationals who must maintain biographic and travel information in an online system
—
Fee for those arrested after being ordered removed for missing a hearing
A new minimum $5,000 fee
–$0.1 bil.
Fees related to adjustment of immigration status
Additional fees, from $500 to $1,500, for adjustment of status granted by a judge or to file appeals
–$0.5 bil.
Asylum fee
A new $100 minimum fee for anyone who applies for asylum, and an additional $100 per year while an application remains pending
–$1.2 bil.
Work permit fee
A new $550 minimum fee to submit an employment authorization application. Would apply to asylum applicants, those on parole and those granted Temporary Protected Status. An additional $275 fee would be imposed to renew or extend an authorization.
–$2.4 bil.
Electronic travel authorization fee
Increase in the fee paid by nationals of countries who are not required to have a visa to visit the U.S., to $40 from $21
–$3.1 bil.
Nonimmigrant visitor fee increase
Increase in fee to $30 from $6. This fee is paid when applying for Form I-94, which serves as an arrival and departure record for certain temporary visitors
–$9.5 bil.
Fee for nonimmigrant visas
New miniumum $250 fee imposed when a nonimmigrant visa, like for students and certain workers, is issued
–$27 bil.

Natural resources

Cost or Savings

Surface water storage and water conveyance facilities
Fund construction to increase capacity of facilities
$1.0 bil.
Strategic Petroleum Reserve
Fund maintenance and petroleum product acquisition
$0.9 bil.
Fund Department of Energy loans
For energy projects
$0.8 bil.
Fund new A.I. partnership program
At the Department of Energy
$0.2 bil.
Repeal extracted methane royalties
—
Wind and solar projects on federal land
Adjust rents and fees
–$0.1 bil.
Coal leasing
Rescind moratorium on new coal leasing, mandate new lease sales and reduce royalties
–$0.3 bil.
National Park Service and Bureau of Land Management rescissions
Rescind Inflation Reduction Act funds
–$0.3 bil.
Timber harvesting
Require the Forest Service and Bureau of Land Management to sell a certain quantity of timber or enter into long-term contracts
–$0.4 bil.
Oil and gas leasing in Alaska
Require new lease sales in the Arctic National Wildlife Refuge and National Petroleum Reserve-Alaska (NPR-A) and split revenue with the state
–$0.7 bil.
Mandatory offshore oil and gas lease sales
–$4.2 bil.
Public land sales REMOVED
Mandatory sales of Bureau of Land Management land to allow for more housing
After opposition from some Republicans from Western states, this provision was removed from the bill.
–$6.0 bil.
Energy rescissions
Rescind Inflation Reduction Act funds for home, facility, transmission and other energy programs
–$7.1 bil.
Onshore oil and gas lease sales
Require the Bureau of Land Management to hold quarterly lease sales
–$11 bil.

Other

Cost or Savings

Changes to agricultural commodities programs
$53 bil.
Coast Guard funding
For vessels, infrastructure, aircraft and other activities
$23 bil.
Air traffic control funding
For facilities and equipment
$12 bil.
Fund space programs
$10.0 bil.
Claims related to radiation exposure
Changes to eligibility for compensation to those exposed to uranium mines and other nuclear material
$7.7 bil.
Changes to crop insurance programs
$6.0 bil.
Bureau of Prisons funding
For hiring, training and facilities
$4.8 bil.
Agricultural trade promotion, research and other funding
$4.0 bil.
Funding for agricultural disaster assistance
$2.8 bil.
United States Secret Service funding
For personnel, training and technology
$1.2 bil.
Defense Production Act funding
$0.9 bil.
Fund state A.I. systems REMOVED
States that receive the funding would be required to pause enforcement of their laws regulating artificial intelligence
Senators passed an amendment to remove this provision from the bill.
$0.5 bil.
John F. Kennedy Center for the Performing Arts funding
For repairs, maintenance and security
$0.3 bil.
America’s 250th Anniversary
Fund commemoration
$0.2 bil.
Office of Management and Budget funding
$0.1 bil.
Pandemic Response Accountability Committee funding
Additional funding to continue pandemic spending oversight and expand to cover spending in this bill
$0.1 bil.
“National Garden of American Heroes” funding
—
Unemployment payments for millionaires ADDED
Do not allow federal funds to be used for unemployment compensation benefits for those earning $1,000,000 or more
This was a last-minute provision and does not have a cost or savings estimate yet.
—
Judicial funding
For the Administrative Office of the United States Courts and Federal Judicial Center
—
Fees for space launch licenses and permits
—
Charge more for Washington, D.C., airport leases
–$0.1 bil.
Forest program rescission
Rescind funds for certain forest and tree-planting programs
–$0.2 bil.
Reduce funding for promoting travel to the U.S.
–$0.2 bil.
NOAA rescission
Rescind Inflation Reduction Act funds for the National Oceanic and Atmospheric Administration
–$0.2 bil.
Eliminate Securities and Exchange Commission technology fund
–$0.5 bil.
Advanced communications research rescission
Rescind balances of the Public Wireless Supply Chain Innovation Fund
–$0.8 bil.
Health benefit eligibility verification
For dependents of federal workers in the Federal Employees Health Benefits Program
–$2.0 bil.
Bureau of Consumer Financial Protection
Reduce the amount the bureau may receive from the Federal Reserve to cover operating expenses
–$2.0 bil.
Electromagnetic spectrum auction
Require the government to identify and auction spectrum by 2034
–$85 bil.