The complete collection of AAF memos on the major provisions of the One Big Beautiful Bill.
Download / Print the Full Booklet (PDF)
ONE BIG BEAUTIFUL BOOKLET
60 KEY REFORMS IN THE ONE BIG BEAUTIFUL BILL
ADVANCING AMERICAN FREEDOM
APRIL 9, 2026
TABLE OF CONTENTS
- Executive Summary
- Debunking the Tax Cuts for the Rich Myth
- Taxes and Economic Growth
- Permanence Matters: Finishing What TCJA Started
- Reducing Spending Growth While Funding Defense, Homeland
- Frequently Asked Questions
- Core Individual Tax Structure
- Lower Individual Tax Rates
- Increased Standard Deduction
- Child Tax Credit Changes
- Alternative Minimum Tax Changes
- Individual Tax Deductions
- Mortgage Interest Deduction
- No Tax on Car Loan Interest
- No Tax on Overtime
- No Tax on Tips
- State and Local Tax (SALT) Deduction
- Senior Deduction
- Itemized Deduction Limitation
- Tax Savings Accounts
- More Flexible 529 Savings Accounts
- Health Savings Account (HSA) Expansion
- Trump Accounts
- Reforms for Businesses and Business Owners
- Business Interest Limitation Extension
- Business Loss Limitation Extension
- Increased Death Tax Exemption
- Expensing for Equipment and Machinery
- Expensing for Factories
- Expensing for Research and Development
- Expensing for Roofs and Building Systems
- Farmland Sale Capital Gains Treatment
- Small Business Pass-Through Deduction
- Small Business Stock Exclusion
- Fundamental Rights
- Defunding Planned Parenthood
- Zeroing Out Firearm & Suppressor Tax
- Unleashing Growth Through Auctions, Leases, and Deregulation
- CAFE Standards - Consumer Choice for Cars
- Faster Environmental Reviews
- Spectrum Auctions
- Timber Sales
- More Coal for Energy Affordability
- Unleashing America’s Offshore Energy
- Unleashing Onshore Energy
- Rolling Back the Green New Deal
- Rollback of Green Energy Subsidies
- Repeal of Electric Vehicle Subsidies
- Green Manufacturing Subsidy Rollback
- Repeal of Home Energy Subsidies
- Phaseout of the Hydrogen Subsidy
- Rescissions of Climate Funding
- Rollback of Wind and Solar Subsidies
- Waste, Abuse, and Federal Administration
- Provider Taxes & State Medicaid Abuse
- Reducing Waste, Fraud, and Abuse
- Relaxed IRS Reporting Rules
- Welfare Work Requirements
- Subsidies and Expanded Tax Credits
- Carbon Oxide Sequestration Subsidy
- Tax Credits for Child and Dependent Care
- Increased Tax Credit for CHIPS Investments
- Expansion of Clean Fuel Production Subsidy
- Low-Income Housing Tax Credit Changes
- Paid Family and Medical Leave Tax Credit
- Nonprofits and Education
- Charitable Contribution Changes
- Employer Educational Assistance
- Tax on Large College Endowments
- Tax on “Excessive” Employee Compensation
- Scholarship Tax Credit
- Immigration-Related Provisions
- Remittance Tax
- Stopping Benefits for Illegal Immigrants
- International and Place-Based
- Base Erosion Anti-abuse Tax (BEAT)
- FDII and NCTI (International Tax)
- Opportunity Zones
- Authors’ Contact Information and a Note on Hyperlinks
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