Executive Summary 

• On July 4, President Trump signed H.R. 1 (commonly known as the One Big Beautiful Bill), the crux of his domestic policy agenda, into law, which makes permanent the 2017 tax cuts; includes his campaign promises to eliminate taxes on tips and overtime pay; boosts funding for border security; and makes significant reforms to Medicaid, among other reforms.
• The Congressional Budget Office’s (CBO) score of the enacted legislation estimates that it will increase primary (non-interest) budget deficits by $3.4 trillion over the fiscal year 2025–2034 budget window.
• CBO’s score of the legislation is a conventional estimate, meaning it does not include the economic effects of the legislation; a dynamic estimate of the legislation would yield different results.

Introduction

On July 4, President Trump signed H.R. 1, commonly known as the One Big Beautiful Bill, into law. The legislation is the crux of the president’s domestic policy agenda. It makes permanent the 2017 tax cuts; includes President Trump’s campaign promises to eliminate taxes on tips and overtime pay; boosts funding for border security; and makes significant reforms to Medicaid, among other reforms. The Congressional Budget Office’s (CBO) score of the enacted legislation estimates that it will increase primary (non-interest) budget deficits by $3.4 trillion over the fiscal year (FY) 2025–2034 budget window. Notably, CBO’s score of the legislation is a conventional estimate, meaning it does not include the economic effects of the One Big Beautiful Bill. A dynamic estimate of the legislation would yield different results.

Below is a committee-by-committee breakdown of the CBO score of the One Big Beautiful Bill.

Summary of Provisions in the One Big Beautiful Bill

Committee	Reconciliation Instruction	Reconciliation Measures
Agriculture, Nutrition, and Forestry Committee	-$1.0 billion	-$121.0 billion
Armed Services Committee	$150.0 billion	$149.5 billion
Banking, Housing, and Urban Affairs Committee	-$1.0 billion	-$1.7 billion
Commerce, Science, and Transportation Committee	$20.0 billion	-$44.0 billion
Energy and Natural Resources Committee	-$1.0 billion	-$21.3 billion
Environment and Public Works Committee	$1.0 billion	-$3.5 billion
Finance Committee	$1.5 trillion	$3.6 trillion
Health, Education, Labor, and Pensions Committee	-$1.0 billion	-$284.0 billion
Homeland Security and Government Affairs Committee	$175.0 billion	$128.9 billion
Judiciary Committee	$175.0 billion	$8.9 billion
Interactions	n/a	$3.0 billion
Total	$2.0 trillion	$3.4 trillion
Gross Costs	$2.0 trillion	$1.1 trillion
Gross Savings	-$4.0 billion	-$4.5 trillion

Sources: CBO and Senate Budget Committee. Numbers may not sum due to rounding.

Agriculture, Nutrition, and Forestry Committee. The FY 2025 budget resolution instructed the Senate Agriculture, Nutrition, and Forestry Committee to construct reconciliation measures to reduce budget deficits by at least $1 billion through FY 2034. CBO estimates that the committee-drafted measures in the One Big Beautiful Bill will save $121.0 billion over the FY 2025–2034 budget window.

Agriculture, Nutrition, and Forestry Provisions in the One Big Beautiful Bill

Provision	FY 2025–2034 Cost/Savings (-)
Increase the age limit for SNAP work requirements from 54 to 64, require parents or guardians of children over age 14 to work, and place limits on work requirement waivers	-$68.6 billion
Establish Supplemental Nutrition Assistance Program (SNAP) matching funds requirement for states beginning in FY 2028	-$40.8 billion
Prohibit SNAP benefit increases beyond inflation	-$37.3 billion
Reduce federal share of costs for administering SNAP from 50 to 25 percent	-$24.7 billion
Exclude household internet expenses from SNAP benefit calculations	-$11.0 billion
Other SNAP changes	-$13.3 billion
Funding for major working lands conservation programs	-$1.8 billion
Increase farm subsidies and other agricultural safety net programs	$61.8 billion
Funding for agricultural trade promotion and facilitation, research, energy, horticulture, and other matters	$5.7 billion
Interactions among provisions	$9.0 billion
Subtotal, Agriculture, Nutrition, and Forestry Committee	-$121.0 billion

Sources: CBO and author’s calculations. Numbers may not sum due to rounding.

Armed Services Committee. The FY 2025 budget resolution instructed the Senate Armed Services Committee to construct reconciliation measures to increase budget deficits by a maximum amount of $150 billion through FY 2034. CBO estimates that the committee-drafted measures in the One Big Beautiful Bill will cost $149.5 billion over the FY 2025–2034 budget window.

Armed Services Committee Provisions in the One Big Beautiful Bill

Provision	FY 2025–2034 Cost/Savings (-)
Funding for shipbuilding	$27.6 billion
Funding for munitions and industrial base	$23.8 billion
Funding for air and missile defense	$23.2 billion
Funding for low-cost weapons, audits, and cybersecurity	$15.8 billion
Funding for military readiness	$15.5 billion
Funding for nuclear forces	$14.2 billion
Funding for Indo-Pacific Command	$12.1 billion
Funding to improve the quality of life for military personnel	$8.3 billion
Funding for air superiority	$8.2 billion
Funding for border security	$1.0 billion
Subtotal, Armed Services Committee	$149.5 billion

Sources: CBO and author’s calculations. Numbers may not sum due to rounding.

Banking, Housing, and Urban Affairs Committee. The FY 2025 budget resolution instructed the Senate Banking, Housing, and Urban Affairs Committee to construct reconciliation measures to reduce budget deficits by at least $1 billion through FY 2034. CBO estimates that the committee-drafted measures in the One Big Beautiful Bill will save $1.7 billion over the FY 2025–2034 budget window.

Banking, Housing, and Urban Affairs Committee Provisions in the One Big Beautiful Bill

Provision	FY 2025–2034 Cost/Savings (-)
Reform Consumer Financial Protection Bureau funding mechanism	-$2.0 billion
Sweep unused funds from the Securities and Exchange Commission’s Reserve fund and prohibit future use of the fund	-$0.4 billion
Rescind funding from the Green and Resilient Retrofit program	-$0.1 billion
Funding for Defense Production Act fund	$0.9 billion
Subtotal, Banking, Housing, and Urban Affairs Committee	-$1.7 billion

Sources: CBO and author’s calculations. Numbers may not sum due to rounding.

Commerce, Science, and Transportation Committee. The FY 2025 budget resolution instructed the Senate Commerce, Science, and Transportation Committee to construct reconciliation measures to increase budget deficits by a maximum amount of $20 billion through FY 2034. CBO estimates that the committee-drafted measures in the One Big Beautiful Bill will save $44.0 billion over the FY 2025–2034 budget window.

Commerce, Science, and Transportation Committee Provisions in the One Big Beautiful Bill

Provision	FY 2025–2034 Cost/Savings (-)
Hold spectrum auctions	-$85.0 billion
Lower the National Highway Traffic Safety Administration’s Corporate Average Fuel Economy civil monetary penalties against automakers to zero	-$2.8 billion
Rescind certain funds for the National Oceanic and Atmospheric Administration and the Public Wireless Supply Chain Innovation Fund	-$1.0 billion
Funding for the U.S. Coast Guard	$23.1 billion
Funding for Air Traffic Control improvements	$12.0 billion
Funding for Mars missions, Artemis missions, and the Moon to Mars program	$10.0 billion
Other provisions	-$0.4 billion
Subtotal, Commerce, Science, and Transportation Committee	-$44.0 billion

Sources: CBO and author’s calculations. Numbers may not sum due to rounding.

Energy and Natural Resources Committee. The FY 2025 budget resolution instructed the Senate Energy and Natural Resources Committee to construct reconciliation measures to reduce budget deficits by at least $1 billion through FY 2034. CBO estimates that the committee-drafted measures in the One Big Beautiful Bill will save $21.3 billion over the FY 2025–2034 budget window.

Energy and Natural Resources Committee Provisions in the One Big Beautiful Bill

Provision	FY 2025–2034 Cost/Savings (-)
Onshore oil and gas lease sales	-$11.4 billion
Rescind funding from certain Inflation Reduction Act-established programs	-$7.1 billion
Offshore oil and gas lease sales	-$4.2 billion
Alaska oil and gas lease sales	-$0.6 billion
Coal lease sales	-$0.2 billion
Require the Forest Service and the Bureau of Land Management to engage in timber sales and long-term contracting	-$0.4 billion
Rescind National Park Service and Bureau of Land Management funds	-$0.3 billion
Funding for surface water storage and water conveyance enhancement	$1.0 billion
Replenish the Strategic Petroleum Reserve	$0.9 billion
Reform Department of Energy loan program	$0.8 billion
Funding to celebrate the United States’ 250th anniversary	$0.2 billion
Other provisions	$0.3 billion
Subtotal, Energy and Natural Resources Committee	-$21.3 billion

Sources: CBO and author’s calculations. Numbers may not sum due to rounding.

Environment and Public Works Committee. The FY 2025 budget resolution instructed the Senate Environment and Public Committee to construct reconciliation measures to increase budget deficits by a maximum amount of $1 billion through FY 2034. CBO estimates that the committee-drafted measures in the One Big Beautiful Bill will save $3.5 trillion over the FY 2025–2034 budget window.

Environment and Public Works Committee Provisions in the One Big Beautiful Bill

Provision	FY 2025–2034 Cost/Savings (-)
Rescind unspent funds from the Environment and Public Works Committee’s title of the Inflation Reduction Act (IRA)	-$5.1 billion
Pause IRA methane tax for ten years	$1.4 billion
Funding for the Kennedy Center	$0.3 billion
Subtotal, Environment and Public Works Committee	-$3.5 billion

Sources: CBO and author’s calculations. Numbers may not sum due to rounding.

Finance Committee. The FY 2025 budget resolution instructed the Senate Finance Committee to construct reconciliation measures to increase budget deficits by a maximum amount of $1.5 trillion through FY 2034. CBO estimates that the committee-drafted measures in the One Big Beautiful Bill will cost $3.6 trillion over the FY 2025–2034 budget window.

Finance Committee Provisions in the One Big Beautiful Bill

Provision	FY 2025–2034 Cost/Savings (-)
Extend Tax Cuts and Jobs Act of 2017
Extend reduced individual income tax rates (10%, 12%, 22%, 24%, 32%, 35%, and 37%)	$2.2 trillion
Extend and enhance increased standard deduction	$1.4 trillion
Extend repeal of personal exemptions	-$1.8 trillion
Extend increased Alternative Minimum Tax exemption amounts and modified phaseout thresholds	$1.4 trillion
Increase state and local tax deduction cap from $10,000 to $40,000 and phase down cap for income above $500,000	-$946.2 billion
Extend and enhance increased Child Tax Credit	$816.8 billion
Extend 20% Qualified Business Income (QBI) Deduction, expand deduction phase-in range, and create minimum deduction of $400	$736.5 billion
Limit tax benefits of itemized deductions	$255.5 billion
Extend termination of miscellaneous itemized deductions other than eligible educator expenses	-$231.6 billion
Extend and enhance increased estate and gift tax exemption amounts	$211.7 billion
Extend $750,000 mortgage interest deduction	-$39.5 billion
Extend repeal of deduction and exclusion for moving expenses	-$13.6 billion
Extend other Tax Cuts and Jobs Act of 2017 provisions	-$1.2 billion
Provide Middle-Class Tax Relief
No tax on overtime through 2028	$89.6 billion
No tax on tips through 2028	$31.7 billion
No tax on car loan interest	$30.6 billion
Create Money Accounts for Growth and Advancement savings accounts and pilot program for newborns	$15.6 billion
Provide Family Tax Relief
Enhance child and dependent care tax credit and dependent care assistance program	$15.2 billion
Enhance Adoption Tax Credit	$2.3 billion
Enhance employer-provided child care tax credit	$0.7 billion
Provide Community Development Tax Relief
Create $1,000 ($2,000 for couples) deduction of charitable contributions made by non-itemizers	$73.8 billion
Impose 0.5-percent floor deduction of charitable contributions made by itemizers	$63.1 billion
Impose 1-percent floor on deduction of charitable contributions made by corporations	$16.6 billion
Reform taxation of opportunity zones	$41.0 billion
Enhance Low-Income Housing Tax Credit	$15.7 billion
Extend New Markets Tax Credit	$5.2 billion
Other provisions	$4.1 billion
Provide Small Business and Rural America Tax Relief
Expand qualified small business stock gain exclusion	$17.2 billion
Repeal revision to de minimis rules for third party network transactions	$8.9 billion
Reform treatment of capital gains from the sale of certain farmland property	$7.3 billion
Increase threshold for requiring information reporting for certain payees	$4.2 billion
Restore taxable real estate investment trust subsidiary asset test	$3.2 billion
Exclude interest on loans security by rural or agricultural real property	$2.0 billion
Other provisions	$1.9 billion
Provide Business Tax Relief
Extend 100 percent bonus depreciation	$362.7 billion
Allow full expensing of research and experimental costs	$141.5 billion
Allow 100 percent depreciation of qualified production property	$141.4 billion
Increase business interest deduction cap	$60.5 billion
Increase dollar limitations for expensing of certain depreciable business assets	$24.8 billion
Enhance Advanced Manufacturing Investment Tax Credit	$14.9 billion
Extend and enhance paid family and medical leave tax credit	$5.5 billion
Other provisions	$2.0 billion
Provide International Tax Relief
Modify deduction for foreign-derived deduction amount eligible income and net controlled foreign corporation tested income	$86.9 billion
Extend and modify base erosion and anti-abuse minimum tax amount	$30.6 billion
Modify rules related to the allocation and appointment of deductions to income in the global intangible low-tax income category for determining foreign tax credit limitation	$29.7 billion
Modify rules related to determination of deemed paid credit for taxes attributable to tested income	$24.7 billion
Modify business interest limitation	-$21.7 billion
Modify pro rata share rules	-$16.3 billion
Extend look-through rule for related controlled foreign corporations	$9.7 billion
Modify definition of deduction eligible income	$7.6 billion
Modify rules related to deemed intangible income	$6.6 billion
Source certain income from the sale of inventory produced in the United States	$6.4 billion
Other provisions	$2.6 billion
Provide Other Tax Relief
Modify de minimis entry privilege for commercial shipments	-$39.3 billion
Extend limit on excess business losses for noncorporate taxpayers	-$18.4 billion
Add entity aggregation rule for purposes employee renumeration deduction disallowance	-$15.7 billion
Clarify treatment of payments from partnerships to partners for property or services	-$12.4 billion
Impose 3.5-percent excise tax on certain remittance transfers	-$10.0 billion
Expand tax on excess employee compensation	-$3.8 billion
Create tax credit for contributions to scholarship-granting organizations	$25.9 billion
Extend exclusion for employer payments of student loans	$11.2 billion
Other provisions	-$2.0 billion
Repeal or Reform Clean Energy Tax Credits
Repeal Clean Electricity Investment tax credit	-$165.7 billion
Repeal Qualified Commercial Clean Vehicle tax credit	-$104.5 billion
Repeal Clean Vehicle tax credit	-$77.8 billion
Repeal Residential Clean Energy tax credit	-$77.4 billion
Phase out Advanced Manufacturing Production tax credit	-$50.0 billion
Repeal Clean Electricity Production tax credit	-$24.9 billion
Repeal Energy Efficient Home Improvement tax credit	-$21.2 billion
Repeal Previously-Owned Clean Vehicle tax credit	-$7.4 billion
Repeal Clean Hydrogen Production tax credit	-$5.9 billion
Repeal New Energy Efficient Home tax credit	-$5.4 billion
Repeal Alternative Fuel Vehicle Refueling Property tax credit	-$2.0 billion
Repeal cost recovery for energy property	-$0.3 billion
Repeal Energy Efficient Commercial Buildings deduction	-$0.1 billion
Extend and modify Clean Fuel Production tax credit	$25.7 billion
Restrict Carbon Oxide Sequestration tax credit	$14.2 billion
Other provisions	$3.7 billion
Reform Medicare and Medicaid
Require states to establish Medicaid work requirements	-$317.0 billion
Prohibit non-expansion states from increasing provider taxes	-$182.7 billion
Revise payment limit for Medicaid state directed payments	-$149.4 billion
Limit eligibility of aliens for premium tax credits	-$124.2 billion
Prohibit implementation of Medicare Saving Programs eligibility and enrollment rule	-$66.0 billion
Require states to conduct Medicaid eligibility redeterminations every six months for enrolled through the Affordable Care Act’s Medicaid expansion	-$58.0 billion
Prohibit implementation of Medicaid, Children’s Health Insurance Program (CHIP), and Basic Health Program eligibility and enrollment rule	-$53.6 billion
Require verification of certain insurance information for premium tax credit eligibility	-$41.3 billion
Prohibit premium tax credit eligibility in the case of certain coverage enrolled in during special enrollment period	-$40.8 billion
Reform waiver of uniform tax requirement for Medicaid provider tax	-$34.0 billion
Equalize Medicaid FMAP for aliens receiving emergency Medicaid	-$28.0 billion
Prohibit implementation of staffing standards rule for Medicare and Medicaid long-term care facilities,	-$23.1 billion
Eliminate limits on recapture of advance payments of premium tax credits	-$19.5 billion
Reduce duplicate enrollment in Medicaid and CHIP	-$17.4 billion
Sunset increased FMAP incentive	-$12.8 billion
Require Medicaid expansion enrollees earning more than 100 percent of the Federal Poverty Line to pay cost-sharing amounts up to $35 per service	-$7.4 billion
Reduce erroneous excess payments in Medicaid	-$7.2 billion
Reform Medicaid eligibility for aliens	-$6.2 billion
Limit Medicaid retroactive coverage to the month preceding enrollment for ACA Medicaid expansion beneficiaries	-$4.2 billion
Cap home equity limit maximum at $1 million for determining eligibility for Medicaid-covered long-term services	-$0.2 billion
Funding for Rural Health Transformation Program	$47.2 billion
Reform coverage of Medicaid home- or community-based services	$6.6 billion
Limit Medicare coverage for certain individuals	$5.0 billion
Expand and clarify exclusion for orphan drugs under drug price negotiation program	$4.9 billion
Other provisions	-$9.5 billion
Interactions among provisions	$99.4 billion
Subtotal, Finance Committee	$3.6 trillion

Sources: CBO and author’s calculations. Numbers may not sum due to rounding,

Health, Education, Labor, and Pensions Committee. The FY 2025 budget resolution instructed the Senate Health, Education, Labor, and Pensions Committee to construct reconciliation measures to reduce budget deficits by at least $1 billion through FY 2034. CBO estimates that the committee-drafted measures in the One Big Beautiful Bill will save $284.0 billion over the FY 2025–2034 budget window.

Health, Education, Labor, and Pensions Committee Provisions in the One Big Beautiful Bill

Provision	FY 2025–2034 Cost/Savings (-)
Simplify student loan repayment for new borrowers and streamline income-driven repayment for existing borrowers	-$270.5 billion
Eliminate Grad PLUS loans, cap unsubsidized graduate and professional borrowing, and cap Parent PLUS loans	-$44.2 billion
Delay Biden-era expansion of Borrower Defense to Repayment regulation for ten years and restore Trump-era regulation	-$11.5 billion
Delay Biden-era expansion of Closed School Discharge regulation for ten years and restore Trump-era regulation	-$5.2 billion
Establish “do no harm” standard that ends federal student loan eligibility for programs that leave students worse off	-$0.8 billion
Provide funding to address the Pell Grant shortfall and reform and limit Pell Grant eligibility	$10.6 billion
Eliminate economic hardship and unemployment deferments of student loan payments, limit availability of forbearances, allow borrowers to rehabilitate defaulted student loans twice instead of once, allow payments made under the Repayment Assistance Plan to count toward Public Service Loan Forgiveness eligibility, and provide funding to the Department of Education for student loan servicing	$1.4 billion
Other provisions	$0.4 billion
Interactions among provisions	$35.8 billion
Subtotal, Health, Education, Labor, and Pensions Committee	$284.0 billion

Sources: CBO and author’s calculations. Numbers may not sum due to rounding.

 Homeland Security and Government Affairs Committee. The FY 2025 budget resolution instructed the Senate Homeland Security and Government Affairs Committee to construct reconciliation measures to increase budget deficits by a maximum amount of $175 billion through FY 2034. CBO estimates that the committee-drafted measures in the One Big Beautiful Bill will cost $128.9 billion over the FY 2025–2034 budget window.

Homeland Security and Government Affairs Committee Provisions in the One Big Beautiful Bill

Provision	FY 2025–2034 Cost/Savings (-)
Funding for detention of illegal aliens awaiting removal from the U.S.	$45.0 billion
Funding for border wall construction	$44.7 billion
Funding for state and local assistance	$12.6 billion
Funding for U.S. Customs and Border Protection personnel, fleet vehicles, and facilities	$12.0 billion
Funding for Department of Homeland Security	$10.0 billion
Funding for improvements to surveillance at the border	$6.2 billion
Funding for presidential residence protection	$0.3 billion
Funding for Office of Management and Budget	$0.1 billion
Funding for Pandemic Response Accountability Committee	$0.1 billion
Improve Federal Employees Health Benefits program	-$2.0 billion
Subtotal, Homeland Security and Government Affairs Committee	$128.9 billion

Sources: CBO and author’s calculations. Numbers may not sum due to rounding.

Judiciary Committee. The FY 2025 budget resolution instructed the Senate Judiciary Committee to construct reconciliation measures to increase budget deficits by a maximum amount of $175 billion through FY 2034. CBO estimates that the committee-drafted measures in the One Big Beautiful Bill will cost $8.9 billion over the FY 2025–2034 budget window.

Judiciary Committee Provisions in the One Big Beautiful Bill

Provision	FY 2025–2034 Cost/Savings (-)
Immigration Fees
Impose $250 fee on aliens who travel to the U.S. on a nonimmigrant visa	-$27.4 billion
Increase Form I-94 fee from $6 to $30	-$9.5 billion
Increase Electronic System for Travel Authorization fee from $21 to $40	-$3.1 billion
Impose $100 annual fee each year an asylum application remains pending	-$1.1 billion
Impose minimum $550 employment authorization application fee on asylum applicants seeking employment, on aliens paroled into the U.S., and on aliens granted Temporary Protected Status (TPS) seeking employment	-$1.0 billion
Impose $550 fee on asylum applicants seeking a renewal or extension of employment authorization	-$0.7 billion
Impose $550 fee on aliens granted TPS seeking a renewal or extension of employment authorization	-$0.7 billion
Impose $500-$1,500 fee on applications for adjustment of status	-$0.5 billion
Impose minimum $1,000 fee on aliens applying for asylum	-$0.1 billion
Impose $5,000 fee on aliens ordered removed in absentia	-$0.1 billion
Impose $30 Electronic Visa Update System fee; impose minimum $1,000 fee on aliens paroled into the U.S.; impose $500 fee on aliens applying for TPS; impose $5,000 fee on aliens apprehended between ports of entry; and impose $500 fee on aliens that apply for Special Immigrant Juvenile Status if reunification with a parent or legal guardian is possible	-$0.1 billion
Immigration and Law Enforcement Funding
Funding for U.S. Immigration and Customs Enforcement	$29.9 billion
Funding for the U.S. Bureau of Prisons	$4.8 billion
Funding for Bridging Immigration-Related Deficits Experienced Nationwide Reimbursement Fund	$3.5 billion
Funding for the Department of Justice	$3.3 billion
Funding for the Department of Homeland Security	$2.1 billion
Funding for the U.S. Secret Service	$1.2 billion
Funding for federal law enforcement training centers	$0.8 billion
Radiation Exposure Compensation
Change eligibility for claims related to atmospheric testing	$5.5 billion
Change eligibility for claims related to uranium mining	$1.3 billion
Change eligibility for claims related to Manhattan Project waste	$0.9 billion
Subtotal, Judiciary Committee	$8.9 billion

Sources: CBO and author’s calculations. Numbers may not sum due to rounding.