Tax bills and proposals we're tracking
Every tax bill, proposal, and legislative change that could affect your return — explained in plain English with real-time status updates.
One Big Beautiful Bill Act
The sweeping reconciliation bill signed in 2025 that made TCJA tax cuts permanent, raised the SALT cap to $40,000, created new deductions for tips, overtime, auto loan interest, and seniors, established Trump Accounts for children, and increased the child tax credit to $2,500.
Who's affected: Nearly all taxpayers — W-2 workers, self-employed, families, retirees, high-tax-state residents
Key provisions:
SALT Deduction Cap — Further Increase Proposals
Several bipartisan proposals seek to raise the SALT deduction cap beyond the current $40,000 or eliminate it entirely. Representatives from high-tax states (NY, NJ, CA, CT, IL) are pushing for a higher cap or full repeal, arguing the current limit still penalizes residents of states with high property and income taxes.
Who's affected: Residents of high-tax states (NY, NJ, CA, CT, IL, MD)
Expanded Child Tax Credit
New proposals would increase the per-child credit beyond $2,500 and expand the refundable portion. Some proposals would make the full credit refundable (meaning families who owe little or no tax could receive the full amount as a refund). Supporters argue this would reduce child poverty.
Who's affected: Families with children, especially lower-income households
Capital Gains Tax Reform
Several proposals floating around to change how long-term capital gains are taxed. Ideas range from indexing capital gains for inflation (reducing effective tax on long-held assets) to increasing the top rate for high earners. Nothing concrete has advanced to committee yet, but investors should pay attention.
Who's affected: Investors, real estate owners, business sellers, high-income earners
Gig Worker Tax Simplification Act
This bill aims to simplify quarterly estimated tax filing for freelancers, gig workers, and independent contractors. It would reduce penalties for first-time estimated tax filers who underpay, create a simplified annual election for gig workers earning under $50,000, and require platforms like Uber, DoorDash, and Fiverr to offer optional tax withholding.
Who's affected: Freelancers, gig workers, Uber/Lyft drivers, DoorDash/Instacart workers, 1099 contractors
Crypto Tax Reporting Overhaul
With the new Form 1099-DA now in effect for 2026, lawmakers are considering additional changes to cryptocurrency taxation including extending the wash sale rule to digital assets, establishing clearer guidance on DeFi and staking income, and potentially creating a de minimis exemption for small crypto transactions (under $200).
Who's affected: Cryptocurrency investors, DeFi users, NFT traders
State Income Tax Elimination Movement
Multiple states (Georgia, South Carolina, Missouri, and others) are advancing legislation to reduce or eliminate state income taxes. Some are phasing rates down over several years; others are proposing immediate elimination funded by sales tax increases or spending cuts. This movement accelerated after the TCJA made the SALT cap permanent.
Who's affected: Residents of states considering tax changes
Not sure how these changes affect you?
A tax professional can help you understand what the new laws mean for your specific situation.
Find a tax pro near me →Legislative information is based on publicly available bill text and congressional records. Status updates reflect our understanding as of the most recent review. Consult a tax professional for advice specific to your situation.