On May 18, 2025, the House Budget Committee gave its nod to a significant piece of legislation known as “The One, Big, Beautiful Bill.” This bill, poised for revision by the House Rules Committee, is gearing up for a vote on the House floor. It represents a sweeping continuation and expansion of the 2017 Tax Cuts and Jobs Act, introducing a myriad of new provisions aimed at reshaping the tax landscape for businesses, individuals, and tax-exempt organizations alike.


Business Provisions

The House Bill extends several key business provisions. Notably, the definition of “adjusted taxable income” under section 163(j) will be based on EBITDA from 2025 to 2028, a move that is favorable to taxpayers. The deduction for qualified business income under Section 199A is increased to 23%, and the global intangible low-taxed income (GILTI) provisions are made permanent at a 10.5% rate. Additionally, the base-erosion and anti-abuse tax (BEAT) is set to remain at 10.5% permanently.


Other notable business provisions include the reestablishment of Opportunity Zones for 2027 through 2033, with a focus on rural areas, and the limitation of amortization deductions for sports franchises to 50% of the adjusted tax basis.


Tax-Exempt Provisions

For tax-exempt organizations, the bill proposes an increased excise tax on private university endowments and private foundations. The current 1.4% excise tax on net investment income of private colleges is replaced with a tiered system, with rates reaching as high as 21% for institutions with significant endowments. Private foundations face a similar tiered excise tax system based on asset size.


Individual Provisions

Individuals will see the maximum ordinary income tax rate of 37% made permanent. The standard deduction is increased for various filing statuses from 2025 to 2028. The bill also proposes the permanent repeal of the personal exemption and adjustments to itemized deduction limits.


Additionally, the bill introduces the concept of “MAGA” accounts, tax-exempt trust accounts for U.S. citizens under 18, with a one-time $1,000 federal credit for eligible children born between 2025 and 2028.


For a detailed breakdown of these provisions, refer to the original article on Tax Talks. This comprehensive analysis explores the implications of the bill across various sectors, providing insights into its potential impact on the economic landscape.

More Articles

Getting licensed or staying ahead in your career can be a journey—but it doesn’t have to be overwhelming. Grab your favorite coffee or tea, take a moment to relax, and browse through our articles. Whether you’re just starting out or renewing your expertise, we’ve got tips, insights, and advice to keep you moving forward. Here’s to your success—one sip and one step at a time!

PropTech Funding Soars to $16.7B as Real Estate Enters a New Era of AI-Driven Innovation

PropTech investment surged nearly 68% in 2025, hitting a massive $16.7 billion and surpassing pre-pandemic highs. Investors are shifting toward practical, AI-powered tools that streamline operations, improve efficiency, and deliver immediate results. With 2026 shaping up to be a year of selective but strong growth, real estate professionals who stay ahead of tech trends will gain a major competitive edge.

Florida Insurance Shake-Up: Citizens Announces Even Bigger Rate Cuts for 2026

Florida homeowners are finally seeing real relief as Citizens Property Insurance Corp. unveils an average 8.7% rate decrease for 2026—its largest cut in over a decade. Sparked by recent legislative reforms, a calm hurricane season, and renewed competition from insurers reentering the state, the drop is poised to significantly impact homeowners, real estate professionals, and industry trainees across Florida.

Tampa’s Real Estate Market Enters a Smarter, More Selective Growth Phase

Tampa’s commercial real estate market is still growing, but investors are shifting from rapid dealmaking to highly selective, detail‑driven decisions. Population growth, steady office demand, stabilizing industrial activity, and a rebound in retail are keeping the market strong, while health‑care properties are emerging as a major sector for 2026. The region’s next chapter is defined by precision, disciplined underwriting, and long‑term strategy rather than speed.

Homesage.ai Launches Lightning-Fast AI Comps, Slashing Valuation Time for Real Estate Pros

Homesage.ai has released a new AI-powered comps engine that cuts property valuation time from hours to seconds by analyzing hundreds of data points across listings, public records, and proprietary datasets. Designed for agents, investors, and lenders, the tool delivers highly accurate comparable properties and real-time market insights, giving professionals a competitive edge in today’s rapidly shifting housing landscape.

Are the Massive Realtor Settlements Truly Fair? Federal Judges Are Digging for Answers

A panel of federal judges is closely examining whether the National Association of Realtors’ billion‑dollar antitrust settlements—and similar deals struck by major brokerages—are genuinely fair to the millions of buyers and sellers affected. With plaintiffs arguing that homebuyers’ rights were improperly dismissed and compensation falls far short of true losses, the court’s upcoming decision could reshape commission practices and spark one of the most significant structural shifts in modern real estate.

The SEC’s New “Small RIA” Definition Could Reshape M&A and Spark a Wave of Breakaway Advisers

The SEC is proposing a dramatic shift in how it defines a “small” registered investment adviser — raising the threshold from under 25 million in assets to under 1 billion. The change would instantly reclassify about 96 percent of RIAs and could create ripple effects across mergers and acquisitions, integration planning, and breakaway adviser activity. While the move aims to reduce administrative burden, it may also introduce new complexities for firms scaling past the billion‑dollar mark.