JCX-32-25 (July 01, 2025)

Distribution Of The Estimated Revenue Effects Relative To The Current Policy Baseline Of The Tax Provisions In "Title VII - Finance" Of The Substitute Legislation Under Consideration By The Senate To Provide For Reconciliation Of The Fiscal Year 2025 Budget

The staff of the Joint Committee on Taxation (“Joint Committee staff”) has prepared distributional analyses of the estimated revenue effects of the tax provisions in “Title VII – Finance” of the substitute legislation under consideration by the United States Senate to provide for reconciliation of the fiscal year 2025 budget.

In JCX-30-25 and JCX-31-25 the Joint Committee staff presented revenue analysis in two different formats.  In JCX-30-25 the estimates were reported relative to a defined current policy baseline.  In JCX-31-25 the estimates were reported relative to the present law baseline.  The Joint Committee staff has prepared its distributional analyses in two different formats to be consistent with the presentation of the underlying revenue estimates.  In JCX-32-25 the distributional analysis is reported relative to the defined current policy baseline.  In JCX-33-25 the distributional analysis is reported relative to the present law baseline.

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