Everything You Need to Know About Senate’s Version of the Big Beautiful Bill

The Senate Finance Committee has released its version of the One Big Beautiful Bill, presenting changes different from those in the House legislation. Republican lawmakers in both chambers will need to act swiftly, if they are to send the sweeping tax-cut and spending bill to President Donald Trump’s desk before July 4. While both versions are broadly similar—they make the tax rates and income brackets of the 2017 Tax Cuts and Jobs Act permanent, for example—the Senate alternative made several changes. Here are the differences between the House and Senate versions: Pass the SALT The State and Local Tax (SALT) Deduction, a federal tax break permitting deductions from state and local tax payments, has been a source of contention among lawmakers....