A tax code that is simpler, more neutral, and better aligned with long-term economic growth is still within reach, but this bill doesn’t get us there.

There are many ways the Senate can improve the One Big Beautiful Bill Act, including making expensing permanent and more broadly available, rejecting new tax-based entitlements like Trump accounts, and scaling back politically driven carve-outs.

Trump can threaten iPhones and the E.U. all he wants. They won’t provide a reliable source of revenue.

Terrible economics aside, there’s simply no possible way it could work.

Lawmakers should prioritize fiscal responsibility by staying within the fiscal guardrails agreed to in the House budget Fiscal Framework. Permanent, pro-growth tax reform is eminently doable by eliminating or scaling back the flood of new and expanded tax preferences, repealing costly subsidies already in the tax code, and cutting additional spending.