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Patriot,

It may seem obvious to folks like you, but not everyone knows what’s on the
line next year. Most may not even know taxes are changing.

The One Big Beautiful Bill Act (OBBBA) included seven major tax cuts that
took effect for 2025:

* Maximum child tax credit increase of $200
* Standard deduction increase of $750 for single filers and $1,500 for joint
filers
* State and local tax (SALT) deduction cap increase to $40,000 for taxpayers
earning under $500,000
* New $6,000 additional deduction for seniors that starts phasing out when
taxpayers make more than $75,000 ($150,000 joint)
* New $10,000 auto loan interest deduction that starts phasing out when
taxpayers make more than $100,000 ($200,000 joint)
* New deduction for up to $25,000 in tip income that starts phasing out when
taxpayers earn more than $150,000 ($300,000 joint)
* New deduction for up to $12,500 in overtime income ($25,000 for joint
filers) that starts phasing out when taxpayers earn more than $150,000
($300,000 joint)
Tax Foundation estimates that, altogether, these seven provisions cut
individual income taxes by $129 billion in 2025.

However, the OBBBA added significantly to the federal deficit, which was
already on an unsustainable path. The insolvency of major entitlements like
Social Security and Medicare is just a few years away.

If you are wondering what this means for taxpayers in 2026, don’t worry,
you’re not alone.

Tax Foundation is dedicated to helping taxpayers understand exactly what is
happening in the world of tax policy and how it affects their daily lives.

I’m Daniel Bunn, President and CEO of Tax Foundation. Since 1937, our
principled research, insightful analysis, and engaged experts have informed
taxpayers and lawmakers about smarter tax policy in the US.

But to bring you the latest research, data, educational resources, and tax
modeling you need to make informed decisions, Tax Foundation needs all the
support it can get.

You can help Tax Foundation elevate the debate, enable deeper understanding,
and achieve better, more principled tax policy by donating today.
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Our work doesn’t just inform taxpayers; it also provides lawmakers with ideas
and justifications for the historically strong policies enacted in 2025, like
the OBBBA, which included policies we’ve been educating lawmakers on for years.

Every day, our team of trusted experts continuously analyzes the day’s most
relevant tax policy topics. They are routinely relied upon for presentations,
testimony, and media appearances on tax issues spanning every level of
government.

And when we have to, we are able to help lawmakers stand on their principles
in the face of misguided proposals.

Tax Foundation’s job is to ensure solutions remain principled and pro-growth.

But we need your support to keep our foot on the pedal.

Your support will help us educate policymakers and the public on tax policies
that lead to greater economic growth and opportunity. Click below to donate
today.


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Thank you,


Daniel Bunn
President and CEO
Tax Foundation


P.S. Tax Foundation is known for its research, data, tax models, and
educational resources that make tax policy easy to understand, whether you’re a
layman or a lawmaker.

In 2025 alone:

* Our experts had 96 meetings with US legislators and testified or presented
to state lawmakers in 33 states.
* Journalists cited our work in over 68,000 stories.
* Over 15.4 million taxpayers visited our website.
* 411,000 people listened to our podcast.
When you invest in our work, you are supporting principled, data-driven
analysis that makes a real difference for anyone who wants to boost their tax
knowledge.

Will you please make a tax-deductible donation today to support our
fact-driven work?
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Tax Foundation is a 501(c)(3) nonprofit educational organization. Any
donations made to Tax Foundation are tax-deductible to the full extent
allowable by law.
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