What’s Inside the GOP Tax Bill

The tax cuts are estimated to cost $3.7 trillion, according to the Joint Committee on Taxation—below the $4 trillion target set by congressional Republicans.

The U.S. Capitol building in Washington on May 5, 2025.Madalina Vasiliu/The Epoch Times

The House Ways and Means Committee on May 12 released the tax policy portion of the GOP megabill to implement President Donald Trump’s sweeping agenda.

The committee, which deals with taxes and other government revenue sources, is scheduled to meet on May 13 to mark up the bill in what will be a closely-watched hearing amid disagreements on aspects such as the State and Local Tax deduction, or SALT.