Here we go again. This week, the Senate finally passed its version of the "One Big Beautiful Bill Act," and the House signed off.* What was already an oversized mess has been supersized into a $4 trillion ode to unseriousness.
This isn't tax reform. It's a bipartisan piñata stuffed with pork, gimmicks, and—of course—debt. We're told to cheer because the bill makes permanent a few pro-growth policies, including 100 percent bonus depreciation and research and development expensing. However, a few pearls in a vast ocean of bad policies are nothing to celebrate. It's like marveling at newly painted rooms in a burning house.
We've been told to cheer because the bill removes or trims $147 billion of the House version's worst handouts. But as an Arnold Ventures analysis points out, the Senate also added $186 billion to the pot. That's a net increase of $39 billion in pork.
