Senate tax bill less populist, more supply-side than House version

The Senate’s version of the One Big Beautiful Bill Act tax legislation is slightly less populist than the House bill and is more in tune with the GOP’s traditional supply-side orientation.

The tax portion of the bill released by the Senate Finance Committee on Monday includes some significant changes from the House version, such as a smaller boost to the child tax credit, limitations on some of the new tax breaks called for by President Donald Trump, and permanent business investment tax breaks.