The 2025 reconciliation law (H.R. 1)
The 2025 reconciliation law (H.R. 1), Public Law 119-21 (H.R. 1), enacted 2025-07-04. What the text says, its status by provision, and sources.
Public Law 119-21 was enacted July 4, 2025 as H.R. 1, a reconciliation law. Among its provisions, section 70120 changed the individual deduction limit for certain state and local taxes that the 2017 tax law had set at $10,000 through 2025: it is $40,000 for 2025 and $40,400 for 2026, then rises 1 percent a year through 2029 and returns to $10,000 in 2030, reduced for higher incomes. This record covers only that provision so far. Economic effects, who was affected and why people disagree are marked as not yet researched where that is so. No person has signed off on this record.