Estimated Budgetary Effects of an Amendment in the Nature of a Substitute to H.R. 1, the One Big Beautiful Bill Act, Relative to the Budget Enforcement Baseline for Consideration in the Senate

CBO estimates that enacting the substitute amendment would not increase on-budget deficits after 2034 relative to CBO's January 2025 baseline budget projections, adjusted to extend 26 tax provisions of the 2017 tax act and updated to reflect enacted legislation.