May 28, 2026 (Special Edition)

The Joint Committee on Taxation’s staff on May 28 issued a report offering a detailed analysis of the new tax law enacted last year commonly known as the One Big Beautiful Bill Act (OBBBA, P.L. 119-21).

The 341-page document covers every section of the law, which some Republicans have increasingly begun referring to as the Working Families Tax Cuts. The new JCT report is akin to a so-called Bluebook, which JCT releases to provide a general explanation of tax legislation passed by a given Congress, in that for each OBBBA provision, it includes a description of prior law, a detailed explanation of the new provision, and the effective date. But unlike a traditional Bluebook, the new JCT report is limited solely to OBBBA, making it a new resource for additional background on the intent behind all the OBBBA provisions.

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