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The Navigator: Unpacking the 'big, beautiful bill'

The winners, the losers, and the aftermath

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27 minutes, 45 seconds to listen by  Tim Leary Jul 16, 2025

Tim Leary, Senior Portfolio Manager, is joined by Justin Sok, Principal Consultant at Rich Feuer Anderson, to breakdown the winners and losers of the bill, and explore the potential impact on markets, businesses, and taxpayers. They also delve into the political dynamics behind the bill and its broader implications for growth, deficits, and investor decision-making.

Key points

  • Republican in congress utilized budget reconciliation to extend tax cuts, provide corporate tax benefits, and address policy priorities like border security and spending controls, while avoiding a broad tax increase.

  • Key winners include businesses benefiting from permanent provisions like 100% bonus depreciation, R&D expensing, and immediate expensing, which enhance cash flow and investment certainty.

  • The bill's high fiscal cost, estimated to reduce federal revenue by $4.5 trillion over the next decade, raises concerns about deficit spending and broader economic impacts, including potential higher borrowing costs.

  • Renewable energy sectors face setbacks as many consumer credits for solar installations and electric vehicles are phased out, affecting middle-income jobs like solar panel installers.

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