Temporary Provisions in Tax Bill

The current versions of the draft tax legislation contained in the GOP’s “one big, beautiful bill” contains several new tax code provisions that, if passed into law, would expire after 2028. For example, both the above-the-line deductions for qualifying tip income and overtime income would only be available through 2028, and the enhanced standard deduction for lower-income seniors would also expire after 2028. Similarly, the newly created above-the-line deduction for auto loan interest would only be available for tax years 2025 through 2028.

We asked two professors and authors of ALM’s Tax Facts with opposing political viewpoints to share their opinions about the decision to make many of the new tax relief provisions in the draft tax legislation temporary.

Below is a summary of the debate that ensued between the two professors.