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↵↵The testimony comes just over a month into the 2026 tax filing season, which has been marked by the Trump administration's efforts to shrink the IRS workforce despite all the new tax code changes from
For prior research investments made during the 2022 through 2024 period, the law enabled businesses to claim deferred deductions this year or across 2025 and 2026.
that would lower insulin costs by providing $3.1 billion to help federally qualified health centers cover the direct costs of discounted insulin and epinephrine for qualifying patients through fiscal 2026
Under the package, patients wouldn’t see prices that Medicare negotiates directly with drugmakers until 2026, and they would only involve 10 high-cost drugs.
Now the bill includes a one-year expansion and almost $4 billion available through 2026 for the IRS, along with another $1 billion for the Treasury Department to support enrollment and administration
with party leaders on a potential five-year suspension of the $10,000 cap on state and local tax deductions, though that break would be paid for by extending the current law cap five years beyond its 2026
A change to how companies count research and development expenses, which would’ve undercut their ability to deduct that spending, would be pushed off to 2026.
Medicare’s financial problems start to pinch in 2026, when hospital payments would need to be trimmed 9 percent, according to government actuaries.