What I'm Working On: The Tax Cuts and Jobs Act and a Win Worth Noting

I've spent this week rewriting Chapter 2 of the next book, on the Tax Cuts and Jobs Act. When I first wrote about the 2017 law, most of its individual provisions were set to expire at the end of 2025. They didn't.

The One Big Beautiful Bill Act, signed in 2025, made most of those provisions permanent. New modeling from the Tax Foundation, released just days ago, shows 62 percent of taxpayers avoided a scheduled tax increase this year, with average after tax income up about 5.4 percent. That's the kind of update a writer likes making. The book's original argument held up; I'm just updating the chapter to reflect it.

A second story, unrelated to tax policy. This past month marked one year since the Armenia Azerbaijan peace agreement was signed at the White House, ending a conflict that had simmered since before the Soviet Union collapsed. All three governments released a joint statement in August reaffirming the progress made, including a planned transit corridor through Armenian territory that had been frozen for a generation.

Both stories point to the same idea. A tax law's permanence gets measured in IRS filings years later. A peace deal's durability gets measured in whether the guns stay quiet long after the cameras leave. This year, both passed a real test.

Back to the chapter. More soon.

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