WASHINGTON – U.S. Senator John Cornyn (R-TX) today released the following statement on his tax priorities included in the Senate Finance Committee’s legislative text for the Senate’s version of the One Big Beautiful Bill Act:  

“The One Big Beautiful Bill presents a once-in-a-generation opportunity for Congress to bend the spending curve, make key provisions of the Trump Tax Cuts permanent, and improve the lives of hardworking Texas families,” said Sen. Cornyn. “Under Chairman Crapo’s leadership, the Senate Finance Committee has worked around the clock to release this landmark legislation, marking an important step forward in our mission to deliver on President Trump’s mandate.”

The Senate Finance Committee’s legislative text for the Senate’s version of the One Big Beautiful Bill Act contains the following provisions championed by Sen. Cornyn, a senior member of the committee:

• Includes his Stop Funding Genital Mutilation Act, which would prohibit federal funding from Medicaid and the Children’s Health Insurance Program (CHIP) from going towards gender transition procedures at any age;
• Includes a modified version of his Small Business Investment Act, which would make it easier for small and start-up businesses to access the financing they need to grow and succeed;
• Cuts burdensome taxes and regulations of certain firearms and silencers;
• Prevents a more-than $3,000 tax hike on the average Texas family;
• Protects 547,000 Texas jobs from being lost;
• Ensures more than 3.7 million Texas households’ child tax credit is not cut in half;
• Shields more than two million Texas small business owners from a massive tax hike;
• Makes sure more than 12 million Texas families’ standard deduction is not cut in half;
• Establishes work requirements for able-bodied adults who are choosing not to work and do not have dependent children or elderly parents in their care;
• And ensures no taxes on tips or overtime for millions of tipped and hourly workers.