Marc Gerson, former chief tax counsel to the House of Representatives' Ways and Means Committee, discussed the House's new tax bill, which includes significant business and individual tax relief. He noted that the bill revives the "big three" corporate tax provisions: 100% corporate bonus depreciation related to capital investments, allow expensing for corporate research and development costs, and permit companies to use more favorable calculations of interest expenses deductions. Gerson emphasized that the bill maintains key international tax provisions — global intangible low-taxed income (GILTI), foreign-derived intangible income (FDII), and the base erosion and anti-abuse tax (BEAT) — which he said "had been poised to expire this year." Despite its progress, Gerson cautioned that "it's still got to get through the House floor and then through the Senate. So there's still opportunities and risks as the legislative process is far from over."