Washington Edition

Amazon, Meta, Tax Bills Drop in Wake of GOP Legislation

Annual corporate tax revenue fell $65 billion in wake of One Big, Beautiful Bill
Trump signed the One, Big Beautiful Bill Act into law on July 4.Photographer: Samuel Corum/Getty Images/Getty Images North America

I’m Jonathan Tamari, senior Washington reporter for Bloomberg Government, and each weekday I’ll be coming to you with inside-the-room reporting and insights that reveal what’s really happening in Washington—and how it impacts you. Email me with feedback and comments here. If this newsletter was forwarded to you sign up here.

Today, lower corporate tax bills, higher gasoline prices and Wall Street’s March madness bracket.