The Byrd rule also is the reason that key
elements of the new tax law—including the reduction in individual income tax
rates, the expansion of the child tax credit, the increase in the standard deduction,
the new deduction for pass-through income, and the increase in the estate and
gift tax exemption—are set to expire at the end of 2025. And the Byrd rule is the
reason why a number of provisions that appeared in earlier versions of the bill—
including a measure that would have allowed 501(c)(3) organizations to
participate in political campaigns, several significant changes to the Low Income
Housing Tax Credit, and the repeal of the tax-exempt status of professional
sports leagues—all were eliminated from the final legislation.