I decided to post the following for various reasons at this point. First, since the One, Big, Beautiful Bill has already had some amendments made to Title XI by the House Rules Committee (though the full updated bill text is not available as of the morning of May 24) there’s little reason to refine this document. Second, I have found it useful as a starting point for answering questions about the bill (being able to find relevant items in the bill text and JCT report). And, third, it does demonstrate the usefulness of NotebookLM for getting on top of these sorts of things, as well as gave me a good learning experience in how to deal with new law text (the JCT report was really useful in being able to handle the bill, since the latter only comes with the changes to the IRC, not the full revised IRC provision in context which is often needed to understand what Congress is doing).

So I am posting the analysis I compiled of the bill using NotebookLM, the bill text that was approved by the Ways & Means Committee, and the JCT report on the various provisions in that bill. I added a section on the proposed changes to PL 86-272 as well though that was added by a different committee and is not part of Title XI.

The way I handled it was to craft a prompt to ask for an analysis dealing with specific areas of each section in the bill, working from the section list in the Ways & Means Committee summary. Giving NotebookLM “bite sized” items to analyze proved a much more accurate way to get it to focus on the proper items than trying to pick off multiple provisions at once. And I did scan the output to make sure I didn’t see any obvious issues, following up on a few things where I was surprised though most often discovering that “yeah, that’s how it was written” when I was done reviewing the appropriate sections of each document.

You can download that analysis below. There’s little reason for me to refine it more at this point since the final bill will require a “start over” (you never know what change will sneak in as a bill moves through the process) but, as I noted, with the caveat that you don’t assume it’s 100% accurate (which you shouldn’t do for any analysis–the law is what matters), I do find it useful.

If you haven’t used it, you might want to go look at NotebookLM. Even with a free account you can do a decent analysis (just not a huge number of them).