One Big Beautiful Bill Act - OBBBA

Signed into law on July 4, 2025, by President Trump, the "One Big Beautiful Bill Act" (OBBBA) is a sweeping, multi-trillion-dollar package primarily focused on making the 2017 Tax Cut and Jobs Act permanent, while cutting social safety net programs. It aims to boost working-class income through tax reductions on tips and overtime, while significantly increasing funding for border enforcement, immigration detention (ICE), and defense.

Key Aspects of the One Big Beautiful Bill:

Tax Cuts & Economy: Extends the 2017 TCJA tax cuts, including lower income tax brackets and higher standard deductions. It eliminates taxes on tips and overtime pay for eligible workers and offers up to a deduction for interest on American-made auto loans.

Family & Individual Benefits: Boosts the Child Tax Credit to and enhances the standard deduction to for families.

Social Program Cuts: Increases work requirements for Medicaid (ages 19-64) and reduces funding for SNAP and other safety net programs.

Border & Defense: Directs

billion toward border enforcement and immigration deportations, with funding for ICE set to increase significantly, alongside billion in new defense spending.

Energy & Environment: Modifies the Section 45Z Clean Fuel Production Credit, restricting it to fuels produced in North America.

Impact Estimates: Proponents claim it could create up to 7.2 million jobs, while critics argue it increases the federal deficit by trillion over a decade and acts as a massive transfer of wealth to the top 10% of earners.