#OneBigBeautifulBill [7/4, 6:05 PM] Meta AI: The One Big Beautiful Bill Act is a budget reconciliation bill passed by the 119th United States Congress, containing tax and spending policies that form the core of President Donald Trump's second-term agenda. Here are the key points about the bill ¹ ²:

- *Passage*: The bill passed the House of Representatives on May 22, 2025, with a vote of 215-214-1 and the Senate on July 1, 2025, with a vote of 51-50, with Vice President JD Vance casting the tie-breaking vote. The House then passed the Senate version on July 3, 2025, with a vote of 218-214.

- *Provisions*:

- *Tax Policies*: Permanently extends the individual tax rates from the 2017 Tax Cuts and Jobs Act, raises the cap on state and local tax deduction to $40,000 for taxpayers making less than $500,000, and includes new tax deductions for tips and overtime pay.

- *Defense and Border Spending*: Includes $150 billion in new defense spending and another $150 billion for border enforcement and deportations, with increased funding for ICE from $10 billion to over $100 billion by 2029.

- *Healthcare*: Makes significant cuts to Medicaid spending, adds new work requirements for some Medicaid recipients, and creates a $50 billion fund for rural hospitals.

- *Immigration*: Establishes a $100 annual fee to apply for asylum, increases fees for non-immigrant visas to $250, and phases out clean energy tax credits.

- *Impact*: Estimated to add roughly $3 trillion to the national debt and cut approximately $4.46 trillion in tax revenue over a 10-year period, with potential implications for healthcare coverage and economic policy.

- *Controversy*: Faces criticism from various groups, including Democrats and some Republicans, with concerns about its impact on the national debt, healthcare coverage, and immigration policies.