#OneBigBeautifulBill The One Big Beautiful Bill Act, also known as OBBBA or BBB, is a budget reconciliation law passed by the 119th United States Congress and signed into law by President Donald Trump on July 4, 2025. This law contains tax and spending policies that form the core of President Trump's second-term agenda.
*Key Provisions:*
- *Tax Reforms*: Permanently extends the individual tax rates Trump signed into law in 2017, which were originally set to expire at the end of 2025. It also raises the cap on state and local tax deductions to $40,000 for taxpayers making less than $500,000.
- *Spending Adjustments*: Includes $150 billion in new defense spending and another $150 billion for border enforcement and deportations. It increases funding for ICE from $10 billion to over $100 billion by 2029.
- *Medicaid and Medicare*: Makes significant cuts to Medicaid and Medicare spending, with the Congressional Budget Office (CBO) estimating that 10.9 million Americans will lose health insurance coverage.
- *Energy Policy*: Promotes fossil fuels over renewable energy, potentially leading to large clean energy job losses and ceding the clean energy race to China.
*Impact:*
- The CBO estimates that the bill will increase the budget deficit by $2.8 trillion by 2034.
- Experts argue that the bill would create the largest upward transfer of wealth from the poor to the rich in American history, with some nicknaming it the "Reverse Robin Hood Bill".
- Senate Minority Leader Chuck Schumer mockingly called the bill the "We're All Going to Die Act" ¹ ².
*Reception:*
- Supporters argue that the bill is a responsible path to balancing the budget, encouraging job creation, and reducing government waste.
- Opponents criticize the bill's harsh cuts to Medicaid and its regressive tax structure ³.$Tramp