#OneBigBeautifulBill

The comprehensive bill "One Big Beautiful" by President Trump, signed on July 4, 2025, combines massive tax cuts with reforms in defense, borders, and entitlements. This law permanently extends the tax cuts of 2017, enhances child credits and overtime pay, and raises SALT thresholds - benefiting corporations and high-income earners - while reducing incentives for Medicaid, SNAP, and clean energy. The Congressional Budget Office estimates an increase in the deficit of $3.3 trillion over ten years, with around 11 million people losing health coverage. Critics - including Elon Musk and fiscal conservatives - warn of long-term debt risks and rising wealth disparities; while supporters praise economic growth, tax relief for the middle class, and enhanced national security.