#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. It was signed into law by President Donald Trump on July 4, 2025. This law contains significant tax and spending policies, forming the core of President Trump's second-term agenda.

*Key Provisions:*

- *Tax Cuts:* Makes permanent the lower tax brackets with revised income thresholds established by the Tax Cuts and Jobs Act (TCJA)

- *No Tax on Overtime Pay:* Above-the-line deduction for overtime income (up to $160,000, inflation-adjusted) through 2028

- *Car Loan Interest Deduction:* Deduction up to $10,000 for interest on U.S.-made vehicle loans (2025-2028), phases out above $100,000/$200,000 income

- *Expanded Child Tax Credit:* Increases CTC to $2,500 per child (2025-2028), then $2,000 with inflation adjustments, requires work-eligible SSNs

- *Funding Allocations:*

- $50 billion Rural Hospital Fund to support healthcare providers in rural areas

- $23 billion in funding for the U.S. Coast Guard

- $12 billion in air traffic control funding

- $10 billion for NASA, including $700 million for a Mars Telecommunications Orbiter

The bill passed the House of Representatives on May 22, 2025, with a narrow vote of 215-1. It then passed the Senate on July 1, 2025, with Vice President JD Vance casting a tie-breaking vote in support of the bill. The bill was signed into law by President Trump on July 4, 2025 ¹.