#OneBigBeautifulBill

The One Big Beautiful Bill Act (OBBBA) is a budget reconciliation law passed by the 119th United States Congress, signed into law by President Donald Trump on July 4, 2025. This law contains tax and spending policies that form the core of Trump's second-term agenda.

*Key Provisions:*

- *Tax Changes*: Permanently extends individual tax rates introduced in 2017, raises the state and local tax deduction cap to $40,000 for taxpayers earning under $500,000, and offers temporary tax deductions for tips, overtime pay, and auto loans.

- *Border Security and Immigration*: Allocates $150 billion for border enforcement and deportations, increases funding for ICE from $10 billion to over $100 billion by 2029, and establishes fees for asylum applications and non-immigrant visas.

- *Healthcare*: Cuts Medicaid and Medicare spending, expands work requirements for food stamp recipients, and establishes a $50 billion Rural Hospital Fund to support healthcare providers in rural areas.

- *Energy and Environment*: Favors fossil fuel companies over renewable energy, potentially leading to clean energy job losses and increased carbon emissions.

*Impact:*

- Estimated to add $3 trillion to the national debt and increase the budget deficit by $2.8 trillion by 2034.

- Projected to cause 10.9 million Americans to lose health insurance coverage.

- Critics argue it creates the largest upward transfer of wealth from the poor to the rich in American history ¹ ².