TheAtk
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#OneBigBeautifulBill The One Big Beautiful Bill Act is now law in the United States following its official signing by President Trump on July 4, 2025. This mega legislative project, spanning over 800 pages, combines massive tax cuts, deep social reforms, and a significant increase in spending on national security and border infrastructure.
Among its most notable measures are:
– Tax cuts of $4.5 trillion, including the elimination of taxes on tips, overtime, and auto loans
– Increase of the child tax credit from $2,000 to $2,200
– Creation of Trump Accounts, savings accounts for newborns with up to $1,000 deposited
– $350 billion for national security and migration, including the hiring of 10,000 new ICE agents
– $25 billion for the Golden Dome missile defense system
– Funds for the Artemis program for lunar and Martian exploration
– Increase of the national debt ceiling by $5 trillion
However, the law also imposes severe cuts to social programs. It is estimated that nearly 12 million people could lose their Medicaid coverage, and more than 3 million would lose access to food stamps. Additionally, mandatory work requirements of 80 hours per month are introduced for adults up to 65 years old, including parents with children over 14.
The projected fiscal impact is significant: the Congressional Budget Office estimates that the law will add between $2.4 and $3.4 trillion to the deficit over the next decade. Despite the criticism, Trump has called the law the largest tax cut in the country's history and a decisive boost for the American economy.
The One Big Beautiful Bill redefines the balance between social spending, tax collection, and national security, marking a profound shift in the economic policy of the United States.
Among its most notable measures are:
– Tax cuts of $4.5 trillion, including the elimination of taxes on tips, overtime, and auto loans
– Increase of the child tax credit from $2,000 to $2,200
– Creation of Trump Accounts, savings accounts for newborns with up to $1,000 deposited
– $350 billion for national security and migration, including the hiring of 10,000 new ICE agents
– $25 billion for the Golden Dome missile defense system
– Funds for the Artemis program for lunar and Martian exploration
– Increase of the national debt ceiling by $5 trillion
However, the law also imposes severe cuts to social programs. It is estimated that nearly 12 million people could lose their Medicaid coverage, and more than 3 million would lose access to food stamps. Additionally, mandatory work requirements of 80 hours per month are introduced for adults up to 65 years old, including parents with children over 14.
The projected fiscal impact is significant: the Congressional Budget Office estimates that the law will add between $2.4 and $3.4 trillion to the deficit over the next decade. Despite the criticism, Trump has called the law the largest tax cut in the country's history and a decisive boost for the American economy.
The One Big Beautiful Bill redefines the balance between social spending, tax collection, and national security, marking a profound shift in the economic policy of the United States.
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