#BTCWhaleMovement was enacted in the TCJA Law of 2017 and was set to expire, now made permanent. The bill also provides new tax provisions and makes adjustments to existing provisions.

Key provisions of the OBBBA Law:

* For individuals: The law solidifies the lower individual income tax rates and the increased standard deduction introduced in the TCJA. It also addresses the cap on the deduction for state and local taxes (SALT), which was a point of contention in the original law, by increasing the limit for many taxpayers. Other provisions include the enhancement of the child tax credit and new deductions aimed at providing relief to certain categories of taxpayers.

* For businesses: The OBBBA Law makes the 20% deduction for qualified business income for pass-through entities permanent. It also includes provisions allowing for immediate expensing of the costs of purchasing new and used equipment, a measure designed to stimulate business investment.