TraderKKS
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#OneBigBeautifulBill One Big Beautiful Bill 2025
Overview
The One Big Beautiful Bill Act (OBBBA), often called the "Big Beautiful Bill," is a sweeping U.S. federal law signed by President Donald Trump on July 4, 2025. This 887-page legislation is one of the most significant policy packages in recent history, impacting taxes, government spending, healthcare, energy, immigration, and more123.
Key Provisions
Tax Policy
Permanent Extension of 2017 Tax Cuts: The law makes permanent the individual tax rates and brackets from the 2017 Tax Cuts and Jobs Act, which were originally set to expire at the end of 202512.
Standard Deduction: For 2025, the standard deduction is $15,000 for singles and $30,000 for married couples2.
State and Local Tax Deduction: The cap is raised to $40,000 for taxpayers earning less than $500,000, reverting to $10,000 after five years1.
No Tax on Tips, Overtime, or Social Security: These forms of income are now exempt from federal income tax4.
Child Tax Credit: Permanently increased by $200, benefiting more than 40 million families14.
Trump Accounts: New tax-deferred savings accounts for children, available to all American newborns14.
Other Deductions: New or expanded deductions for auto loan interest (on Made in America vehicles), tips, and overtime pay14.
Charitable Giving: Introduction of a charitable deduction for non-itemizers, and some changes that may reduce the value of deductions for high-income donors5.
Spending and Deficit
$12.9 Trillion in Tax Provisions: The bill's tax changes are projected to increase the federal deficit by $3.4 trillion over 10 years26.
Debt Ceiling: Raised by $5 trillion1.
Spending Cuts: $1.5 trillion in federal spending cuts, including a 12% reduction in Medicaid14.
Defense and Border Security: $150 billion in new defense spending and $150 billion for border enforcement and deportations14.
ICE Funding: Immigration and Customs Enforcement funding will rise from $10 billion to over $100 billion by 20291.
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Overview
The One Big Beautiful Bill Act (OBBBA), often called the "Big Beautiful Bill," is a sweeping U.S. federal law signed by President Donald Trump on July 4, 2025. This 887-page legislation is one of the most significant policy packages in recent history, impacting taxes, government spending, healthcare, energy, immigration, and more123.
Key Provisions
Tax Policy
Permanent Extension of 2017 Tax Cuts: The law makes permanent the individual tax rates and brackets from the 2017 Tax Cuts and Jobs Act, which were originally set to expire at the end of 202512.
Standard Deduction: For 2025, the standard deduction is $15,000 for singles and $30,000 for married couples2.
State and Local Tax Deduction: The cap is raised to $40,000 for taxpayers earning less than $500,000, reverting to $10,000 after five years1.
No Tax on Tips, Overtime, or Social Security: These forms of income are now exempt from federal income tax4.
Child Tax Credit: Permanently increased by $200, benefiting more than 40 million families14.
Trump Accounts: New tax-deferred savings accounts for children, available to all American newborns14.
Other Deductions: New or expanded deductions for auto loan interest (on Made in America vehicles), tips, and overtime pay14.
Charitable Giving: Introduction of a charitable deduction for non-itemizers, and some changes that may reduce the value of deductions for high-income donors5.
Spending and Deficit
$12.9 Trillion in Tax Provisions: The bill's tax changes are projected to increase the federal deficit by $3.4 trillion over 10 years26.
Debt Ceiling: Raised by $5 trillion1.
Spending Cuts: $1.5 trillion in federal spending cuts, including a 12% reduction in Medicaid14.
Defense and Border Security: $150 billion in new defense spending and $150 billion for border enforcement and deportations14.
ICE Funding: Immigration and Customs Enforcement funding will rise from $10 billion to over $100 billion by 20291.
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Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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