#OneBigBeautifulBill The One Big Beautiful Bill (OBBBA) is a proposed budget reconciliation bill in the US Congress. Here are the key points about the bill ¹ ²:

- *Provisions*: The bill extends the 2017 Tax Cuts and Jobs Act, reduces non-military government spending, and cuts spending on Supplemental Nutrition Assistance Program (SNAP) and Medicaid.

- *Tax Changes*:

- *SALT Deduction Cap*: Raises the state and local tax deduction cap to $40,000 for households with incomes up to $500,000.

- *Child Tax Credit*: Increases the child tax credit to $2,500 through 2028 and $2,000 after that.

- *No Tax on Tips and Overtime*: Exempts tips and overtime pay from taxation.

- *Healthcare*:

- *Medicaid Work Requirements*: Introduces work requirements for Medicaid recipients.

- *Medicaid Cuts*: Reduces Medicaid funding and imposes stricter eligibility requirements.

- *Economic Impact*:

- *National Debt*: The Congressional Budget Office (CBO) estimates the bill would add $2.4 trillion to the national debt over 10 years.

- *Job Creation*: Proponents argue the bill would create millions of new jobs and stimulate economic growth.

- *Controversy*: Critics argue the bill would disproportionately benefit the wealthy and large corporations, while hurting low-income families and increasing income inequality.

- *Status*: The bill passed the House of Representatives on May 22, 2025, and is currently being debated in the Senate ³.