#OneBigBeautifulBill The One Big Beautiful Bill: A Comprehensive Overview 🤯📊
The One Big Beautiful Bill Act is a proposed budget reconciliation bill in the 119th United States Congress 📚👑. Introduced by Representative Jodey Arrington, the bill aims to make significant changes to the US tax code and government spending 📈💸. After passing the House of Representatives on May 22, 2025, with a narrow 215-214 vote, the bill moved to the Senate, where it was amended and passed on July 1, 2025, with a 51-50 vote, thanks to Vice President JD Vance's tiebreaking vote 🤝👊.
*Key Provisions of the Bill*
- *Tax Cuts*: The bill extends the major provisions of the 2017 Tax Cuts and Jobs Act, which are set to expire at the end of 2025. This includes increasing the state and local tax (SALT) deduction cap from $10,000 to $40,000 for taxpayers making less than $500,000 💸.
- *Defense Spending*: The bill allocates an additional $150 billion for defense spending, including funding for space exploration and missile defense systems 🚀💥.
- *Social Safety Net Programs*: The bill reduces non-military government spending and cuts spending on Medicaid and the Supplemental Nutrition Assistance Program (SNAP) through stricter eligibility requirements 🤕👴.
- *Energy and Environment*: The bill scales back many of the Inflation Reduction Act's clean-energy tax credits and promotes fossil fuel development 🌳💡.
*Impact of the Bill*
- *National Debt*: The Congressional Budget Office (CBO) estimates that the bill would add $2.8 trillion to the national debt over the next 10 years 📊📈.
- *Health Insurance Coverage*: The CBO also estimates that 10.9 million Americans would lose health insurance coverage due to the bill's provisions 🤕📊.
- *Economic Growth*: Proponents of the bill argue that it would boost economic growth and create jobs, while opponents argue that it would disproportionately benefit the wealthy and increase income inequality 🚀💸.
*Reactions to the Bill*
- *Support*: The bill has been supported by various organizations and companies, including AT&T, Comcast, and the National Retail Federation 📈👍.
- *Opposition*: Many Democrats and some Republicans have expressed opposition to the bill, citing concerns about its impact on the national debt, health insurance coverage, and low-income families 👎📊.
In conclusion, the One Big Beautiful Bill Act is a complex and multifaceted piece of legislation that has sparked intense debate in the US Congress 🤯👊. Its provisions and potential impact will continue to be scrutinized as it moves forward in the legislative process 🔮📚.