#OneBigBeautifulBill

The "One Big Beautiful Bill" is a sweeping legislative package championed by President Donald Trump, aimed at advancing his agenda through a combination of tax cuts, spending reforms, and policy changes. Here's a breakdown of the bill's key components:

*Tax Cuts and Credits*

- Permanently extends the 2017 Trump tax cuts, shielding average taxpayers from a 22% tax increase

- Eliminates taxes on tips and overtime pay, benefiting service industry employees

- Introduces a 15% tax cut for Americans, with potential savings of up to $13,300 for families

- Increases the child tax credit to $2,500 per child, supporting over 40 million families

- Raises the state and local tax (SALT) deduction cap to $40,000 for joint filers

*Spending Reforms and Border Security*

- Allocates $350 billion for comprehensive border security improvements, including ¹ ² ³:

- Physical barrier construction and maintenance

- Advanced surveillance technology deployment

- Additional Border Patrol agents and equipment

- Immigration court system expansion

- Detention facility improvements

- Increases defense spending by $150 billion, with a focus on advanced defense systems and strategic competition

*Social Program Changes*

- Cuts $1.2 trillion from social programs like Medicaid and food stamps, imposing stricter work requirements and eligibility checks

- Introduces "Trump Savings Accounts" with a $1,000 government deposit for newborns, incentivizing family growth

- Enhances work requirements for Medicaid recipients, with exemptions for certain groups

*Economic Impact*

- Projected to add $2.4 trillion to $4.5 trillion to the federal deficit over 10 years

- Estimated to generate nearly $1 trillion in additional economic growth and create 1 million small business jobs

- Potential to increase average take-home pay by up to $10,900 annually ⁴ ³

The bill's future remains uncertain as it faces scrutiny in the Senate, with lawmakers debating modifications and potential changes to the legislation ⁵.