#OneBigBeautifulBill

The comprehensive "One Big Beautiful" bill by President Trump, signed on July 4, 2025, combines massive tax cuts with reforms in defense, borders, and entitlements. This law permanently extends the 2017 tax cuts, enhances child deductions and overtime pay, and raises SALT thresholds - benefiting businesses and high-income earners - while reducing incentives for Medicaid, SNAP, and clean energy. The Congressional Budget Office estimates a $3.3 trillion increase in the deficit over ten years, with about 11 million people losing health coverage. Critics - including Elon Musk and financial conservatives - warn of the risks of long-term debt and rising wealth; while supporters praise economic growth, tax relief for the middle class, and enhanced national security.