#OneBigBeautifulBill According to the most recent information, "One Big Beautiful Bill" is a comprehensive and far-reaching piece of legislation in the United States, which was just signed into law by President Donald Trump on July 4, 2025.

Here is a summary of what this bill entails, based on the available information:

Formal Name: It is formally known as the "One Big Beautiful Bill Act."

Nature and Main Content:

Tax Cuts: This is the central pillar. It makes permanent most of the tax cuts implemented during Trump’s first term (Tax Cuts and Jobs Act of 2017) and adds new tax deductions. It includes, for example, deductions for tips and overtime, a $6,000 deduction for seniors with incomes under $75,000, and an increase in the child tax credit to $2,200. It also restores full immediate expensing for businesses.