The "One Big Beautiful Bill Act": How It May Impact You
With a flurry of activity leading up to July 4, Congress passed a sweeping budget reconciliation bill – unofficially referred to as the “One Big Beautiful Bill Act” (OBBBA) – that tackled two main goals for the current administration: extending tax breaks from the 2017 Tax Cuts and Jobs Act (TCJA) and delivering on many of President Trump’s 2024 campaign promises. This legislation brings long-awaited clarity to the tax code, and introduces new planning opportunities.
