
Created: Friday, July 11, 2025
The One Big Beautiful Bill: A New Chapter in U.S. Tax Policy
On July 4, 2025, President Donald Trump signed into law the One Big Beautiful Bill Act, a sweeping piece of legislation that reshapes the American tax code. At its core, the bill makes permanent many of the tax cuts originally enacted in the 2017 Tax Cuts and Jobs Act (TCJA). However, the bill also makes significant tax reform that affects individuals, businesses, and estates. Here we provide a summary of developments for taxpayers to consider.