One Big Beautiful Bill Act
A term to know.
The One Big Beautiful Bill Act (H.R. 1 in the 119th Congress) is a comprehensive tax bill signed into law by President Trump on July 4, 2025. It represents one of the most sweeping overhauls of the U.S. tax code in recent decades since the Tax Cuts and Jobs Act of 2017. It restructures individual and corporate tax rates, limits high-income deductions, tightens rules on charitable giving and estate planning, and expands IRS enforcement to increase compliance and federal revenue.
Synonyms:
Pub. L. 119-21, H.R. 1-119, One Big Beautiful Bill, OBBB, BBB
Synonyms list
(a comma-separated list)
Pub. L. 119-21, H.R. 1-119, One Big Beautiful Bill, OBBB, BBB