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Kiplinger
Kiplinger
Business
Kelley R. Taylor

Trump's ‘One Big, Beautiful Bill’ With Trillions in Tax Cuts: What to Know

Donald Trump United States Tax Cuts Lindsey Graham Mike Johnson Republican
The Capitol building in Washington, DC.

You may have heard that President Donald Trump’s sweeping new tax and spending package was signed into law on July 4, 2025.

Known as the "One Big Beautiful Bill" (OBBB), a label President Trump used repeatedly on social media as he called for a single border, spending, and tax package, the mega legislation is considered by Republicans to be the signature fiscal effort of Trump's second term.

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