The "One Big Beautiful Bill Act" is a sweeping US legislative package. Its key elements include:

• Permanent Tax Cuts: Making Trump's 2017 individual tax cuts permanent, plus new cuts (e.g., no tax on tips/overtime).
• Spending Cuts/Welfare Reform: Major cuts to Medicaid and SNAP, imposing stricter work requirements.
• Border Security: Increased funding for the border wall and personnel.
• Rollback of Green Energy Credits: Repealing or reducing clean energy tax credits from the Biden administration.

Critics, including Elon Musk, argue it significantly increases the national debt and shifts wealth to the rich, while supporters claim it boosts economic growth and reduces spending. It narrowly passed the House and now heads to the Senate.

- Generated by AI