Since the past few weeks, we’ve all been watching the whirlwind around President Trump’s ambitious “One Big Beautiful Bill” (OBBB), a sweeping $3.4 trillion fiscal package designed to rewrite tax policy, shake up entitlement spendi...
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What’s Really Inside Trump’s Sweeping New Tax-and-Spending Bill
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Subscribe04 JUL 2025 / ACCOUNTING & TAXES
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President Trump's "One Big Beautiful Bill" (OBBB), a $3.4 trillion fiscal package intended to reform tax policy and shake up entitlement spending, was passed by the House, and is now headed to the White House for signing. The sweeping changes of this Act that extends and enhances principles from Trump's 2017 Tax Cuts and Jobs Act, has implications for tax and accounting professionals, Wall Street, rural hospitals, college financial aid offices, and carries a significant future debt risk, estimated to rise over ten years to about 7.5 times the money taken in, 130% of GDP, and $425,000 per family.
Since the past few weeks, we’ve all been watching the whirlwind around President Trump’s ambitious “One Big Beautiful Bill” (OBBB), a sweeping $3.4 trillion fiscal package designed to rewrite tax policy, shake up entitlement spendi...
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