The "One Big Beautiful Bill": An Examination of Its Provisions, Undertones, and Controversies

At its core, the bill seeks to make permanent the individual and corporate tax cuts enacted in 2017, which are otherwise set to expire. Proponents, including the White House, argue that this extension is crucial for maintaining economic growth and preventing a massive tax hike on American families and businesses. They contend that the bill, coupled with other administration policies, will lead to a significant reduction in the federal deficit, with some estimates claiming savings of $1.4 trillion to as much as $6.7 trillion over the next decade. These projections often rely on a baseline that assumes the TCJA extension is fiscally neutral, a point of major contention.


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