06
Jun
Washington DC (National Times): The One Big Beautiful Bill Act (OBBBA), passed by the U.S. House of Representatives on May 22, 2025, with a 215-214-1 vote, is a comprehensive budget reconciliation package designed to overhaul the U.S. tax code, social programs, and federal spending priorities. Championed by President Donald Trump and House Speaker Mike Johnson, the bill extends the 2017 Tax Cuts and Jobs Act (TCJA) and introduces new tax breaks, spending cuts, and policy changes. Key provisions include: Tax Reforms: Permanently extends TCJA provisions (e.g., tax brackets, doubled standard deduction), eliminates taxes on tips and overtime pay through 2028,…
