Tax and spending legislation

One Big Beautiful Bill Act

• Changes individual and business taxes: The law makes many 2017 tax changes permanent and creates deductions for qualified tips, overtime pay, and some passenger-vehicle loan interest through 2028. It also changes business tax rules and ends or limits several clean-energy tax credits
• Revises Medicaid and health rules: The law changes Medicaid eligibility checks, enrollment and renewal rules, state financing, and cost sharing, including new work or community-engagement requirements for some expansion enrollees. It also creates a rural health program funded at $10 billion per fiscal year for FY2026-FY2030
• Changes SNAP benefits and state costs: The law changes SNAP work requirements and benefit calculations, restricts eligibility for some noncitizens, and ends SNAP-Ed funding. Starting in FY2028, states must contribute toward benefit costs at rates tied to their payment error rates, and their share of SNAP administrative costs rises beginning in FY2027

1. Introduced
2. In committee
3. Reported
4. Passed House
5. Passed Senate
6. Law

What’s next: Became law on Jul 4.