The One Big Beautiful Bill Act, also referred to as OBBBA or OBBB, is a proposed budget reconciliation bill in the 119th United States Congress. It extends the major provisions of the 2017 Tax Cuts and Jobs Act, which are set to expire at the end of 2025, and includes reductions in government spending and increased requirements for various federal aid programs, such as the Supplemental Nutrition Assistance Program (SNAP) and Medicaid. It also allocates an additional $150 billion for defense spending, scales back many clean-energy tax credits from the Inflation Reduction Act, and increases the state and local tax (SALT) deduction from $10,000 to $40,000. In its current form, the bill is estimated to add several trillion dollars to the national debt of the United States. It also contains a number of other provisions, including a 10-year moratorium on state AI legislation and restrictions on the ability to hold federal officials in contempt for failure to comply with judicial orders.
In a rare and fiery interview on CBS Sunday Morning, Elon Musk breaks ranks with Donald Trump over the controversial "One Big..