US Edition
Tax Breaks: The Sorting Out The One Big Beautiful Bill Act Edition
UNITED STATES, JUL 11 – The bill makes Opportunity Zones permanent with enhanced tax incentives for rural areas and expanded reporting, building on over $100 billion in prior investments, officials said.
- On July 4, 2025, President Donald Trump officially enacted a major legislative package at the White House that secured key components of his second-term policy goals.
- The OBBBA makes Opportunity Zones a permanent part of economic policy and establishes a 10-year redesignation cycle starting July 1, 2026, amid tighter eligibility criteria reducing designated areas by about 19.5 percent.
- The bill streamlines OZ tax benefits, enhances rural incentives, mandates new reporting and transparency, and introduces deductions for seniors, overtime pay, tips, and auto loan interest.
- The OBBBA enacts $4.5 trillion in tax relief measures over ten years, raises the SALT deduction cap to $40,000 beginning in 2025, reduces Medicaid and SNAP spending by $1.2 trillion, and increases defense funding by $300 billion.
- The law's permanence and improved transparency aim to support OZ investments but leave long-term effects on poverty, income, and employment unclear while sparking debate over costs and benefits.
13 Articles
13 Articles
Daily Montanan
Big Beautiful Bill Act to decrease income tax revenue for Montana
Photo illustration by Getty Images.The federal One Big Beautiful Bill Act will have an arguably big impact on the state of Montana — a decrease of an estimated $114.2 million in revenue based on income tax changes alone, according to the Legislative Fiscal Division. “That’s a significant amount of money,” said Sen. Greg Hertz, a Polson Republican and outgoing chairman of the Revenue Interim Committee. The Revenue Interim Committee heard the esti…
Need a new stove but can't foot the bill? Here's how to get $840 in government rebates for a next-gen model
It's extremely difficult to purchase affordable appliances from premium brands that save money in the long run while also reducing energy costs. The good news is that despite the passage of the One Big Beautiful Bill Act (OBBBA), the Home Electrification and Appliance Rebates (HEAR) program (a program within the Inflation Reduction Act) remains intact, for now. This means consumers can still take advantage of up to $840 in government rebates t…
On July 4, 2025, President Trump signed the law known as "One Big Beautiful Bill Act," which will reform the federal student loan system in the United States. According to the original report, this legislation will reduce payment plan options to just two and limit the amounts individuals can borrow for their higher education.These measures will significantly impact millions of borrowers in the country.Redefined Payment OptionsWith the new law, f…
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