One day after the House voted 218 to 214 3 to approve the Senate-passed reconciliation bill, on July 4th President Trump signed into law H.R. 1 the “One Big Beautiful Bill Act (OBBBA.)” As with any tax legislation, the devil is in the details. In addition to the summary below, we will have further updates concerning specific items such as effective dates for each provision, income limitations, and any detailed Treasury Regulations that may follow.
President Signs Sweeping Reconciliation Bill (OBBBA)
