In a move that will define the second term of the Trump administration, the “One Big Beautiful Bill Act” (OBBBA) was signed into law on July 4, 2025, after a grueling, party-line battle in Congress. This colossal, nearly 900-page tax and spending package is not merely an adjustment of prior policy but a fundamental realignment of the nation’s fiscal priorities. It codifies a new governing philosophy that champions permanent tax reductions for corporations and individuals, alongside a historic expansion of national security, partially financed through unprecedented cuts to the U.S. social safety net.