On July 1, 2025, the One Big Beautiful Bill Act, H.R.1 – 199th Congress (2025-2026) (the “Act”) was passed in the U.S. Senate (“Senate”). On July 3, 2025, it was passed in the U.S. House of Representatives (“House”) and presented to President Trump to be signed into law. On July 4, 2025, the President signed the Act into law.
I intend to present several installments on my blog featuring some of the most important tax provisions of the Act, allowing us to break down these provisions in detail. This first installment is a continuation of my coverage of the SALT deduction provision of the Act.