AmberPosts1000 (@AmberPosts1000)

I LOVE OBBA! (Also link to my gab group) https://gab.com/groups/87325 The One Big Beautiful Bill Act (OBBA) is a sweeping federal tax and spending law signed into law on July 4, 2025. It acts as a massive overhaul of the US tax code by permanently extending the 2017 Tax Cuts and Jobs Act (TCJA) and introducing new deductions. Individual & Worker Provisions Tax Rates & Brackets: Permanently locks in lower individual tax brackets (with the highest marginal bracket remaining at 37%). Standard Deduction: Extended and elevated (e.g., $31,500 for married filing jointly). Taxpayers 65 and older get an additional $6,000 deduction. Estate Tax: Eliminated the sunset originally planned for 2026, raising the individual exemption to $15 million (indexed for inflation). Overtime & Tips: Allows individuals to take a temporary tax deduction on up to $12,500 (single) or $25,000 (joint) in overtime pay. Employer & Business Impacts Childcare Credits: Expands dependent care flexible spending accounts (FSAs) and employer-provided childcare credits. Prohibited Foreign Entities (PFE): Ineligibility for certain energy tax credits for companies utilizing restricted material assistance. Immigration & Border Funding Funding: Increases Immigration and Customs Enforcement (ICE) funding significantly by 2029. Access to Benefits: Restricts access to specific healthcare, nutrition, and tax benefits for non-citizens and some of their family members.