Part 3/11:
The "One Big Beautiful Bill Act" and the Largest Tax Reform in a Century
The most notable legislative initiative on the horizon is the so-called "One Big Beautiful Bill Act," which aims to implement comprehensive tax reform—arguably the most extensive in 100 years. This reform package introduces various adjustments designed to lower taxes for individuals and businesses, with the potential to boost the economy but also increase federal deficits.
While many welcome the tax cuts, critics warn that such measures may accelerate the federal deficit, which is already projected to grow by an estimated $3 trillion over the next decade due to decreased revenue and increased spending.