The One Big Beautiful Bill, signed into law by President Donald Trump on July 4, 2025, introduces extensive tax reforms aimed at benefiting families, small businesses, farmers, workers, and seniors. The legislation includes an increased 199A Qualified Business Income deduction, which will help 63,780 small businesses in certain districts retain more of their earnings. It also raises the child tax credit to $2,200, indexes it to inflation, and makes it permanent to support families with young children. The bill is designed to stimulate economic growth by cutting wasteful spending, expanding workforce opportunities, and providing stability for agricultural producers by protecting small business tax deductions. Additionally, it addresses border security by restoring order at the southern border. Congressional leaders and representatives emphasize that the bill puts more money into the pockets of working-class Americans and helps prepare the workforce for a 21st-century economy.