Our Washington, D.C. representative, TFG, released this Special Report providing an overview of the “One Big Beautiful Bill Act.” The report can be accessed HERE.

TFG’s Updated Special Report provides an overview of the GOP’s final version of the multi-trillion dollar budget reconciliation package, the “One Big Beautiful Bill Act” (H.R. 1) signed into law on July 4 by President Donald Trump. The report highlights provisions from the legislation and the timing of when the additions and changes will take effect.

As always, TFG’s report pays special attention to the local and community impact of legislation, including analysis of the following topics:

• SNAP
• Medicaid
• Rescissions to Inflation Reduction Act grants, loans, tax credits
• Opportunity Zones (OZs), Low-Income Housing Tax Credit (LIHTC) program, tax-exempt municipal bonds, New Markets Tax Credit (NMTC)
• Individual tax provisions
• State and Local Tax (SALT) deductions
• Modifications to tax credits for clean energy projects