The One Big Beautiful Bill Act is 1 year old. Here are the winners and losers.

Key Points:

• The "One Big Beautiful Bill Act" (OBBBA), signed by President Trump in July 2025, lowered taxes for millions while funding these cuts by reducing spending on programs like Medicaid and SNAP, leading to mixed impacts across different groups.
• High-income households and corporations are major beneficiaries, with permanent tax cuts, increased deductions, and expanded depreciation rules benefiting the wealthiest 1-2% and large profitable companies such as Amazon and Tesla.
• Working-class Americans, including tipped and overtime workers, seniors, and families saving for children through new "Trump Accounts," have received targeted tax relief and new investment opportunities under the law.
• SNAP recipients and retailers dependent on SNAP sales face losses due to stricter work requirements and benefit reductions, resulting in a 10% drop in SNAP participation and potential negative effects on small businesses and families.
• Clean energy sectors, including electric vehicle and renewable energy businesses, lost federal tax incentives as the OBBBA ended or accelerated phaseouts of various clean energy credits, potentially slowing growth in these industries.