President Donald Trump came under immense pressure

President Donald Trump signed the One Big Beautiful Bill Act (OBBB) into law. Under OBBB, tax reductions worth trillions that were scheduled to expire in 2025 will now remain in place permanently.

It also adds new breaks, including tax-free overtime pay and an extra deduction for seniors. According to the Congressional Budget Office, the measure is expected to raise federal deficits by $3.4 trillion over the next decade.