Big Beautiful Bill paves away for major structural reforms: QNB

Doha: QNB said that the One Big, Beautiful Bill (OBBB) act could be a pivotal piece of legislation that lays the groundwork for wide ranging tax measu...

Doha: QNB said that the One Big, Beautiful Bill (OBBB) act could be a pivotal piece of legislation that lays the groundwork for wide-ranging tax measures, spending programs, and structural reforms with long-term economic implications for the United States.

In its weekly report, QNB noted that while the bill provides a strong boost to the US economy, it comes at the cost of accelerating the debt trajectory and bringing about significant shifts in income distribution.

According to the report, QNB said that history will remember the OBBB as one of the most impactful and transformative initiatives of President Trump’s second term.

The nearly 900-page bill was the result of months of tough negotiations and political maneuvering in Congress, eventually passing by narrow margins (51 to 50 in the Senate and 218 to 214 in the House) before being signed into law by President Trump on Jul. 4, US Independence Day.

The note said that the law introduces major changes to the US tax code in the form of expanding tax cuts for high-income individuals and corporations, reducing funding for social safety net programs, and reprioritizing spending.