Disentangling economic implications of ‘One Big Beautiful Bill’

Doha: The One Big Beautiful Bill (OBBB) will stand in history as one of the most impactful and disruptive initiatives of the second Trump Presidency....

Doha: The One Big Beautiful Bill (OBBB) will stand in history as one of the most impactful and disruptive initiatives of the second Trump Presidency.

Spanning close to 900 pages, it took shape after months of  gruesome negotiations and political maneuvering in Congress.

It finally passed by narrow margins in the Senate and House, with 51-50 and 218-214 votes respectively, before President Trump signed it into law on July 4th, the US Independence Day, QNB said in its economic commentary.

At its core, the bill enacts significant changes to the US tax code, extending and expanding tax cuts for high income individuals and corporations, while scaling back funding for safety-net programs, and re-defining spending priorities.

The reforms sparked intense debates over its distributional impact and long-term sustainability.