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The One, Big, Beautiful Bill Act: What Business Owners Need to Know About Its Tax Provisions

The House narrowly passed the “One Big Beautiful Bill Act,” a sweeping tax and spending overhaul that revives Trump-era tax cuts, reshapes key credits and deductions, and slashes social safety nets. As the bill advances to the Senate, major provisions—like the SALT cap increase, R&D expensing, and cuts to Medicaid and SNAP—face intense scrutiny. Here’s what’s inside, and what could change next.
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