President Trump signs H.R. 1, the “One Big Beautiful Bill Act”
President Donald J. Trump on July 4 signed into law H.R. 1, the “One Big Beautiful Bill Act.”

President Donald J. Trump on July 4 signed into law H.R. 1, the “One Big Beautiful Bill Act.” H.R. 1 contains significant tax law changes with various effective dates affecting individual and business taxpayers, including some provisions with effective dates tied to the bill’s July 4 date of enactment.
Prepare for what is next:
President Donald J. Trump on July 4 signed into law H.R. 1, the “One Big Beautiful Bill Act.”
The House of Representatives passed the “One Big Beautiful Bill Act” (H.R. 1) with a narrow vote, following Senate approval.
An overview of the Senate-passed version of H.R. 1, which was approved by the Senate, following a narrow vote.
Explore how Tax Leaders are responding to policy shifts, tariffs, and economic risk under the new administration in PwC’s latest Pulse Survey.
Stay ahead of the latest tax developments and gain valuable insights to proactively shape your tax strategy.
Learn how the new administration will shape tax, trade, AI, cybersecurity and more. Stay ahead with insights on what policy changes mean for business.
A key challenge for business leaders this year will be to engage with policymakers and build public support for tax and trade policies that promote economic growth, business investment and job creation. Explore our dynamic list of priority areas below.
On May 12, 2025, House Ways and Means Committee Chairman Jason Smith introduced a revised tax bill comprising 389 pages for committee review.
Learn how the new administration will shape tax, trade, AI, cybersecurity and more. Stay ahead with insights on what policy changes mean for business.