The One Big Beautiful Bill Act (OBBBA) was enacted into law on July 4, 2025. Many of the items included in the final legislation were a “make permanent” of items which had been previously included in the Tax Cuts and Jobs Act of 2017 during the first Trump presidential term, and which were set to expire (or “sunset”) at the end of this year. However, this new legislation both expands on some of the provisions in the 2017 Act as well as creates new tax incentives.