Why Is Everyone Excited About This New Bill?

In this episode of the Respect My Blueprint show, we break down the newly signed “One Big Beautiful Bill” (BBL), passed on July 4th under President Trump. This isn’t the BBL you’re thinking of — this one is about your money and your future. The bill locks in the 2017 tax cuts, permanently lowering tax brackets for many earners. It also reduces funding for social safety net programs, which could significantly impact low-income individuals. At the same time, it increases funding for national defense and border security, signaling a shift in federal priorities. Another major change includes modifications to the cap on state and local tax (SALT) deductions, which could benefit some taxpayers while disadvantaging others. In this episode, we unpack how these legislative changes could affect your finances — whether you're in the middle class or upper-income bracket — and what it means for the broader economic landscape.