The One Big Beautiful Bill Act (OBBBA), passed with slim majorities in Congress and signed into law by President Trump on July 4, 2025, represents a sweeping reform of U.S. tax policy. The OBBBA builds on the 2017 Tax Cuts and Jobs Act (TCJA) while introducing new provisions. This article provides a focused summary of the OBBBA’s changes to estate and income tax laws, highlighting their impact on taxpayers and planning considerations.