Lawmakers recently passed the One Big Beautiful Bill Act (OBBBA). The bill makes permanent individual rates from the 2017 tax cuts and extends key provisions related to business capital expenditures. What impact could the bill have? History shows that tax changes don’t always deliver consistent results, with outcomes dependent on the overall state of the economy. While some past tax cuts led to strong economic growth, others occurred during or immediately before an economic slowdown. The OBBBA may offer a modest, short-term boost to economic growth, but its long-term effect will depend on other factors, such as interest rates, business confidence, and consumer strength.