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Tuesday, Jul 01, 2025
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Trump's 'One Big Beautiful Bill' Faces Scrutiny as Senate Ramps Up Discussions
The proposed legislation could add $3.3 trillion to the U.S. national debt and significantly cut healthcare funding for millions.
The U.S. Senate has commenced a series of marathon discussions and votes regarding President Donald Trump's massive legislative package, informally dubbed the "One Big Beautiful Bill." Senate Republicans are under substantial pressure from the President to pass the bill by Wednesday, allowing for a final vote in the House before Trump aims to sign it on July 4, coinciding with Independence Day celebrations.
The proposed legislation includes significant tax cuts primarily benefiting affluent individuals and corporations, alongside substantial cuts to the Medicaid program, which may result in approximately 12 million Americans losing their health insurance.
The non-partisan Congressional Budget Office (CBO) estimates that the bill would add $3.3 trillion to the national debt.
Currently, over 70 million Americans rely on Medicaid, a government healthcare program that has expanded its coverage since its inception in 1965.
The proposed cuts are among the largest seen in the program's history.
During his campaign, Trump assured voters that he would not make cuts to Medicaid, a program that is critical for many of his supporters.
Additionally, the legislation proposes a significant reduction in funding for food stamp programs for families living below the poverty line, with expected cuts of 18 percent for Medicaid and 20 percent for the Supplemental Nutrition Assistance Program (SNAP).
The bill's tax cuts would prolong the reductions implemented in 2017, including lower income tax brackets, increased standard deductions, and larger child tax credits.
New tax benefits would be provided for income from tips, overtime pay, and auto loans.
Most of these new tax advantages are set to expire in 2028, ahead of the next presidential elections.
One of the significant beneficiaries of the proposed legislation would be the Immigration and Customs Enforcement agency (ICE), which is slated to receive nearly $80 billion, positioning it to become the largest federal agency involved in domestic affairs by 2029.
Meanwhile, the bill would effectively terminate all federal support for wind and solar energy, while new subsidies would be introduced for coal plants used in steel production.
In recent days, Trump has been publicly exerting pressure on several Republican senators who have indicated opposition to the bill due to the deep cuts to Medicaid.
As of yesterday, it appears that Trump has succeeded in garnering support from at least 51 Republicans.
Among the clear opponents is Senator Thom Tillis of North Carolina, who has faced backlash from Trump and announced he would not seek re-election, a decision that Trump publicly celebrated.
Another prominent critic is Elon Musk, who cited this legislation as a reason for leaving his government position.
Musk characterized the bill as "absolutely insane and destructive," particularly criticizing its detrimental impact on solar energy projects, electric batteries, wind energy, and nuclear power.
He stated that the bill would "destroy millions of jobs in America and cause us tremendous strategic harm," suggesting it favors outdated industries at the expense of future-oriented ones.
The proposed legislation includes significant tax cuts primarily benefiting affluent individuals and corporations, alongside substantial cuts to the Medicaid program, which may result in approximately 12 million Americans losing their health insurance.
The non-partisan Congressional Budget Office (CBO) estimates that the bill would add $3.3 trillion to the national debt.
Currently, over 70 million Americans rely on Medicaid, a government healthcare program that has expanded its coverage since its inception in 1965.
The proposed cuts are among the largest seen in the program's history.
During his campaign, Trump assured voters that he would not make cuts to Medicaid, a program that is critical for many of his supporters.
Additionally, the legislation proposes a significant reduction in funding for food stamp programs for families living below the poverty line, with expected cuts of 18 percent for Medicaid and 20 percent for the Supplemental Nutrition Assistance Program (SNAP).
The bill's tax cuts would prolong the reductions implemented in 2017, including lower income tax brackets, increased standard deductions, and larger child tax credits.
New tax benefits would be provided for income from tips, overtime pay, and auto loans.
Most of these new tax advantages are set to expire in 2028, ahead of the next presidential elections.
One of the significant beneficiaries of the proposed legislation would be the Immigration and Customs Enforcement agency (ICE), which is slated to receive nearly $80 billion, positioning it to become the largest federal agency involved in domestic affairs by 2029.
Meanwhile, the bill would effectively terminate all federal support for wind and solar energy, while new subsidies would be introduced for coal plants used in steel production.
In recent days, Trump has been publicly exerting pressure on several Republican senators who have indicated opposition to the bill due to the deep cuts to Medicaid.
As of yesterday, it appears that Trump has succeeded in garnering support from at least 51 Republicans.
Among the clear opponents is Senator Thom Tillis of North Carolina, who has faced backlash from Trump and announced he would not seek re-election, a decision that Trump publicly celebrated.
Another prominent critic is Elon Musk, who cited this legislation as a reason for leaving his government position.
Musk characterized the bill as "absolutely insane and destructive," particularly criticizing its detrimental impact on solar energy projects, electric batteries, wind energy, and nuclear power.
He stated that the bill would "destroy millions of jobs in America and cause us tremendous strategic harm," suggesting it favors outdated industries at the expense of future-oriented ones.
