The recently passed Republican budget bill, dubbed the “One Big Beautiful Bill Act” by President Donald Trump, has sparked significant controversy due to its drastic redistribution of wealth and extensive cuts to welfare programs. According to the Congressional Budget Office (CBO), the bill will result in a 4% decrease in household resources for the poorest 10% of Americans, while the richest 10% will see a 2% increase. The bill is expected to add $3.8 trillion to the deficit over the next decade. The bill’s provisions include massive cuts to Medicaid, the Affordable Care Act, and the Supplemental Nutrition Assistance Program (SNAP), which will result in millions of Americans losing their health care coverage and food assistance. Additionally, the bill cuts funding for student loan aid plans and environmental investments, while funneling $150 billion to the Pentagon and increasing funding for Trump’s mass deportation agenda. At the heart of the bill is a significant tax cut for corporations and the wealthy, including an extension of the 2017 Tax Cuts and Jobs Act. Research indicates that the richest Americans will gain tens of thousands of dollars in tax savings each year, while the bottom 20% of Americans will see their taxes increase. This bill is expected to exacerbate the existing wealth gap, with U.S. billionaires having already doubled their wealth to a collective $5.8 trillion since the 2017 Tax Cuts and Jobs Act. The bill has faced strong opposition from various groups, including the AFL-CIO, which has labeled it the “worst job-killing bill in American history.” Critics argue that the bill will cause significant harm to the economy and the well-being of U.S. families, with the harshest impacts being felt by low-income Americans and people in rural communities, who have already started to experience hospital closures. Despite the bill’s passage, its most severe provisions are strategically delayed until after the 2026 midterm elections, making it harder for voters to hold politicians accountable.
