Why is it important?
The “One Big Beautiful Bill Act” project is a key element of Donald Trump's policy, which combines his tax promises with controversial changes in the social system. He assumes, among others Consolidation of tax cuts from 2017, but also a deep limitation of social programs such as Medicaid or SNAP. These changes can affect the lives of millions of Americans, and also significantly increase the budget deficit.
What does the act contain?
The project provides, among others exemption from taxes, overtime and social security benefits. At the same time, it introduces cuts in social programs, such as subsidies for health insurance or food vouchers. In addition, it increases the budget for migrant deportations and borders' security, and also raises defensive expenses by $ 150 billion once.
What did Donald Trump say about the act?
– This is a great act. There is something for everyone – said President Trump, expressing the belief that the project will easily pass through the House of Representatives. Trump also rejected analyzes indicating the negative effects of the act, claiming that social cuts will only affect “fraudsters” and “waste”.
What are the forecasts?
According to the Congress Budget Office (CBO), the Act will increase the deficit by $ 3.8 trillion. In 10 years, and almost 12 million Americans will lose health insurance. In turn, the analysis of Yale Budget Lab indicates that the changes will benefit the most, while the poorest will lose the most.
Does the act have a chance to accept?
Despite the Republican majority in the House of Representatives, the fate of the Act is not a foregone conclusion. The project raises opposition from both conservative “budget hawks” and centric republicans. In addition, the House Freedom Caucus group and billionaire Elon Musk openly criticize the law, pointing to its potential negative effects on the economy and society.
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