Trump’s ‘Big Beautiful Bill’: Good for billionaires, bad for workers and immigrants
San José, CA – On Friday, July 4, President Trump signed his “Big Beautiful Bill” of tax cuts for the wealthy, cuts to health insurance and food stamps for the poor, and more attacks on immigrants.
The tax cuts are so large that, despite historic cuts to Medicaid and SNAP (Supplemental Nutrition Assistance Program, commonly known as food stamps), the federal government will be borrowing more than $300 billion more each year for the next ten years.
The new law cuts taxes about $450 billion a year over the next ten years, mainly benefiting higher income households. Using adjusted gross income, we can see the richer a household, the more money Trump and the Republicans’ new law gives to them.