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Trumps's Big Beautiful Bill will increase federal spending, slash Medicaid and other benefits for the poor, and give tax cuts to the rich - May 22, 2025
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Economy
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Despite a "Fact Check" by the White House that "The Trump Administration will not cut Social Security, Medicare, or Medicaid benefits", the GOP's "Big Beautiful Bill" is estimated to cut $698 billion in Medicaid. It also reduces SNAP food assistance by $267 billion.
The bill extends corporate and individual cuts that disproportionately benefit the wealthy, which is why the bill is estimated to add $3.8 trillion to the national debt.
Overall, the bill represents a 2% loss for poor families and a 4% gain for wealthy families.
Hypocritically opposite DOGE's aggressive attack on government spending, the bill will also increase federal spending and raise the debt ceiling.