The big tax and spending measure that is being negotiated in real time on Capitol Hill will have an impact on seniors, students, taxpayers, children, parents, low-income Americans, and pretty much everyone else.
Although there have been other drafts, Republicans refer to it as President Donald Trump’s “One Big Beautiful Bill Act.” On Tuesday, Vice President JD Vance broke the tie and helped the most recent bill pass the Senate.
The package enacted by the House in May is significantly different from the Senate Republicans’ version. In order to deliver the package to Trump’s desk by his preferred July 4th deadline, both houses will eventually need to approve the identical version.
The big tax and spending measure that is being negotiated in real time on Capitol Hill will have an impact on seniors, students, taxpayers, children, parents, low-income Americans, and pretty much everyone else.
Although there have been other drafts, Republicans refer to it as President Donald Trump’s “One Big Beautiful Bill Act.” On Tuesday, Vice President JD Vance broke the tie and helped the most recent bill pass the Senate.
The package enacted by the House in May is significantly different from the Senate Republicans’ version. In order to deliver the package to Trump’s desk by his preferred July 4th deadline, both houses will eventually need to approve the identical version.
The new work requirement would have the largest impact on many Medicaid beneficiaries. The Medicaid expansion would require some able-bodied Americans between the ages of 19 and 64 who are enrolled to work, volunteer, go to school, or take part in job training to complete at least 80 hours per month.
Parents of children who are 14 years of age or older would also be subject to the requirement. Additionally, expansion participants would pay up to $35 for specific care and have their eligibility assessed more frequently.
Overall, because states will get less federal funds for Medicaid, participants may experience additional adjustments. Among other changes, this might compel some governments to tighten enrollment or remove specific benefits.
DO YOU KNOW…
… that Trump’s ‘One Big Beautiful Bill’ is a full-on assault???The bill eliminating student debt relief, slashing Pell Grants, and penalizing institutions that serve low-income students.
Millions of working- and middle-class students will be priced out… pic.twitter.com/BNtzZ12dTI
— Anna – Never give up. No matter what is going on! (@Sanikri) June 26, 2025
It might also be more difficult for some enrollees to apply for and keep their benefits because of the additional paperwork and verification requirements. Certain aspects of two Biden administration guidelines that streamline enrollment and coverage renewals will be postponed by the measure.
Before the plan was changed and eventually passed by the Senate, a Congressional Budget Office estimate released Sunday predicted that about 12 million more people would be uninsured in 2034, with many of them losing coverage due to the Medicaid provisions in the bill.
More food stamp recipients would have to work to maintain their benefits. The plan would expand the current work obligation to include veterans, former foster youngsters, those who are homeless, parents of children aged 14 and up, and enrollees between the ages of 55 and 64.
If Trump’s so-called “big beautiful bill” is enacted:
Millions of manufacturing jobs would be targeted.
17 million Americans would lose health care.
Nutrition assistance would be cut.Oh, and the deficit would increase by 4 trillion.
This isn’t about spending reduction.
— Alex Soros (@AlexanderSoros) July 1, 2025
Enrolling in plans and obtaining federal subsidies to assist with premium payments may be more difficult for Americans searching for coverage on the Obamacare exchanges. The law would essentially stop automatic reenrollment and raise verification requirements. According to the CBO, millions of individuals would no longer be covered by Obamacare.
The amount that parents can borrow to assist with student tuition and the amount that students can borrow in federal student loans for graduate school would both be subject to new limitations.
Opportunities for forbearance or deferments would be reduced. In addition, there would be restrictions on loans for students enrolled part-time and a far smaller range of alternatives for repayment, departing from the loan forgiveness initiatives of the Biden administration.
Not just that immigrants may no longer qualify for benefits and people planning on solar and wind tax credits will have to hurry. The law would permanently increase the child tax credit from the current $2,000 to $2,200 per child, giving many parents a bigger tax break.
Married couples making up to $400,000 and single parents making up to $200,000 would be eligible. For people with greater salaries, the credit would gradually disappear.
