#OneBigBeautifulBill Big and Beautiful Bill” Approved: $4T+ in Tax Cuts, Massive Cuts to Medicaid, Deficit Increase on the Horizon

In a tight vote of 218–214, the U.S. House of Representatives today approved President Trump's comprehensive “A Big and Beautiful Bill,” which extends and expands $4.5 trillion in tax cuts—making permanent provisions like tax exemptions on tips, relief for overtime, and larger deductions for seniors and families. It also injects $350 billion into national security, border enforcement, and immigration measures.

However, the package will offset revenue through deep cuts in spending: $1.2 trillion cut from Medicaid, food stamps (SNAP), and tax credits for green energy. The Congressional Budget Office warns that federal deficits will increase by $3.3 trillion over the next decade, with nearly 12 million more Americans expected to lose health insurance.

💥 Key Takeaways:

• Tax relief for workers and seniors, but significant cuts to social safety nets.