#大而美法案

The "Big and Beautiful" tax and spending bill promoted by the Trump administration officially took effect on July 4, 2025. This legislation, which combines tax cuts, welfare reductions, and defense expansion, has sparked widespread controversy. The core of the bill includes extending the 2017 tax cuts, maintaining the corporate tax rate at a low 21%, and exempting income from tips, overtime pay, and other sources from taxation, with an expected tax cut scale of $4.9 trillion over the next ten years. Meanwhile, the bill cuts nearly $1 trillion in Medicaid and food stamp spending, requiring low-income groups to work or volunteer to qualify for benefits, which is expected to lead to 11.8 million people losing health insurance.

The bill has a significant “robbing from the poor to give to the rich” characteristic: the top 1% of households will receive an average tax cut of over $60,000, while the bottom 60% of households will receive only $500. Research from Yale University indicates that the bill will reduce the after-tax income of the bottom 10% of households by 6.5%, while increasing the income of the top households by 1.5%. In terms of fiscal risk, the Congressional Budget Office predicts that the bill will increase the federal deficit by $3.4 trillion over ten years, with the national debt potentially exceeding $52 trillion by 2035, accounting for 120% of GDP.

The bill also reflects a strong ideological inclination: it cancels renewable energy subsidies to support traditional oil and gas industries, increases military spending by $150 billion to strengthen military hegemony, and invests over $120 billion in border wall construction and immigration enforcement. Notably, the bill includes Bitcoin as a national strategic reserve asset, abolishing the capital gains tax to encourage long-term holding, bringing favorable policies to the cryptocurrency market. Although Trump calls it a milestone for "Making America Great Again," critics argue that the bill exacerbates social division and fiscal crisis, fundamentally representing "sacrificing livelihoods for political gain."