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The One Big Beautiful Bill Act (OBBBA) cements the 2017 Trump-era tax cuts, including lower individual rates, larger standard deductions, permanent 20% pass-through deduction, and no tax on tipped income or overtime (hklaw.com).
At the same time, the bill cuts Medicaid by nearly $1 trillion and slashes SNAP by about $300 billion over ten years. It also expands work requirements and eligibility checks, and bans gender-affirming care in federal health programs (commonwealthfund.org
).Congressional Budget Office estimates show 10.9–17 million people may lose coverage, especially in Medicaid, due to stringent changes.
Upper-income Americans are the heavy beneficiaries. According to the CBO, the top 20% receive ~75% of the tax relief, with the very wealthy seeing $12,000+ annually (wwnytv.com).
For them, this is a significant economic victory: lower taxes, expanded deductions, and certainty on key provisions.
In contrast, low-income households, especially those dependent on Medicaid and SNAP, are bearing the brunt. Families earning under $20,000 per year may lose up to $1,600 annually, and coverage cuts may impact up to 17 million individuals.
New work and eligibility requirements risk pushing vulnerable families further into hardship.
The CBO projects this law will add $2.4–$2.8 trillion to the national debt by 2034, potentially undermining economic growth and increasing fiscal risk.
Environmental and energy incentives are rolled back, and funding is sharply increased for defense (+$150 billion) and immigration enforcement (+$175 billion), signaling a major domestic policy shift.
Trump supporters, especially wealthier ones, view the bill as a long-term win: tax certainty, strong defense, and border security—all hallmark campaign promises.
Opponents and progressives saw this coming: they criticized it as a massive wealth transfer from the people with low-income to the super-rich, erosion of the safety net, and an environmentally regressive step.
The One Big Beautiful Bill delivers tax relief and ideological priorities for many conservatives but does so at the expense of the most vulnerable. While upper-income households gain significantly, lower-income families face potential financial and health insecurity.
Expect this law to dominate midterm debates, influence campaign strategies, and shape long-term economic outcomes.