Related Articles
-Editorial
President Donald Trump signed into law a sweeping bill known as the “One, Big Beautiful Bill” that affirms much of his agenda which includes imposing tax cuts.
This was indeed a great triumph for Trump as he implemented many policies that have been a dream for the conservative movement for years and are now a reality. Despite that, many on the right acknowledge the potential implications of a higher deficit for years to come and how that could affect the economy in the long run.
According to White House officials, the newly signed law delivers the largest tax cut in history for working and middle-class Americans, eliminates taxes on tips, overtime, and Social Security, boosts take-home pay, and includes major investments in border security, military modernization, and domestic energy production.
While the Trump administration celebrates many fear the consequences of this new law.
Experts like Larry Levitt, Executive Vice President for Health Policy at Kaiser Family Foundation believe the law amounts to a partial repeal of the Affordable Care Act, potentially eliminating many of its gains in health coverage. The Congressional Budget Office estimates it will reduce federal health spending by over $1 trillion in the next decade and increase the number of uninsured Americans by nearly 12 million.
Key provisions include new Medicaid work requirements, more frequent eligibility renewals, and restrictions on premium subsidies and automatic ACA marketplace renewals. Levitt warns that roughly 4.8 million people could lose coverage due to bureaucratic hurdles.
The bill also targets lawfully present immigrants, removing their eligibility for federal health benefits under Medicaid, Medicare, and ACA subsidies. Cuts to Medicare totaling $500 billion are also part of the package.
Though a $50 billion rural health fund was added, Levitt said it won’t fully offset long-term losses, particularly for rural hospitals. Additionally, enhanced ACA tax credits enacted in 2021 are set to expire by the end of the year, which could raise premiums by 75% and lead to millions losing coverage in 2026.
Natasha Sarin, professor at Yale Law School and the Yale School of Management, cited data from the Congressional Budget Office and academic research indicating that up to 16 million Americans could lose health coverage over the next decade, due to Medicaid cuts and the likely expiration of ACA premium tax credits.
“These changes will disproportionately hurt the most vulnerable,” Sarin said, noting that low-income Americans could see their incomes fall by $700 annually due to reduced federal support. Meanwhile, the wealthiest 1% are expected to receive tax cuts averaging $30,000 per year, with even larger benefits for the top 0.1%.
Sarin also warned that the bill’s long-term impact, if temporary provisions are made permanent, would push the U.S. debt-to-GDP ratio to 135%, raising borrowing costs for both the government and households.
“This is reverse Robin Hood economics,” she said. “We’re taking from the bottom and giving to the top.”
Environmentalist and writer Bill McKibben criticized recent federal legislation that slashes climate and public health programs, calling it “a betrayal of America’s scientific leadership.” McKibben warned that the bill halts key clean energy tax credits and weakens the country’s ability to combat climate change.
“This legislation is designed to slow down the transition to renewables,” McKibben said. “It guts incentives for solar, wind, and electric vehicles while propping up fossil fuels.”
McKibben also highlighted the bill’s public health impacts, noting that air pollution from fossil fuels contributes to widespread asthma and early deaths. “One in five deaths globally is tied to fossil fuel particulates,” he said.
In addition to climate cuts, the bill sharply reduces funding for NASA and NOAA, hindering efforts to monitor global warming. “We’re turning off satellites that tell us how fast the planet is heating,” McKibben added.