Here's what's in Trump's 'Big, Beautiful Bill'

 

• Bill Name: One Big Beautiful Bill Act

• Purpose: Enacts broad Republican policy priorities, including permanent Trump-era tax cuts, major welfare program reforms, and increased border and defense spending.

• House Passage: Narrow margin, fully along party lines.

• Total Cost: Adds between $3.3 to $5.2 trillion to the national debt by 2035.

• Debt Ceiling: Authorizes a $4 trillion increase.

Tax Provisions

• Permanently extends most provisions of the 2017 Tax Cuts and Jobs Act.

• Key Provisions:

  • Higher standard deduction maintained and slightly increased.

  • $2,000 child tax credit retained, with new SSN requirement for both parents.

  • QBI deduction increased from 20% to 23%.

  • Manufacturing deduction for 100% of facility improvements.

• SALT Cap: Raised to $40,000 for those earning <$500,000.

• Temporary Measures (expire FY 2028):

  • Elimination of taxes on tips and overtime.

  • Partial refundability for the adoption tax credit.

  • No interest on American car loans.

  • Extra $4,000 in deductions for eligible seniors.

Healthcare & Medicaid Changes

• Rolls back COVID-era Medicaid eligibility rules.

• Imposes work requirements for able-bodied adults without dependents.

• Cuts funding to Planned Parenthood and gender-affirming care for minors.

• Medicaid savings: Several hundred billion; removes coverage for 7.7 million by 2034.

• Accelerates work requirement implementation to 2026.

• Bans new state taxes on Medicaid providers.

SNAP (Food Stamps) Reforms

• Saves $230 billion by:

  • Requiring states to cover 5% of benefit costs by 2028.

  • Penalizing high error rates (currently 11.68% avg).

  • Closing waiver loopholes for work requirements.

  • Excludes all noncitizens (except legal permanent residents).

Education & Student Loans

• Eliminates the Biden-era SAVE loan repayment plan.

• Narrows loan repayment plans.

• Penalizes institutions that allow unaffordable student borrowing.

• Restricts Pell Grants to:

  • Students taking >6 credit hours.

  • Low-income students in short-term programs.

Energy & Environment

• Repeals/ends most renewable energy tax credits from the Inflation Reduction Act (IRA):

  • Ends clean hydrogen, electric vehicle, and clean electricity credits by 2026–2028.

• Expands oil, gas, and coal leasing on federal lands.

• Reduces drilling royalty rates to 12.5%.

Border Security & Immigration

• $47 billion for a "Border Barrier System".

• Additional $5B+ for CBP facilities and hiring.

• $45 billion to expand ICE detention centers.

• New immigration fees:

  • $1,000 asylum application fee.

  • $3,500 for sponsors of unaccompanied minors.

  • $550 recurring work permit fee every 6 months.

  • $500 for Temporary Protected Status applications.

Defense & Homeland Security

• $150 billion for military:

  • Shipbuilding, munitions, and nuclear deterrence.

  • “Golden Dome for America” missile defense project.

• $5 billion of that earmarked for border security.

• Transportation funds:

  • $22B to Coast Guard, $15B to FAA.

• EV Fees: $250 annual fee for electric vehicle owners to fund the Highway Trust Fund.

Political & Procedural Notes

• Senate Passage uncertain:

  • Some GOP senators oppose Medicaid and IRA cuts.

  • Others want even deeper cuts.

• Senate can’t filibuster under budget reconciliation rules.

• GOP aiming for Independence Day passage.

Key Takeaways

• Sweeping Republican policy bill combining tax cuts, entitlement reform, immigration enforcement, and energy expansion.

• Major shift away from Biden-era policies.

• Expected to add trillions to the national debt, despite significant program cuts.

• Fierce opposition from Democrats; divided opinions among Senate Republicans.

https://www.thecentersquare.com/national/article_8068ef05-daec-4d63-bcb8-852f0cbfdbd4.html