House Republicans are working late into the night as they accelerate efforts to advance President Donald Trump’s sweeping legislative initiative, widely referred to as the “Big, Beautiful Bill.” The package includes over $5 trillion in tax cuts and a host of reforms aimed at reshaping the American economy and welfare system.
The bill proposes major changes to the 2017 Trump tax law, including full exemptions for tips, Social Security income, and car loan interest. It also calls for doubling the standard deduction and expanding the Child Tax Credit.
However, the legislation also includes deep spending cuts. According to AP News, the bill would reduce Medicaid funding by $800 billion and cut $290 billion from the Supplemental Nutrition Assistance Program (SNAP). The proposal introduces stricter work requirements for benefit recipients and rolls back federal support for green energy initiatives.
In addition, the bill allocates $350 billion to a mass deportation initiative, increases defense spending, and seeks to revoke tax-exempt status from organizations accused of supporting terrorism.
The Congressional Budget Office estimates that millions of Americans could lose access to healthcare under the proposed Medicaid cuts, and up to 3 million people could be dropped from SNAP benefits each month.
Despite procedural hurdles and internal GOP debate, Republican leaders are aiming for a House vote by Memorial Day and hope to finalize the legislation by Independence Day.
