Donald Trump wants the Senate Republicans to approve his “One Big Beautiful Bill Act” and have it ready for his signature by July 4th. This bill is set to make the tax cuts from his first term permanent while slashing the funding of social programs and making life harder for the average American. Everything points out that the bill will end up being passed despite the opposition from the public, Democrats, and even some Republicans. At that moment, powerful industries that funded this ugly scam will raise their glasses.
Big Beautiful Betrayal of the American People
Trump’s administration says that the bill “lowers tax rates to keep more money in Americans’ pockets.” However, what they don’t mention is that it will only benefit Americans who already have their pockets overfilled with money. Low-income households that earn $35,000 or less will only stand to benefit $150 compared to the current law. On the other hand, the highest-income households, which sit in the top 1%, would save $67,000.
Despite standing to benefit the least from tax cuts, low-income Americans will be the ones funding it. It is estimated that the tax cuts will cost the U.S. $4.6 trillion in the next decade. In order to offset this figure, the Republicans decided to target social programs like Medicaid and the SNAP (Supplemental Nutrition Assistance Program). The bill imposes cuts to these programs and imposes stricter conditions and requirements for enrollment. Estimates say that the changes would cause 5.2 million people to lose their medical coverage, while at least 4 million people would lose access to food stamps.
Powerful Industries Are Behind the Bill
The reason why the “One Big Beautiful Bill Act” will likely pass is that those who stand to benefit from it the most poured in a lot of money to make it happen. For example, American Action Network and Americans for Prosperity have spent $4 million each on campaigns in support of the bill. The former has received large funding, estimated to be close to $35 million since 2010, from the pharma trade group Pharmaceutical Research and Manufacturers of America. The latter is a conservative advocacy group backed by Charles Koch, co-owner of conglomerate Koch Industries.
They are joined by Wall Street managers, who spent around $7 million through various private equity groups to keep the loophole that allows them to pay lower taxes on earnings from investments. Additionally, the bill is endorsed by a long list of big companies, including AT&T, Chevron, Delta Air Lines, UPS, and many more.
Americans Are Not Buying the Scam, but Republicans Don’t Care
It’s encouraging to see that average Americans are not buying this scam. According to several polls, the majority of voters oppose the bill. However, Republicans and Trump don’t care about the opinions of the people who elected them. They just want to make their rich friends richer and pocket a few extra dollars for themselves along the way.
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