WASHINGTON – Faced with criticism of President Donald Trump’s signature “One Big Beautiful Bill Act,” Republican leadership have focused their defense on how the tax breaks will boost the economy.
The 1,037-page bill is chock full of increased spending for border security and the military, but the biggest ticket items are sweeping tax cuts that the White House says “means an extra $5,000 in Americans’ pockets” through decreases in tax bills. All of which would be paid for, at least partially, by cuts to Medicaid and food stamp spending.
The Congressional Budget Office calculated that the bill’s $1.3 trillion reduction in spending doesn’t cover the $3.7 trillion cost of the tax breaks and other spending, meaning the bill would add $2.4 trillion over the next decade to the natio