The Thursday passage of President Donald Trump’s multitrillion-dollar ‘big, beautiful bill’ drew both praise and panic from lawmakers and budget organizations.
The massive budget reconciliation bill, which will add an estimated net $4.1 trillion to the primary deficit over the next decade, implements the bulk of the president’s policy agenda, including the codification of his 2017 tax cuts.
It also hikes the debt ceiling by $5 trillion, implements cost-saving reforms to Medicaid and SNAP, funds construction of a southern border wall, phases out solar and wind subsidies from the Inflation Reduction Act, and boosts fossil fuel energy production, among other things.
House Budget Committee Chairman Jodey Arrington, R-Texas, called the bill “the most comprehensive and consequential set of conservative reforms in modern history.”
“This Big Beautiful Bill delivers the greatest single investment in border security and national defense; the largest tax cuts for families and small businesses; the most significant commitment to unlocking America’s energy resources; and the largest reduction in spending in the history of the United States,” Arrington stated, referring to the bills’ $1.7 trillion in savings.
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Author: Ray Hilbrich
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