President Trump’s major legislative package received final House approval after GOP members changed their votes. The bill incorporates substantial tax cuts, primarily benefiting wealthy Americans, increased funding for border security and the military, and significant reductions to federal safety net programs like Medicaid. Estimates predict around 17 million will lose health insurance due to these cuts. The Congressional Budget Office projects an increase of over $3.4 trillion in the federal deficit over the next decade. The bill's overall impact will affect taxation, health care costs, and more for many Americans.
The tax breaks totaling $4.5 trillion overwhelmingly benefit the wealthiest Americans, who would receive about two-thirds of the benefits.
Cutbacks to Medicaid and other health care rollbacks are expected to result in about 17 million people losing their health insurance, according to nonpartisan estimates.
The bill would add more than $3.4 trillion to the federal deficit over the next decade, according to the nonpartisan Congressional Budget Office.
Rep. John Mannion described the budget as reckless, dishonest, and devastating, with every independent, nonpartisan analysis concluding that it adds trillions to the deficit.
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