The One Big Beautiful Bill and You

Key Points of the One Big Beautiful Bill – In Simple Terms

🧾 1. Tax Changes

• Keeps previous tax cuts permanent (from 2017), meaning most people and businesses won’t see their taxes go up.

• Increases the child tax credit – more money back for parents.

• New tax deduction for tips and overtime pay – workers who earn extra can pay less in taxes.

• Raises the SALT deduction cap – helps people in high-tax states like California and New York.

• Adds a special tax break for seniors – extra $6,000 (or $12,000 for couples), but only for some income levels.

• Creates “Trump Accounts” for kids – government gives babies $1,000 to start savings accounts.

• Adds new taxes and penalties for certain nonprofits, big college endowments, and people sending money abroad.

🏥 2. Changes to Health and Food Programs

• Medicaid (health insurance for low-income people):

  • People must work 80 hours a month to keep benefits.

  • Some services now come with small fees (up to $35).

  • Green card holders must wait 5 years before they qualify.

• Food Stamps (SNAP):

  • States have to pay more, and face penalties for mistakes.

• These cuts are expected to save the government a lot of money—but millions may lose coverage or benefits.

🪖 3. Military and Border Security

• Spends billions more on the military—for drones, missiles, and weapons.

• Puts up to $350 billion toward the U.S.-Mexico border:

  • Finishes more border wall.

  • Increases the number of agents and detention centers.

  • Makes it possible to deport up to 1 million people per year.

⚡ 4. Energy & Climate

• Ends tax credits for clean energy like solar panels, electric cars, and wind power.

• Likely result: fewer green energy jobs and higher energy costs.

🎓 5. Education & Student Loans

• New grants for trade school students.

• Caps how much students can borrow for college (especially for grad school).

• Makes it harder to get big federal loans.

🚀 6. Other Spending

• Gives more money to NASA (space projects), air traffic systems, and the military.

• Cuts funding for the agency that protects consumers from scams.

• Ends the $200 tax on owning gun silencers and short rifles.

• Funds the “National Garden of American Heroes”, a Trump project with statues of historical figures.

📉 7. Impact on the Economy

• Could increase the national debt by $2.5 trillion over 10 years.

• Critics say it:

  • Gives big tax breaks to the wealthy.

  • Takes away healthcare from around 11 million people.

  • Could cause more people to die early due to health care loss.

• Agencies warn the U.S. credit rating could drop due to the cost of the bill.