$1 Trillion in Medicaid Cuts—$1 Trillion in Tax Giveaways for the Richest 1 Percent: The One Big ‘Beautiful’ Bill’s Budget Math

[Tony]

The one Big Bloat bill...

On July 3rd, Congressional Republicans passed the One Big Beautiful Bill Act (OBBBA)—sweeping, regressive legislation that will upend the American health care and tax systems. Drawing on estimates of Senate legislation published by the nonpartisan Congressional Budget Office (CBO) and the Joint Committee on Taxation (JCT), a new Center for American Progress analysis finds that the bill’s Medicaid cuts for low-income families and its tax giveaways to the top 1 percent of earners are roughly equal in size: approximately $1 trillion over the next decade.