US EditionHow the “big, beautiful bill” will deepen the racial wealth gap
UNITED STATES, JUL 19 – The law makes permanent 2017 tax cuts and introduces $1,000 'Trump Accounts' for children, while critics warn it widens the racial wealth gap and cuts Medicaid and food aid.
- President Donald Trump signed the tax reform extension into law on July 4, 2025, claiming it would stimulate the economy and foster financial security.
- The Congressional Budget Office stated that low-income families lost over $4,000 per year in subsidies due to previous tax cuts, which is expected to worsen with the new legislation.
- The One Big Beautiful Bill includes provisions that disproportionately benefit wealthy families while tightening support for low-income families in programs like Medicaid and food assistance.
- Approximately 17 million children, mainly Black and Latino, will receive no benefits from the new tax credits, as the legislation restricts eligibility based on taxpayer identification.
21 Articles
21 Articles
MaryBe McMillan: Sen. Ted Budd is no friend to workers and communities
The so-called “One Big Beautiful Bill” that President Trump signed into law on the Fourth of July will have devastating impacts on the health and food security of working people in North Carolina.
Trump’s Tax Law Will Add $3.4 Trillion to US Deficits, CBO Says
President Donald Trump’s recently enacted tax and spending law will add $3.4 trillion to US deficits over a decade and leave millions without health care coverage, according to a new estimate from the nonpartisan Congressional Budget Office.
POLL: The House Republican Agenda Is An Epic Disaster
The Big, Ugly Law is deeply unpopular with the American people, according to yet another national poll. The new CBS News poll finds six in 10 people disapprove of the bill, which the so-called moderate House Republicans voted to pass after lying for months that they would not cut Medicaid or food assistance. Trump’s Big, Ugly Law marks the largest single transfer of wealth from poor to rich in U.S. history – and the American people know it. Most…
Colorado Politics
Denver GazetteSelling ‘big, beautiful bill’s’ tax cuts is Trump’s No. 1 job
President Donald Trump and the Republican Party’s top priority heading into next year’s midterm congressional elections will be selling the tax cuts in the One Big Beautiful Bill Act, a pitch that met a stiff headwind from the media and…
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