Here’s a quick rundown of what’s inside the “One Big Beautiful Bill Act”  as of May 24, 2025. The indented areas are our perspective. Our major issues are with reducing corporate taxes and tax benefits to wealthy.

  • Permanent extension of the individual income tax cuts in the 2017 Tax Cuts and Jobs Act, with some adjustments.
    • This reduces the corporate tax rate from 35% to 21%, increases the standard deduction and increases exclusion amounts for estate taxes.
    • Limits deductions for property taxes and state and local taxes- this was raised
    • Limits mortgage interest deduction
    • Doubles estate and gift  tax exemption- rises to $15 million and adjusted for inflation going forward
    • Increase the child tax credit by $500- temporarily
    • Extending the 2017 tax cuts will decrease federal tax revenue by $4 Trillion from 2025 through 2034
    • Benefit goes to wealthy- 49% goes to top 5%.  The 10 richest Americans got $365 billion richeer in the last year and with tax cut, it will soar.
  • Temporary elimination of taxes on qualified tips, overtime pay and car loan interest payments.
    • On May 20th the Senate passed the No Tax on Tips Act- tax deduction worth up to $25,000 on tips, limited to cash tips that workers report to employers for withholidng purposes on payroll taxes and restricted to those who earn $160,000 or less in 2025 and amount with rise with inflation in future years.
    • Employers could lower wages and employees would have to rely even more on tips (and in a recession, probably less). How this relates to the Big Beautiful bill we do not know.
  • An additional $4,000 deduction for senior Americans in lieu of no taxes on Social Security (there are procedural reasons why Republicans can’t do no taxes on Social Security, namely the Byrd Rule).
  • SALT cap increase-deduction of local and tax taxes – increased to $40,000 for incomes up to $500,000
  • Hikes debt ceiling by $4 trillion (The debt limit is forecasted to become a problem sometime after July or August if Congress fails to act).
  • $175 billion for border security, including $46.5 billion for the construction of a wall along the US-Mexico border specifically. $4 billion to hire 3000 new border patrol agents and 5000 new custom officers and $2.1 billion for signing and retention bonuses.
  • $150 billion in additional funding for defense, including $25 billion for Trump’s space-based Golden Dome missile defense system, $34 billion to expand the Navy’s capacity and shipbuilding, $21 billion to replenish America’s ammunition stockpile and $5 billion for border security.
  • A mandated 80-hour-per-month work requirement on able-bodied adults ages 19 – 64 enrolled in Medicaid. Volunteer work and school would count toward the requirement. Work requirements would kick in at the end of 2026 rather than 2029, financial incentives for states not to expand coverage to people who are near the poverty line and bar gender affirming care for adults.
  • States that provide Affordable Care Act expansion of Medicaid coverage for illegal immigrants will see their reimbursement rates drop.
  • States with error rates on SNAP benefits would be required to pay a percentage of the program (historically, the feds paid for all of it). Sataes would pay 5% of benefit cost starting in 2028 and then 75% of administrative costs. None states pay none of the  benefit and 50% of admin costs.
  • Set up a fast-track system for permitting natural gas if applicants pay either 1% of a project’s costs or $10 million, whichever amount is less.
  • Ends the Biden-era electric vehicle mandate for two-thirds of new car sales to be EVS by 2032. Reduce or eliminate tax credit for clean energy developers.
  • Able-bodied adults without children would also see work requirements for SNAP, which currently last until the age of 54, jump to the age of 64.
  • New “Money Accounts for Growth and Advancement” MAGA savings accounts for parents and guardians where the feds will pay $1,000 for children born between Jan. 1, 2024, and Dec. 31, 2028.
  • Restrictions on large abortion providers such as Planned Parenthood from getting Medicaid funding.
    • 3% are abortion, all their other services include cancer screening (9%), STI treatment (42%), contraception- 34%, other services -11%
    • 34% of Planned Parenthood comes from government grants, contracts and Medicaid reimbursements.
  • Restrictions on Medicaid funding for transgender surgeries.
  • Eliminate the $200 tax on gun silencers.
    • Seriously???
  • Tax of up to 21% on certain university endowments.
    • Currently is it 1.4%
    • Could lead to increased tuition
    • Endowments are crucial for academic research, student aid
    • This mainly affects Ivy League Schools- Trump punishing Harvard…
  • Consolidate student loan payments into two options: 1.) standard program, encompassing monthly payments over a 10 to 25 year period 2.) “repayment assistance” program that is more lenient.
    • The real issue is the cost of college education
  • Roll back key provisions of the Inflation Reduction Act.
    • Climate Change- Transform energy systems to minimize carbon emissions and enhance adoption of green energy- This act would roll they back
  • Air Traffic Control modernization

Some of our issues are: Corporate tax cuts and tax revisions that favor wealthy. Increase in Debt.Entire staff of HEAP fired, Trump wanted to defund Head Start but was later reversed, indirectly  affected Meals on Wheels which is not directly a federally funded program but Trump proposed cuts to programs like the Community Development Block Grant (CDBG) and the Social Services Block Grant (SSBG), which some local Meals on Wheels programs rely on for funding. Additionally, Trump wants to cut $300 billion to SNAP (Supplemental Nutrition Assistance Program).  Given the cost of utilities, we should be able as a country to supplement heating costs for low income individuals as well as feed the elderly, kids and seniors and the poor. Current Eligibility for SNAP