Trump’s billionaire-first bill is the most unpopular legislation in at least 30 years
This week marks one year since Donald Trump signed his “One, Big Beautiful Bill” into law — the largest wealth transfer from low-income Americans to the top 1% in history. One year later, Trump and Republicans are coming face to face with reality: Their billionaire-first legislation ripped healthcare away from millions of Americans, slashed food assistance, and gave the largest tax handout to billionaires and big corporations in history.
By a more than two-to-one margin, voters believed Trump’s budget will leave their families worse off, and two-thirds said it will primarily benefit the wealthy.
In response, DNC Chair Ken Martin released the following statement:
“One year after Donald Trump signed his ‘signature achievement’ into law, it’s clearer than ever where his loyalties lie: with himself, his billionaire donors, special interests, and corporations — not working families. Trump and Republicans made a clear choice: They cut trillions of dollars from programs Americans rely on to afford healthcare and groceries to give tax handouts to the ultra-rich, leaving working families barely scraping to get by. No amount of spin can change the unimaginable reality that Americans are staring down: being forced to make impossible decisions about paying their medical bills, forgoing healthcare coverage, or putting food on the table — all so that Trump and his wealthy donors could make an extra buck. As Trump and Republicans cement themselves as the party of the rich and powerful, Democrats will continue fighting to lower costs and make life better for working families.”
Tax Handouts for the Rich:
- Trump’s bill gave more to the top 1% than the bottom 80% combined, receiving a total tax cut of about $14 billion more than the poorest 40%, the middle 20% and the next 20% of Americans combined.
- For every dollar Trump’s bill cut from healthcare and food assistance programs, it delivered a dollar in tax breaks to the top 1%.
- Lower- and middle-income Americans faced higher taxes and lower incomes because of Republicans’ refusal to extend healthcare tax credits and food assistance.
- The poorest households will end up with $1,200 less per year, while the wealthiest Americans will gain nearly $14,000 yearly.
- The “no tax on tips” and “no tax on overtime” provisions were limited to only a small handful of workers — who were hit by the devastating healthcare and food assistance cuts in the bill. These provisions are temporary, while Trump’s massive tax cuts for billionaires are permanent.
Cuts to Healthcare and Food Assistance:
- Trump’s bill cut $1 TRILLION from Medicaid — the single largest cut to healthcare in history.
- The cuts to Medicaid put 900 health facilities at risk of closure, including more than 300 rural hospitals, by cutting essential health services.
- One in four nursing homes predicted they would be forced to close as a result of Trump’s cuts.
- Ten million Americans are expected to lose healthcare as a result of Trump’s bill — on top of the five million people who have already dropped coverage after Trump and Republicans refused to extend the enhanced premium ACA tax credits.
- At least four million people have already lost food assistance, and 22.3 million total households were expected to lose some or all of their SNAP benefits.
Spiked Energy Prices:
- Household energy costs were expected to skyrocket by nearly $300 annually because of Trump’s bill — on top of the additional energy costs Americans are shelling out due to Trump’s war with Iran.
- The high costs Americans have incurred for gas and energy due to Trump’s war with Iran have wiped out any additional earnings they may have received in tax refunds.
