The One Big Beautiful Bill (For Billionaires) Act One Year Later

 

A little over a year ago, the Republican party/cult passed Public Law 119-21, which the Malignant Fascist had named "One Big Beautiful Bill Act."  A year later, we can survey the damage of the One Big Beautiful Bill (for Billionaires) Act so far:

One year after President Donald Trump signed the law he dubbed the “One Big Beautiful Bill” on the South Lawn of the White House, it has begun reshaping the country — altering who gets help from the government and who goes without.

The most consequential legislation of Trump’s second term reaches into nearly every corner of American life. It supercharges immigration enforcement, pouring billions into border security and deportations. It rewrites student loan rules. It dismantles tax incentives for electric vehicles and clean energy. It creates a national school-voucher tax credit.

And at its core is a seismic shift: extending roughly $4.5 trillion in tax cuts disproportionately benefiting corporations and the wealthy over 10 years while cutting about $1.1 trillion from healthcare and food assistance programs serving poor and working-class people.

It ultimately adds a projected $4.7 trillion to the national debt over the next decade.

Historians say the law represents a watershed moment in a decadeslong conservative effort to shrink the social welfare system built during President Franklin D. Roosevelt’s New Deal and expanded through Great Society legislation of the 1960s. To Chris Howard, a professor of public policy at the College of William & Mary and an expert on America’s safety net programs, the result amounts to “Robin Hood in reverse.”

“It deliberately targets some of the most vulnerable members of society,” he said, “while providing huge windfalls to the richest individuals and to big business.”

Supporters frame the act as a long-overdue correction. They argue it’s reducing dependence on government programs, rooting out waste, encouraging work and making American businesses more competitive. They point to larger tax refunds for many households — including the middle class — and an uptick in business investment as early evidence.

But many health policy experts, economists and antipoverty advocates see it as something else: one of the largest transfers of resources from low-income Americans to the rich in U.S. history.

Once all of the law’s major provisions are fully phased in, Congressional Budget Office estimates show, the poorest households will end up with roughly $1,200 less each year on average, while the wealthiest Americans will gain about $13,600.  [snip]

The law is also the legislative engine powering Trump’s mass deportation agenda, pairing an unprecedented expansion of immigration enforcement funding with cuts to healthcare and food assistance for many immigrants living in the U.S. legally.

Yes, billions to the ICE thugs, while taking health insurance and food out of the mouths of millions of Americans.  A few charts from the article:

 

 

 

The linked article goes on to explore, in greater detail, the shredding of the healthcare safety net, the "reverse Robin Hood" effect of the regressive tax cuts, SNAP cuts and growing hunger, and the racist immigration enforcement operation spearheaded by the murderous thugs of ICE and the Border Patrol.  

It couldn't be clearer that the Malignant Fascist and his Republican party/ cult have been benefiting the Epstein class oligarchy (most particularly the epically corrupt MF and his family) and making the rest of America suffer.  Meanwhile, while he builds gaudy monuments to himself with taxpayer dollars, the MF says"affordability" is a "hoax."  He also says "I don't think about Americans' financial situation."  Except, of course, his and his oligarch supporters.

 

(Photo:  Epstein class oligarchs & BBB beneficiaries at the MF's inauguration / Julia Demaree Nikhinson, AP)