{"id":6930,"date":"2025-07-01T22:07:33","date_gmt":"2025-07-01T22:07:33","guid":{"rendered":"https:\/\/www.newsmakers.com.pk\/en\/?p=6930"},"modified":"2025-07-01T22:07:36","modified_gmt":"2025-07-01T22:07:36","slug":"big-beautiful-bill-beautiful-future-but-not-for-everyone","status":"publish","type":"post","link":"https:\/\/www.newsmakers.com.pk\/en\/international\/big-beautiful-bill-beautiful-future-but-not-for-everyone\/6930\/","title":{"rendered":"Big Beautiful Bill: Beautiful Future \u2014 But Not for Everyone"},"content":{"rendered":"\n

Date: July 1, 2025 | NewsMakers Web Desk Desk<\/strong><\/p>\n\n\n\n

President Donald Trump calls it the \u201cOne Big Beautiful Bill Act.\u201d<\/em> At over 1,000 pages in the House and nearly 900 in the Senate, it\u2019s big and bold \u2014 but, for many, it’s bitter.<\/p>\n\n\n\n

On the surface, the legislation delivers sweeping tax reforms, promises economic relief, and revives key aspects of Trump\u2019s 2017 tax cuts. But beneath the attractive name lies a reality that could sharpen America\u2019s class divide<\/strong>, reward the wealthy, and leave millions struggling with reduced assistance and fewer safety nets.<\/p>\n\n\n\n

A Narrow Win<\/h3>\n\n\n\n

On July 1, the U.S. Senate narrowly passed its version of the bill, with Vice President JD Vance casting the tie-breaking vote. The legislation now returns to the House, with pressure to finalize it before July 4 \u2014 the date Trump wants it signed into law.<\/p>\n\n\n\n

Who Gains \u2014 and Who Pays the Price?<\/h3>\n\n\n\n

The Wealthy<\/strong>:
According to the nonpartisan Tax Policy Center, the bill would cut taxes by an average of \\$2,800 per household<\/strong> in 2026 \u2014 but more than two-thirds of those benefits would go to Americans earning \\$217,000 or more.<\/strong> Nearly 25% would go to those making over \\$1.1 million.<\/p>\n\n\n\n

Families with Children<\/strong>:
The House version boosts the Child Tax Credit to \\$2,500 through 2028<\/strong>, then reduces it to \\$2,000. However, nearly 4.5 million children<\/strong> could lose eligibility if both parents don\u2019t have Social Security numbers.
The Senate bill proposes a \\$2,200 permanent credit indexed to inflation.<\/strong><\/p>\n\n\n\n

MAGA Accounts for Kids<\/strong>:
Children under 8 would receive \\$1,000 each for \u201cgrowth and investment accounts\u201d<\/strong> \u2014 part of the bill\u2019s appeal to Trump\u2019s base.<\/p>\n\n\n\n

Made-in-America Car Buyers<\/strong>:
Buyers of U.S.-manufactured vehicles could deduct up to \\$10,000 in car loan interest annually<\/strong> between 2025\u20132028, though this phases out at higher income levels.<\/p>\n\n\n\n

Workers with Overtime<\/strong>:<\/p>\n\n\n\n

    \n
  • The House bill completely exempts overtime pay from federal income tax.<\/li>\n\n\n\n
  • The Senate version allows deductions up to \\$12,500<\/strong> for those earning under \\$150,000<\/strong>.<\/li>\n<\/ul>\n\n\n\n

    Tipped Workers<\/strong>:
    The House bill makes all tips tax-free through 2028.<\/strong>
    The Senate allows a \\$25,000 deduction cap<\/strong> for earners under \\$150,000.<\/p>\n\n\n\n

    Losers: The Working Class, Students, and America\u2019s Most Vulnerable<\/strong><\/h3>\n\n\n\n

    Low-Income Americans<\/strong>:
    Individuals earning below \\$17,000 could lose over \\$1,000 annually<\/strong>.
    Those in the \\$17,000\u2013\\$51,000 range<\/strong> would lose around \\$700 \u2014 primarily due to cuts in Medicaid, food assistance, and student loan programs.<\/strong><\/p>\n\n\n\n

    SNAP & Medicaid Recipients<\/strong>:<\/p>\n\n\n\n

      \n
    • The House bill slashes \\$698 billion from Medicaid<\/strong>, while the Senate version cuts \\$1 trillion<\/strong> over 10 years.<\/li>\n\n\n\n
    • Up to 7.6 million people may lose coverage<\/strong>, according to the CBO.<\/li>\n\n\n\n
    • SNAP faces \\$267 billion in cuts<\/strong>, plus new work requirements for ages 55\u201364.<\/strong><\/li>\n<\/ul>\n\n\n\n

      Student Loan Borrowers<\/strong>:
      Biden-era loan relief policies would be repealed. Graduate loans vanish, and only two repayment plans would remain. Parental and undergraduate borrowing would face strict limits.<\/p>\n\n\n\n

      Undocumented Immigrants<\/strong>:
      The bill raises barriers and costs:<\/p>\n\n\n\n

        \n
      • \\$1,000 asylum application fee<\/strong><\/li>\n\n\n\n
      • \\$500 work permit renewals every 6 months<\/strong><\/li>\n\n\n\n
      • Charges for appeals and court filings<\/li>\n\n\n\n
      • Discourages states from using their own funds to provide Medicaid to undocumented children<\/li>\n<\/ul>\n\n\n\n

        The Federal Budget<\/strong>:
        Despite massive cuts in social programs, the bill would still increase the federal deficit by \\$3.8 trillion between 2026 and 2034<\/strong>, according to the Congressional Budget Office.<\/p>\n\n\n\n

        Analysis: A “Beautiful” Bill for the Few?<\/h3>\n\n\n\n

        While Trump and GOP lawmakers tout the bill as an economic revival plan, critics argue it marks the further erosion of social equity<\/strong> in America.
        It lowers taxes \u2014 yes, but for those already financially secure. And it makes low-income survival harder<\/strong>, not easier.<\/p>\n\n\n\n

        From MAGA savings accounts to untaxed tips and overtime, the bill is styled as populist \u2014 but the deepest benefits flow upward<\/strong>, while the heaviest burdens fall downward<\/strong>.<\/p>\n\n\n\n

        Final Thought<\/h3>\n\n\n\n

        The Big Beautiful Bill is indeed historic. But whether it\u2019s \u201cbeautiful\u201d<\/em> may depend entirely on where you stand in the American economic ladder<\/strong> \u2014 and how much further you’re about to climb\u2026 or fall.<\/p>\n","protected":false},"excerpt":{"rendered":"

        Date: July 1, 2025 | NewsMakers Web Desk Desk President Donald Trump calls it the \u201cOne Big Beautiful Bill Act.\u201d At over 1,000 pages in the House and nearly 900 in the Senate, it\u2019s big and bold \u2014 but, for many, it’s bitter. On the surface, the legislation delivers sweeping tax reforms, promises economic relief, …<\/p>\n","protected":false},"author":4,"featured_media":6931,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-6930","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-international"],"yoast_head":"\nBig Beautiful Bill: Beautiful Future \u2014 But Not for Everyone - NewsMakers-Daily Latest Urdu Breaking News Updates<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.newsmakers.com.pk\/en\/international\/big-beautiful-bill-beautiful-future-but-not-for-everyone\/6930\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Big Beautiful Bill: Beautiful Future \u2014 But Not for Everyone - NewsMakers-Daily Latest Urdu Breaking News Updates\" \/>\n<meta property=\"og:description\" content=\"Date: July 1, 2025 | NewsMakers Web Desk Desk President Donald Trump calls it the \u201cOne Big Beautiful Bill Act.\u201d At over 1,000 pages in the House and nearly 900 in the Senate, it\u2019s big and bold \u2014 but, for many, it’s bitter. 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