Trump's 'big, beautiful' bill could leave 12 million without healthcare and America drowning in debt

Senate Republicans narrowly approved President Donald Trump’s giant tax and spending cuts package today after a days-long grind. The vote was 50-50, and Vice President JD Vance cast the tie-breaking vote. The bill will now go to the House of Representatives.

Trump's 'big, beautiful bill' must pass in the House before heading to the president’s desk. GOP leaders are racing to try to get the bill to the White House by July 4.

The 940-page proposal covers tax cuts, healthcare, food aid, clean energy, immigration enforcement, student loans, military spending, and more. According to a New York Times report, the bill could leave 12 million more Americans uninsured over the next decade.


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12 million Americans might lose health coverage

The bill could cut health insurance coverage for nearly 12 million Americans and add $3.3tn (£2.4tn) in debt, according to new estimates, reports BBC. The bill would result in deeper health care cuts and leave more people without insurance, according to a report from the Congressional Budget Office (CBO).

New estimates from CBO also revealed that over the same period, federal spending on Medicaid, Medicare and Obamacare would be cut by $1.1 trillion. More than $1 trillion of the cuts would be made to Medicaid. The legislation would also cut federal spending on Medicaid, Medicare and ObamaCare by $1.1 trillion, with more than $1 trillion coming from Medicaid.

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Over a decade, the bill would add at least $3.3 trillion to the national debt, according to the CBO. The version passed by the House would have added $2.4 trillion. The public debt currently stands at approximately $29 trillion, and the Congressional Budget Office (CBO) projects that the government will need to borrow an additional $21 trillion over the next decade. This outlook has fueled concerns that the proposed Republican legislation could significantly worsen an already bleak fiscal trajectory.

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While the bill is estimated to add $3.3 trillion to the national debt, that figure excludes increased borrowing costs. When those are factored in, the total impact could approach $4 trillion.

“Our fiscal house is basically on fire,” Democratic Senator Gary Peters said in remarks on the Senate floor on Sunday. “But if our Republican colleagues jam through this bill, it's not going to pour water on that fire. It's going to pour gasoline on those flames.”

Trump's 'big, beautiful' bill would extend tax cuts passed by Republicans in 2017. The bill proposes cuts to certain programmes in order to pay for the tax deductions.

On healthcare, the spending bill proposes a work requirement on most adults in order to qualify for benefits. It also reduces the amount of taxes that states can charge medical providers, the funds from which are used heavily to finance Medicaid programs.