• Education
    • Higher Education
    • Scholarships & Grants
    • Online Learning
    • School Reforms
    • Research & Innovation
  • Lifestyle
    • Travel
    • Food & Drink
    • Fashion & Beauty
    • Home & Living
    • Relationships & Family
  • Technology & Startups
    • Software & Apps
    • Startup Success Stories
    • Startups & Innovations
    • Tech Regulations
    • Venture Capital
    • Artificial Intelligence
    • Cybersecurity
    • Emerging Technologies
    • Gadgets & Devices
    • Industry Analysis
  • About us
  • Contact
  • Advertise with Us
  • Privacy & Policy
Today Headline
  • Home
  • World News
    • Us & Canada
    • Europe
    • Asia
    • Africa
    • Middle East
  • Politics
    • Elections
    • Political Parties
    • Government Policies
    • International Relations
    • Legislative News
  • Business & Finance
    • Market Trends
    • Stock Market
    • Entrepreneurship
    • Corporate News
    • Economic Policies
  • Science & Environment
    • Space Exploration
    • Climate Change
    • Wildlife & Conservation
    • Environmental Policies
    • Medical Research
  • Health
    • Public Health
    • Mental Health
    • Medical Breakthroughs
    • Fitness & Nutrition
    • Pandemic Updates
  • Sports
    • Football
    • Basketball
    • Tennis
    • Olympics
    • Motorsport
  • Entertainment
    • Movies
    • Music
    • TV & Streaming
    • Celebrity News
    • Awards & Festivals
  • Crime & Justice
    • Court Cases
    • Cybercrime
    • Policing
    • Criminal Investigations
    • Legal Reforms
No Result
View All Result
  • Home
  • World News
    • Us & Canada
    • Europe
    • Asia
    • Africa
    • Middle East
  • Politics
    • Elections
    • Political Parties
    • Government Policies
    • International Relations
    • Legislative News
  • Business & Finance
    • Market Trends
    • Stock Market
    • Entrepreneurship
    • Corporate News
    • Economic Policies
  • Science & Environment
    • Space Exploration
    • Climate Change
    • Wildlife & Conservation
    • Environmental Policies
    • Medical Research
  • Health
    • Public Health
    • Mental Health
    • Medical Breakthroughs
    • Fitness & Nutrition
    • Pandemic Updates
  • Sports
    • Football
    • Basketball
    • Tennis
    • Olympics
    • Motorsport
  • Entertainment
    • Movies
    • Music
    • TV & Streaming
    • Celebrity News
    • Awards & Festivals
  • Crime & Justice
    • Court Cases
    • Cybercrime
    • Policing
    • Criminal Investigations
    • Legal Reforms
No Result
View All Result
Today Headline
No Result
View All Result
Home World News Us & Canada

Who wins and loses in Republicans’ ‘big, beautiful bill’

June 30, 2025
in Us & Canada
Reading Time: 7 mins read
A A
0
House Lawmakers Pass Budget Bill Ahead Of Speaker Johnson's Memorial Day Deadline
3
SHARES
7
VIEWS
Share on FacebookShare on Twitter


Legislation making its way through the Senate stands to have wide-ranging effects across the economy — bolstering tax benefits for businesses and higher-income households while threatening health insurance for millions of Americans and putting thousands of clean energy and health care jobs at risk.

The bill, which is more than 900 pages long and Republicans have dubbed the “big, beautiful bill,” passed a key procedural vote over the weekend in the Senate largely along party lines, with all but two Republicans voting to advance it.

Follow live coverage here

The Senate is now debating the measure before taking a final vote. If the bill passes the Senate, it will then go back to the House for another vote and ultimately must be signed by President Donald Trump before becoming law. While changes could still be made and its passage isn’t certain, here are some of the key winners and losers under the latest version of the bill.

Winner: Corporations

The legislation makes permanent trillions of dollars in corporate tax cuts enacted in 2017 during Trump’s first term and expands other tax breaks for businesses. That includes permanently lowering the corporate tax rate to 21% from the 35% level before the 2017 tax cuts. The bill also extends or increases other tax breaks for business investments, like those on new machinery, equipment and research and development, which business groups have said would encourage business investments in the U.S. The bill also extends through 2033 tax incentives enacted in 2017 for businesses that invest in disadvantaged areas, called Opportunity Zones.

Loser: Younger generations

The tax cuts will add around $3 trillion over the next decade to the national debt, according to an analysis by the Congressional Budget Office. That means the U.S. will have to borrow more money to cover its expenses, requiring it to pay an estimated $600 billion to $700 billion in additional interest payments — money that the federal government could be spending on other priorities or longer-term investments, according to an analysis by the Center for a Responsible Federal Budget.

Corporations are set to benefit in the Republican One Big Beautiful Bill.Kevin Dietsch / Getty Images

The amount of money Americans pay toward interest on the country’s debt is expected to increase sharply in the coming years, totaling $78 trillion over the next 30 years and accounting for 34% of federal revenues, according to the Congressional Budget Office.

Higher debt could also drive up interest rates for both public and private borrowers because higher debt levels can raise concerns among investors about the U.S. government’s ability to ultimately repay its debt.

Winner: Higher-income households

The bill would greatly expand the amount of state and local taxes households are able to deduct from their federal taxes from the current cap of $10,000 to up to $40,000.

The biggest beneficiaries from the change would be households making between $200,000 and $500,000 a year and those who own property, because they are more likely to pay higher property and income taxes, according to an analysis by the Committee for a Responsible Federal Budget. It would also disproportionately benefit households in higher-tax states, like New York, New Jersey and California.

Wealthy households and business owners will also benefit from a permanent reduction in the estate tax. Under the legislation, heirs of estates valued at less than $15 million will not have to pay a tax on their inheritance. That cap is set to drop to $7 million in 2026.

Loser: Lower-income households

Provisions in the latest version of the bill would cause nearly 12 million low-income individuals to lose their health insurance over the next decade by cutting around $1 trillion from Medicaid, the health insurance program for poor and disabled people, according to the CBO. The Senate bill includes steeper cuts to Medicaid than an earlier version passed by the House.

Proposal To Cut Medicaid Cuts Draws Constituents To Capitol Hill In Opposition, Triggers Demands To Protect Working Families In House Budget
Provisions in the latest version of the bill would cause nearly 12 million low-income individuals to lose their health insurance.Tasos Katopodis / Getty Images for People’s Action file

The cuts would take a particular toll on Americans in rural areas who are more likely to receive their health insurance through Medicaid than those in urban or suburban areas. Researchers at Georgetown University found that 40% of children in small and rural towns receive their health insurance from Medicaid. The bill could also reduce the number of people who receive their insurance through the Affordable Care Act.

The version of the Senate bill released over the weekend also includes cuts to the Supplemental Nutrition Assistance Program, also know as food stamps, by requiring adults without a disability between the ages of 18 to 64 to work at least 80 hours a month unless they are caring for a child under the age of 10. The added requirements could lead to $300 billion in cuts to food stamp spending, according to the Congressional Budget Office.

Winner: Workers with income from tips and overtime

The legislation would carry through on a campaign promise by President Trump to exempt income from tips and overtime from federal income taxes. Tipped workers make up about 2.5% of the workforce and about 12% of hourly workers clock some overtime each year, according to an analysis by the Yale Budget Lab.

Both tax exemptions are structured as deductions that workers would claim when they filed their taxes the following year. The tax exemption would apply only to federal income tax, so workers would still have to pay Social Security and Medicare taxes on their income, along with any state or local taxes.

Among tipped workers, as many as 40% already don’t make enough money to have to pay federal income tax on any of their earnings so the benefit would be relatively limited, the Yale Budget Lab found.

Loser: Health care workers

Less funding for Medicaid and fewer people with health insurance would mean a drop-off in doctor’s office visits, prescription refills and medical procedures — and, as a result, fewer workers needed to support those types of services. That could lead to the loss of nearly 500,000 health care jobs over the next decade, according to an analysis by George Washington University and the Commonwealth Fund.

The Senate legislation seeks to mitigate some of that pain for rural health care providers, who care for a disproportionately high number of Medicaid patients, with a $25 billion fund for rural hospitals.

Winner: Fossil fuel companies

Oil prices surge 5% after OPEC’s surprise output cut; analysts warn of $100 per barrel
The bill strips away numerous provisions put in place during President Biden’s administration to shift energy consumption away from fossil fuels.Luke Sharrett / Bloomberg via Getty Images

Both the House and the Senate bill include wins for the fossil fuel industry, stripping away numerous provisions put in place during President Joe Biden’s administration to shift energy consumption away from fossil fuels. Both bills would delay a fee on excess methane pollution by oil and gas companies, roll back Biden-era rules to curb vehicle emissions and include provisions intended to speed the development of new fossil fuel projects.

The Senate bill also includes a new tax workaround for oil drillers that would enable many of them to avoid having to pay a corporate alternative minimum tax of 15%.

Loser: Clean energy companies and workers

Clean energy companies say the bill could cripple their businesses by stripping away tax subsidies and funding made available during the Biden administration. The Senate bill would go further than the earlier version passed in the House by imposing new tax penalties on wind and solar farm projects started after 2027, unless they meet certain requirements. That could jeopardize billions of dollars in investments in clean energy projects — along with the thousands of jobs that would come along with those projects, including in Republican-led states like Georgia and South Carolina.

Other provisions would reduce benefits for consumers buying electric vehicles, solar panels and appliances to make their homes more energy efficient.



Source link

Tags: beautifulBigbilllosesRepublicanswins
Previous Post

Trump shares handwritten note to Powell: ‘You have cost the USA A Fortune’

Next Post

Half of UK adults worry about painful death, survey reveals

Related Posts

Slander or 'trash-talking'? Drake-Kendrick Lamar feud has a day in court

Slander or ‘trash-talking’? Drake-Kendrick Lamar feud has a day in court

July 1, 2025
4
Scherzer finds his stuff in strong start

Scherzer finds his stuff in strong start

July 1, 2025
4
Next Post
death doula

Half of UK adults worry about painful death, survey reveals

  • Trending
  • Comments
  • Latest
Family calls for change after B.C. nurse dies by suicide after attacks on the job

Family calls for change after B.C. nurse dies by suicide after attacks on the job

April 2, 2025
Pioneering 3D printing project shares successes

Product reduces TPH levels to non-hazardous status

November 27, 2024

Hospital Mergers Fail to Deliver Better Care or Lower Costs, Study Finds todayheadline

December 31, 2024

Police ID man who died after Corso Italia fight

December 23, 2024
Harris tells supporters 'never give up' and urges peaceful transfer of power

Harris tells supporters ‘never give up’ and urges peaceful transfer of power

0
Des Moines Man Accused Of Shooting Ex-Girlfriend's Mother

Des Moines Man Accused Of Shooting Ex-Girlfriend’s Mother

0

Trump ‘looks forward’ to White House meeting with Biden

0
Catholic voters were critical to Donald Trump’s blowout victory: ‘Harris snubbed us’

Catholic voters were critical to Donald Trump’s blowout victory: ‘Harris snubbed us’

0
Renault to report $11.2 billion loss on Nissan stake in first half

Renault to report $11.2 billion loss on Nissan stake in first half todayheadline

July 1, 2025

Sri Lanka 2025 budget deficit revised down to 6.5-pct of GDP todayheadline

July 1, 2025

Killer Whales Offer Fish to Humans Like Cats Bring Mice todayheadline

July 1, 2025

July 2025: What’s in the sky this month? Venus tracks through Taurus, more Titan transits at Saturn, and Jupiter reappears

July 1, 2025

Recent News

Renault to report $11.2 billion loss on Nissan stake in first half

Renault to report $11.2 billion loss on Nissan stake in first half todayheadline

July 1, 2025
4

Sri Lanka 2025 budget deficit revised down to 6.5-pct of GDP todayheadline

July 1, 2025
2

Killer Whales Offer Fish to Humans Like Cats Bring Mice todayheadline

July 1, 2025
3

July 2025: What’s in the sky this month? Venus tracks through Taurus, more Titan transits at Saturn, and Jupiter reappears

July 1, 2025
4

TodayHeadline is a dynamic news website dedicated to delivering up-to-date and comprehensive news coverage from around the globe.

Follow Us

Browse by Category

  • Africa
  • Asia
  • Basketball
  • Business & Finance
  • Climate Change
  • Crime & Justice
  • Cybersecurity
  • Economic Policies
  • Elections
  • Entertainment
  • Entrepreneurship
  • Environmental Policies
  • Europe
  • Football
  • Gadgets & Devices
  • Health
  • Medical Research
  • Mental Health
  • Middle East
  • Motorsport
  • Olympics
  • Politics
  • Public Health
  • Relationships & Family
  • Science & Environment
  • Software & Apps
  • Space Exploration
  • Sports
  • Stock Market
  • Technology & Startups
  • Tennis
  • Travel
  • Uncategorized
  • Us & Canada
  • Wildlife & Conservation
  • World News

Recent News

Renault to report $11.2 billion loss on Nissan stake in first half

Renault to report $11.2 billion loss on Nissan stake in first half todayheadline

July 1, 2025

Sri Lanka 2025 budget deficit revised down to 6.5-pct of GDP todayheadline

July 1, 2025
  • Education
  • Lifestyle
  • Technology & Startups
  • About us
  • Contact
  • Advertise with Us
  • Privacy & Policy

© 2024 Todayheadline.co

Welcome Back!

OR

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Business & Finance
  • Corporate News
  • Economic Policies
  • Entrepreneurship
  • Market Trends
  • Crime & Justice
  • Court Cases
  • Criminal Investigations
  • Cybercrime
  • Legal Reforms
  • Policing
  • Education
  • Higher Education
  • Online Learning
  • Entertainment
  • Awards & Festivals
  • Celebrity News
  • Movies
  • Music
  • Health
  • Fitness & Nutrition
  • Medical Breakthroughs
  • Mental Health
  • Pandemic Updates
  • Lifestyle
  • Fashion & Beauty
  • Food & Drink
  • Home & Living
  • Politics
  • Elections
  • Government Policies
  • International Relations
  • Legislative News
  • Political Parties
  • Africa
  • Asia
  • Europe
  • Middle East
  • Artificial Intelligence
  • Cybersecurity
  • Emerging Technologies
  • Gadgets & Devices
  • Industry Analysis
  • Basketball
  • Football
  • Motorsport
  • Olympics
  • Climate Change
  • Environmental Policies
  • Medical Research
  • Science & Environment
  • Space Exploration
  • Wildlife & Conservation
  • Sports
  • Tennis
  • Technology & Startups
  • Software & Apps
  • Startup Success Stories
  • Startups & Innovations
  • Tech Regulations
  • Venture Capital
  • Uncategorized
  • World News
  • Us & Canada
  • Public Health
  • Relationships & Family
  • Travel
  • Research & Innovation
  • Scholarships & Grants
  • School Reforms
  • Stock Market
  • TV & Streaming
  • Advertise with Us
  • Privacy & Policy
  • About us
  • Contact

© 2024 Todayheadline.co