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International Business Times UK
International Business Times UK
World
Shyna Mae Deang

Trump's 'Big Beautiful Bill' Delivers Tax Cuts for Wealthy, Deep Welfare Cuts for Millions: Who Wins and Who Loses?

Donald Trump Tax Cuts Medicaid Inequality Republican
Donald Trump (Credit: Gage Skidmore/Flickr / Creative Commons)

The US Senate passed the One Big Beautiful Bill Act on 1 July, advancing a major Republican tax and spending package that sharply benefits high earners while cutting public support for millions.

Nicknamed the 'Big Beautiful Bill' by former President Donald Trump, the legislation includes £3.55 trillion ($4.5 trillion) in tax cuts and nearly £2.36 trillion ($3 trillion) in spending reductions over the next decade.

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