$ 1K for newborns, immigration and tax cuts: What is in Donald Trump’s ‘One Big Beautiful Bill’
President Donald Trump’s “A Bada Beautiful Bill Act” on Monday with 17-16 votes became narrowly upgraded through the budget committee. The Bill is the result of the weeks of intensive interaction between the Sadan leadership and fiscal conservators by Trump colleagues, the Bill was implicated by voters.It stopped on Friday when many Republicans broke the rank, causing concerns about the increasing deficit. But the latest amendment over the weekend, including deepening of intensive spending and more aggressive boundary enforcement structure, was brought back to the board.Speaker Mike Johnson is now aiming to vote a full house before Memorial Day, hoping to capitalize on the party’s speed and give a legislative victory before the summer holiday. If passed, the bill will mark one of the most ambitious Republican policy in decades, which touches almost every sphere of federal regime from healthcare and education to tax policy and energy.The 1,100-Page proposal serves as the backbone of Trump’s second-task domestic agenda, tax relief, immigration crack, entitled improvement, and a single, rapidly growing budget reconciliation bill combines defense spending.
The main attractions of the bill here are:
Tax deduction And economic measures
The center of the bill is the 2017 tax deduction and expansion of the Jobs Act, which makes permanent deduction in personal and corporate tax rates. The new provisions include alignment with the promises of Trump’s campaign, tips, overtime and exemption from taxes on some auto loan interests. The bill proposes an increase of $ 2,000 for standard deduction for joint filers and an increase of $ 500 to the Varishing Credit, making it to $ 2,500.Estate tax exemption will increase to $ 15 million.To compensate for some revenue deficit, the law suggests to cancel or phase the clean energy tax credits launched during the tenure of President Biden. However, estimates indicate that the bill may add between $ 3 to $ 5 trillion to the national debt in the next decade.
Immigration and border security
The bill allocates $ 46.5 billion to resume the construction of the US-Maxico border wall, which aims to complete the primary wall and additional obstacles of 700 miles. It provides funds to appoint 3,000 new border petrol agents, 5,000 customs officers and 10,000 immigration and customs enforcement officers. A notable provision, aligning the country with countries like Australia and Iran in this regard, is accused of $ 1,000 fee, for the first time in the history of America.The scheme increases the ability to remove one million migrants annually and detain 100,000 individuals in detention centers. Additional fees are proposed for applications related to various immigration, including $ 3,500 fee for sponsors of unaccounted children.
Medicade and Social Program Reform
An important aspect of the bill is the introduction of work requirements for the Medicade recipients. Competent-body adults without dependents will require at least 80 hours per month, education or service to qualify. These requirements are scheduled to begin on January 1, 2029. Additionally, individuals with houses worth more than $ 1 million will be disqualified for Medicade.Changes will also be seen in supplementary nutrition aid program (SNAP), which requires states to start 5% profit cost and 75% administrative costs in FY 2028. Work requirements for food assistance will extend to individuals by the age of 64, and the discount for parents will apply to children under seven years of age.
‘Maga’ eats for newborns
The bill introduces the “Money Accounts for Growth and Advancement” accounts, providing a federal contribution of $ 1,000 for infants born between January 1, 2024 and 31 December 2028. Families can contribute up to $ 5,000 annually, to reach the age of 18 for education, training, or the first time for home purchase, use account holders.
Defense and national security expenses
This law is about $ 150 billion for the Defense Department and National Security Initiative. This includes “Golden Dome for America,” a proposed missile defense shield, $ 21 billion to recreate the supply of ammunition and $ 34 billion to expand the Navy fleet. An additional $ 9 billion has been allocated for Services Housing, Healthcare and Special Salary.
Education and student loan overhaul
A comprehensive improvement of the student loan program is proposed, consolidating the existing repayment schemes into two options: a standard plan and low liberal income-based repayment assistance scheme with more than 10 to 25 years of payment. This bill wants to cancel rules that facilitate the cancellation of loans for borrowers cheated by their colleges. In addition, it shows tax growth up to 21% on some university arrangements.
