House Republicans have passed Trump’s One Big Beautiful Bill Act. After having spent decades covering Republican domestic policies, I have a pretty jaundiced view of their intentions. But this bill is so cruelly regressive that it shocked even me. This bill is truly unprecedented in the extent to which it takes away from the have-nots and gives to the ultra-haves. It slashes Medicaid, taking health care away from millions. It slashes food stamps, ensuring that many will go hungry. At the same time it gives huge tax cuts to the wealthy.Those of us who followed the legislation knew that it would be highly regressive. New estimates from the Congressional Budget Office, a non-partisan agency of economic technocrats, confirm in detail just how bad the OBBBA is.C.B.O.’s numbers, released yesterday, are startling. Here’s the percentage change in households’ purchasing power by decile of the income distribution caused by the OBBBA:That 4
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