Trump's 'Big Beautiful Bill' passed in the US House of Representatives. This will lead to changes in taxes, cuts in medical assistance, and stricter rules for immigrants. It will now go to the Senate and the President for approval.
Trump Big Bill: The much-discussed 'Big Beautiful Bill' of US President Donald Trump has moved closer to becoming law. This bill has passed in the lower house of the US Congress, the House of Representatives, and its final vote is now pending in the Senate. This bill will impact several major schemes, including taxes, spending, health insurance, immigration policy, and food stamps. Let's understand which groups will benefit and be harmed by this bill.
Bill Passed in the House of Representatives
The 'Big Beautiful Bill' was presented for a vote in the House of Representatives. It was passed with 219 votes in favor and 213 against. It will now be placed in the Senate, and after approval there, it will go to the President for signing. After this process, the bill will become law.
What is this bill?
This is a comprehensive domestic policy bill that proposes tax relief along with cuts in several welfare schemes. It includes provisions that affect health insurance, food stamps, medical assistance, immigrant rights, and government subsidies.
Impact on Health Insurance Holders
After the bill is passed, it will be mandatory to verify eligibility for health insurance programs like Medicaid. Under this, the paperwork process will have to be completed every few times. Due to this cumbersome process, an estimated 12 million people could be excluded from health insurance by 2034.
Impact on Obamacare
According to the bill's terms, the funds allocated to hospitals in rural areas will be cut, which could lead to some hospitals closing or limiting their services. Obtaining insurance coverage will become difficult. Stricter verification processes will be implemented to receive subsidies, and the auto-enrollment system will be shut down. This could exclude millions of people from insurance.
Impact on the Immigrant Community
This bill could increase difficulties for the immigrant class. Work permits, Temporary Protected Status (TPS), and the process of seeking asylum will become more difficult. The fees for appealing in court will increase. Along with this, many immigrants will now be considered ineligible for subsidies and government schemes.
For Indian immigrants, another major concern is that a 5 percent tax will now be levied on the money sent to their families in India (Remittance). This could affect the domestic financial assistance of millions of Indian immigrants.
Impact on Food Stamps
The bill proposes significant cuts in schemes like food stamps. This will also affect illegal immigrants. Along with this, state governments will have to pay a portion of the operating costs of these schemes for the first time.
It will also affect small grocery store owners because the cuts in food stamps could reduce their sales.
Benefiting the Rich
While this bill could have a negative impact on the poor and middle class, America's wealthy citizens will directly benefit from it.
According to the bill, the top 20 percent of the wealthy will receive approximately 60 percent of the total tax relief. These groups will receive an average tax relief of up to 11 lakh rupees, while the poor class will only benefit around 12 thousand rupees.
In addition, tax benefits on solar energy projects will be terminated by 2027, which could affect environmental investments.
