🔥 The U.S. House of Representatives just passed a controversial tax and spending bill that’s dividing the nation—and sparking fierce debates about economic fairness. Critics say it’s a double whammy: ballooning the national debt while slashing support for low-income families. Here’s the breakdown.
💸 The bill, dubbed the 'One, Big, Beautiful Bill Act,' extends Trump-era tax cuts for corporations and high earners, adds new breaks for tips and car loans, and pumps funds into defense and border security. But it also axes Medicaid funding and clean energy incentives, leaving millions at risk of losing healthcare and food assistance.
📉 Economists warn the plan could add $3 trillion to the U.S. debt—already a staggering $36.2 trillion—while cutting resources for the poorest 10% of households. 'This isn’t fiscal responsibility—it’s fiscal chaos,' said budget expert Maya MacGuineas. Moody’s recently downgraded U.S. credit ratings, citing debt fears.
👥 Political fireworks are erupting too. Democrats like Chuck Schumer call it a 'billionaire boondoggle,' while even some Republicans worry cuts to Medicaid could backfire in their own districts. 'This puts Trump in a tight spot with his base,' analyst Darrell West told Xinhua.
⚡ What’s next? The bill heads to the Senate, where its fate is uncertain. But one thing’s clear: the debate over taxes, debt, and inequality is heating up—and young voters are watching closely. 🌍💡
