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Trump's Tax Cuts Spark Economic Growth Concerns

7/13/2025

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Summary

Story summary

On July 4, President Trump enacted the "One Big Beautiful Bill Act," which extends 2017 tax cuts while slashing Medicaid and food stamp funding. Republicans tout it as an economic booster, but experts warn of negligible growth and a rising national debt, raising alarms about potential job losses and the stability of the social safety net.

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Story summary

On July 4, President Trump enacted the "One Big Beautiful Bill Act," which extends 2017 tax cuts while slashing Medicaid and food stamp funding. Republicans tout it as an economic booster, but experts warn of negligible growth and a rising national debt, raising alarms about potential job losses and the stability of the social safety net.