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Trump Signs Bill Extending Tax Cuts, Cutting Medicaid, SNAP

8/21/2026

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Trump signs tax law
  • President Donald Trump signed the One Big Beautiful Bill Act in 2025, extending 2017 tax cuts and cutting Medicaid and SNAP benefits.
  • A July 2026 Politico poll found one-third of Americans say the law has worsened their financial situation.
  • Republican House Minority Whip Tom Emmer called the law the greatest victory for working families.
  • Democrats on committees said they will investigate Donald Trump’s cryptocurrency holdings if they regain control.
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