The leader of the majority of the US Senate, John Thune, Rs.d., speaks to reporters in Capitol when legislators are working on “One Big Beautiful Bill Act” on June 25, 2025 in Washington (photo of Joe Raedle/Getty Images)
One Big Beautiful Bill Act of President Donald Trump is sold for promises that he will save money. However, according to a report published last week, his cuts in the safety network will cost Ohio and other states much more than saved.
Deep cuts of healthcare as part of Medicaid and food support as part of an additional nutritional lend a hand program or SNAP will not only harm the most sensitive, Report Through the Commonwealth Fund and George Washington University speaks. He would also poison jobs, suppress state economies and reduce tax revenues that state and local governments must act.
The analysis states that the act that stands in front of the Republican date to the transition of July 4 means the destruction of 1.2 million jobs in the United States to 2029 and by reducing state economy by $ 154 billion, says analysis.
The proposed changes of SNAP can flood an overloaded Ohio system
Some leaders Ohio said that the changes proposed for Snap Yes He was already overwhelmed by an overloaded system And boost hunger among children, the elderly, the disabled and the poor working. They say medicaid cuts would cost 770,000 mainly their health insurance working in Ohioan.
The Report of the Commonwealth-George Washington University Foundation claims that the Bill’s Blast radius is much wider.
He says Ohio will lose $ 4.5 billion in federal financing. State GDP or economic production would drop by $ 5.2 billion. State and local tax revenues would also fall by $ 3.66 billion by 2029.
He added that the loss of work in Ohio, of them about half of them in the health sector would be 44,700, or 0.8% of the workforce.
Trump and Congress Republicans justify cuts because they would reduce federal expenses on Medicaid and slammed $ 1.2 trillion in 10 years. But this does not take into account direct and indirect damage that will be caused to a wider economy.
“Our study reveals subsequent, less discussed consequences of budget cuts: damage to state economies and the loss of hundreds of billions of dollars, amounts that significantly exceed all federal savings,” says the Washington Fund report Commonwealth Fund-University. “Over a million people will lose their jobs, especially in the healthcare sector. Hospitals, clinics and nursing homes will be closed, many of them in rural communities and low income. The need to compensate for the loss of billions of dollars in federal financing will mean that state and local governments will have to consider cutting in other public services, such as education or infrastructure, because they lost dollars in the scope of taxes from local taxes in the field of economic taxes. “
Meanwhile, the economic justification for the proposed reduction of Trump taxes is doubtful.
They are strongly in favor of the richest Americans. WITH USD 4.6 trillion In tax reductions within 10 years, the Wharton University of Pennsylvania school estimated that 70% of benefits will go to “10% of the income division. ”
Analysis of the Washington Fund University of Commonwealth said that the cuts under the Republican account would drag money from the pockets of poor families, while it throws it into the rich-and when we fall all over our debt.
“By crossing security programs, the account budget bill reduces resources for low -income households (the lowest 10% of people) with an average of USD 1,600,” he said. “At the same time, account reductions increase high -income household resources (the highest 10% of people earning) by $ 12,000. Despite the reduction of expenses, the bill would increase the federal deficit by $ 3 trillion, including about $ 500 billion in interest.”
Tax reductions for the prosperous for a long time are sold in promises that they will squeeze the economy and everyone will benefit. But there is little evidence to support this.
For example, Trump’s tax reductions from 2017 were not even half as much as those considered on the basis of one Big Beautiful Bill Act. Nevertheless, they Added 1 trillion to $ 2 trillion to the deficitEstimates of the Tax Policy Center.
Trump claimed that the reduction of corporate taxes, which were part of the package, would boost USD 4000 to median household income. But it turned out that he did not add anything for families earning USD 114,000 a year or less, while this led to a huge boost in executive salaries, the budget and political priorities reported.
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