Fiscal Policy

Behind the Scenes of Trump’s Tax and Spending Cuts: GOP’s Relentless Push to Cement Their Agenda

By Economics Desk | July 3, 2025

Congress rushed through an extensive tax and spending cuts bill, fulfilling Trump’s July 4 deadline but sacrificing millions in healthcare coverage and food assistance—revealing the true cost of GOP priorities.

In a dramatic display of political muscle, Congress delivered a sweeping tax and spending cuts bill to President Trump's desk just in time for his self-imposed July 4 deadline. This massive, 887-page legislation — hailed by Trump as “beautiful” — reflects a relentless Republican push to reshape federal spending and social programs at lightning speed. But beneath the celebratory headlines lies a harsh reality. The Congressional Budget Office projects that by 2034, nearly 12 million more Americans will lose health insurance coverage due to Medicaid cuts embedded in the bill. Additionally, around 3 million people will no longer qualify for...

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