In the early hours on May 22, the House Republican majority passed a budget reconciliation bill that now heads to the Senate. The Trump-Republican reconciliation bill, officially renamed the “One Big Beautiful Bill Act” (H. Con. Res. 14), would make massive cuts to essential programs and services to pay for trillions in tax cuts to billionaires and provide approximately $150 billion in funding for mass deportations. This bill does nothing to lower costs for families but instead hands out massive tax breaks to Trump’s wealthy allies and major corporations—at the expense of women, children and families. In order to pay for these new tax giveaways for billionaires and mega-corporations, Republican leaders in Congress are proposing sweeping cuts to basic needs programs that women, women of color, children and families rely on, including the biggest cut to Medicaid and nutrition assistance in history, as well as significant cuts to student aid programs.
The Republican claim that this bill will pay for itself through increased economic growth is demonstrably false: the new tax breaks for billionaires and big corporations in the bill would result in the loss of at least $4 trillion in revenue – adding roughly $2.3 trillion to the federal deficit.1 Not only is this handout to the wealthiest an enormous waste of money that could be invested in everyday women and families, but it would actively harm the families who rely on the programs being cut to help pay for the massive cost of this bill. The result will be that American families, who are already facing economic hardship due to inflation and Trump’s chaotic tariff policies, will see their costs continue to rise and their economic supports ripped away. Families will feel this economic pain in the immediate future as well as for generations to come.
Instead of cutting critical programs to fund tax breaks for the wealthy, Congress should focus on lowering costs for everyday people, investing in underserved communities, and ensuring that the tax system and economy work for everyone—not just those at the top.
This fact sheet details the impact of the proposed cuts, including:
- Tax cuts for billionaires and big corporations
- Proposed cuts to health care
- Attacks on Planned Parenthood and access to reproductive health care
- Attacks on health care for immigrant families
- Harmful cuts to nutrition assistance programs
- Increased higher education costs
- Threats to our democracy