Ledger · Second term · № 248
The tax bill would be for working people, not the wealthy
Broken“[paraphrase] This bill is for the workers — the rich will not benefit.”
- Promised
- , Remarks promoting the One Big Beautiful Bill Act
- Re-promised
- 10 times with a fresh deadline
- Topic
- Taxes & deficit
- Era
- Second term
What happened
The DNC's 200-day review characterized the law as the largest upward wealth transfer in more than 40 years, pairing permanent high-end and business tax cuts with roughly $1 trillion in health and nutrition program reductions, and adding over $3 trillion to the debt over a decade. The tips, overtime and senior deductions aimed at workers all expire after 2028 while the business provisions do not.