00:00President Trump signed the so-called One Big Beautiful Bill into law on the 4th of July during a White House Independence Day ceremony, the hallmark achievement of his second term.
00:11The sweeping legislation extends significant tax cuts for working and affluent Americans, such as making permanent the 2017 individual cuts, expanded child tax credits, and deductions for tips and overtime.
00:24However, it also slashes over $1 trillion from social safety net programs, imposes stricter work and eligibility requirements on Medicaid and SNAP, and is projected to leave nearly 12 million more people uninsured within a decade.
00:39Critics warn the bill disproportionately benefits the wealthy and major corporations while harming low-income families, rural hospitals, and the clean energy sector, and also drives the national debt higher by billions.
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