Trump’s Big Beautiful Bill Adds $3.3T Deficit, Alters Medicaid, Energy Policy

President Donald Trump is set to sign the expansive "Big, Beautiful Bill," a 900-page legislative package aimed at extending 2017 tax cuts, boosting border security and defense spending, and rolling back clean energy initiatives. The bill includes controversial provisions such as major cuts to Medicaid and nutrition programs, as well as increased funding for immigration enforcement, drawing criticism from left-leaning activists and figures like Elon Musk, who warns it will damage jobs and increase national debt. Key tax changes include raising the SALT deduction cap from $10,000 to $40,000, benefiting residents of states like New York and California, with the cap reverting in 2030. The bill also introduces new tax deductions for sound recording production expenses, a win for independent artists and the entertainment industry. The legislation passed the Senate narrowly, with Vice President JD Vance casting the tie-breaking vote, and faces divided opinions within the Republican Party as it heads to the House for approval. The bill is framed as a cornerstone of Trump's economic strategy to counteract the effects of his trade policies and to energize his political base ahead of the 2026 midterms.