Washington, D.C. — Today, the U.S. Senate Committee on Finance released text for its version of the One Big Beautiful Bill Act. In response, Neera Tanden, president and CEO of the Center for American Progress, released the following statement:
Rather than address the high cost of living that’s squeezing Americans, the Senate just unveiled a budget bill that will make life less affordable. The plan makes cuts to Medicaid that will cause even more people to lose coverage than would under the House proposal. Like the House plan, the bill also rips away food assistance from millions while shifting costs to states, however it does so by imposing additional paperwork requirements on parents, veterans, the homeless, and children aging out of foster care. The bill will also increase utility bills and put hundreds of thousands of good-paying jobs that are growing America’s energy supply at risk—all to give the wealthiest Americans a massive tax break. By exploding the debt, economists expect this bill will shrink the economy over the long run while putting upward pressure on interest rates that make it more difficult for Americans to afford to buy a home and small businesses to invest in their long-term growth. Americans must speak out and demand their senators reject this dangerous proposal.
For more information or to speak with an expert, please contact Colin Seeberger at [email protected].