Reconciliation

Americans are already struggling with high prices and economic uncertainty thanks to President Donald Trump’s sweeping tariffs. Congressional Republicans are proposing to make life even less affordable by passing the One Big Beautiful Bill Act. This legislation would enact the largest cuts to Medicaid and food assistance in American history, increase gas and electricity prices, and add trillions to the federal debt while providing new tax breaks that overwhelmingly benefit the wealthiest Americans. If enacted, the bill would initiate the largest transfer of wealth from working-class Americans to the ultrawealthy in history. The Center for American Progress is working to highlight the countless harms Americans would suffer under congressional Republicans’ extreme tax and budget proposals.

The U.S. Capitol Building.
The U.S. Capitol Building is seen in Washington, D.C., on May 17, 2025. (Getty/Kevin Carter)
Related Department
Economic Policy

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Trump and Congressional Republicans’ Plan To Pump More Money Into ICE and Border Patrol Is a Missed Opportunity To Help Americans Article
The U.S. Capitol building is seen.

Trump and Congressional Republicans’ Plan To Pump More Money Into ICE and Border Patrol Is a Missed Opportunity To Help Americans

Rather than funneling more money into immigration enforcement and border protection, Congress should be ensuring Americans can afford basic necessities such as health care and groceries.

Bobby Kogan

Stabilizing and Strengthening State Funding for Public Higher Education After the Big Beautiful Bill Report
A hand raising a graduation cap

Stabilizing and Strengthening State Funding for Public Higher Education After the Big Beautiful Bill

Despite steep federal funding cuts in the Big Beautiful Bill, states can continue to support public higher education by creating progressive state tax revenue streams and strengthening rainy day funds to support postsecondary student success and degree completion.

Sara Partridge

Overturning D.C.’s Tax Law Would Infringe on Common State Tax Practices and Threaten the District’s Budget and Fiscal Autonomy Article
Traffic moves along Pennsylvania Avenue as the sun rises behind the U.S. Capitol.

Overturning D.C.’s Tax Law Would Infringe on Common State Tax Practices and Threaten the District’s Budget and Fiscal Autonomy

Overruling the D.C. Council’s tax law flouts a common approach to the tax code, depriving the jurisdiction of revenue, raising child poverty, and throwing the tax-filing system into disarray in the middle of tax season.

Lily Roberts, Corey Husak

7 Ways the Big Beautiful Bill Cuts Taxes for the Rich Article
A pair walks past a large superyacht.

7 Ways the Big Beautiful Bill Cuts Taxes for the Rich

Overall, the Big Beautiful Bill will harm poor Americans and raise the incomes of rich Americans—driving gains for the rich through cuts to marginal tax rates and the estate tax, along with tax breaks for businesses, business owners, and investors.

Corey Husak

How Congress can still get health care subsidies in place for 2026 In the News

How Congress can still get health care subsidies in place for 2026

In an op-ed published by STAT, Emily urges Congress to extend the enhanced tax credits into 2026 while also outlining several other concrete actions the federal government could take to make health care more affordable.

STAT

Emily Gee

Residents of 49 States and Washington, D.C., Face Increasing Electric and Natural Gas Bills Report
Power lines in the sky

Residents of 49 States and Washington, D.C., Face Increasing Electric and Natural Gas Bills

This updated utility rate tracker shows rate increases or proposals set to go into effect over the next two years that, coupled with Trump administration actions, could mean that households and businesses see even higher utility bills over the next few years.

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