US leader John Tun, Rs.D., spoke to reporters in Capitol, while MPs work on a “big beautiful bill” on June 25, 2025 in Washington, Colombia District (Photo by Joe Riddl/Getty images)
The law of a large beautiful bill of President Donald Trump is being sold with promises that he will save money from Ohowan. But his safety cuts will cost Ohio and other countries much more than they will save, according to a report published last week.
Deep healthcare cuts under Medicaid and to support foods under the Additional Food Assistance Program or SNAP would not only hurt the most vulnerable report George Washington says from the Community and University Fund. It will also delete jobs, suffocate state economies and reduce the tax revenue that state and local authorities must work.
The bill, which faces a republican independent period on July 4 for passing, is to destroy 1.2 million jobs in the United States by 2029 and to shrink state economies with $ 154 billion, the analysis said.
Some Ohio leaders have said that the changes suggested for Snap conquers an already overwhelmed system And they increase hunger among children, the elderly, the disabled and the working poor. Medicaid is said to be cut would cost 770,000 mostly working Ohioans for their healthS
The Community Foundation Foundation Foundation Foundation-Jorge Washington states that the radius of the blast of the bill is far wider than this.
Ohio will lose $ 4.5 billion in federal funding, says. GDP of the state or economic production will drop by $ 5.2 billion. State and local tax revenue will also drop by $ 3.66 billion by 2029, the statement said.
Job losses in Ohio, approximately half of them in the health sector, will be 44 700, or 0.8% of the workforce, she added.
Trump and Congress Republicans justify the cuts because they would collapse federal costs for Medicaid and contact $ 1.2 trillion in 10 years. But this does not take into account the direct and indirect harm that will be made for the wider economy.
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“Our survey reveals another, less discussed consequence of budget reduction: the damage to state economies and the loss of hundreds of billions of dollars, amounts that significantly exceed all federal savings,” the More Than A Million Will Lose The Jobs, Particularly in the Heae and Nursing Homes Will Close, Many of the Rural and Low-Income Communities. Services, Such As Education Or Infrastructure, Just As They Lose Billions of Dollars in State and Local Tax Revenue Because of the Economic Dislocation.
In the meantime, the economic justification for the Trump proposed reduces taxes is doubtful.
They are strongly entitled in favor of the largest Americans. To $ 4.6 trillion When tax reduction in 10 years, the University of Pennsylvania Wharton Wharton, the school has estimated that 70% of the benefit will go to “Top 10% of income distributionS ”
George’s University’s analysis in George Washington said that the cuts on the Republican bill would suck money from the pockets of poor families as it brings it into those of the rich-as it drops more deeply into the debt.
“By reducing network safety programs, a house budget bill reduces low-income household resources (lowest 10% of winners) on average by $ 1600,” the statement said. “At the same time, the decrease in taxes of the bill increases high-income household resources (the highest 10% of winners) by $ 12,000. Despite the cost reduction, the bill will increase the federal deficit by $ 3 trillion, including about $ 500 billion higher interest costs.”
Reducing taxes for wealthy has long been sold in promises that they will point to the economy and everyone will benefit. But there is little evidence to support this.
For example, the Trump tax reduction of 2017 was not even half the amount of Big Beautiful Bill provided under the Big Beautiful Bill Act. However, they Add $ 1 trillion to $ 2 trillion to deficitThe Tax Policy Center assesses.
Trump has said that corporate tax reductions, which are part of the package, will add $ 4,000 to the average household income. But it was found that it was not at all adding anything to the families who make $ 114,000 a year or less, while this led to a huge increase in the salaries of the executive branch, the budget center and political priorities reported.
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