Trump’s “Beautiful” Bill Is Now Law—How Will It Change Life for American Families?

Trump’s “Beautiful” Bill Is Now Law—How Will It Change Life for American Families?

By Lena
Lena

Tax Relief and Savings

Tax Relief and Savings (image credits: unsplash)
Tax Relief and Savings (image credits: unsplash)

The law increases the Child Tax Credit from $2,000 to $2,200 per child, with a larger refundable amount starting in 2025. It creates “Trump Accounts,” giving $1,000 government-funded investment accounts to newborns from 2025 to 2028. The bill also allows federal tax deductions for overtime pay, directly benefiting service industry workers.

Medicaid Cuts and Work Requirements

Medicaid Cuts and Work Requirements (image credits: unsplash)
Medicaid Cuts and Work Requirements (image credits: unsplash)

The law cuts more than $1 trillion from Medicaid over the next ten years. Adults receiving Medicaid must work at least 80 hours per month and verify eligibility twice a year to keep their coverage. Millions could lose healthcare, particularly in low-income and rural areas.

Student Loan Changes

Student Loan Changes (image credits: unsplash)
Student Loan Changes (image credits: unsplash)

The law eliminates several federal student loan repayment options and creates two new plans. Borrowers may see higher monthly payments, and forgiveness is possible only after up to 30 years. Lifetime borrowing caps for graduate and professional students make it harder for some people to finance advanced education.

Stricter Food Assistance

Stricter Food Assistance (image credits: wikimedia)
Stricter Food Assistance (image credits: wikimedia)

The Supplemental Nutrition Assistance Program (SNAP) now has tougher work requirements and more frequent eligibility checks. More than 2 million people are expected to lose benefits, increasing the risk of food insecurity.

Boosted Defense and Border Security

Boosted Defense and Border Security (image credits: unsplash)
Boosted Defense and Border Security (image credits: unsplash)

The law provides an extra $350 billion for defense and border security, including expanded border wall construction and more immigration enforcement efforts.

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