In this episode of Budget Watchdog All Federal, host Steve Ellis and Director of Research Josh Sewell break down President Trump's massive reconciliation package that passed the House by the razor-thin margin of 215-214. The "one big beautiful bill" extends the 2017 Tax Cuts and Jobs Act, exempts tips and overtime from taxes, raises the debt ceiling by $4 trillion, and makes significant cuts to safety net programs like Medicaid and SNAP. While the Congressional Budget Office estimates the bill adds $3.3 trillion to the deficit, the real cost could reach $5.2 trillion when accounting for budget gimmicks.
