The federal budget law, “Big Beautiful Bill Act,” makes structural changes to Medicaid and tax policy that will reduce healthcare access for 11.8 million Americans (CBO) while unreasonably delivering over $1 trillion in tax cuts to the wealthiest 1% over the next decade (ITEP). According to the CBO, the law will add approximately $2.8 trillion to the federal deficit over the next decade and includes $793 billion in cuts to federal Medicaid spending. Voters should be aware of these consequences, though many may not be, as Congress has intentionally delayed the most punitive provisions until after the 2026 elections.
Independent analyses by the Kaiser Family Foundation and the Urban Institute estimate that 11 to 15 million people could lose Medicaid coverage under these changes, depending on how states respond. In Hudson County, New Jersey, approximately 171,000 residents, nearly one-quarter of the population, are currently enrolled in Medicaid (2023 data), putting our region at risk.
In addition, the budget includes over $3 trillion in tax reductions that disproportionately benefit high-income households and corporations. The Institute on Taxation and Economic Policy (ITEP) estimates that $1.02 trillion of these tax cuts will accrue to the top 1% of earners over the next decade. The CBO projects these combined fiscal policies will increase the national debt by $2.4 trillion by 2034…