12/29/2025 | Press release | Distributed by Public on 12/29/2025 09:11
OBBB provides more in tax breaks to top 1% than to bottom 80% COMBINED, and is expected to raise taxes on poorest 40% of Americans
Donald Trump's first year back in office has been a catastrophe, and in just two days, more provisions in his "signature achievement" - the so-called "One Big Beautiful Bill" (OBBB) - are set to take effect, putting health care and food assistance on the chopping block for millions of working families. Despite being elected on the promise of lowering prices on "Day One," Trump's billionaire-first budget bill gives massive tax breaks to his wealthy donors while leaving working families in the dust.
In response, DNC Chair Ken Martin released the following statement:
"When Donald Trump signed his Big Ugly Bill into law, he cemented the Republican Party as the party of billionaires and special interests - not working families, farmers, or small business owners. While millions of working families are already being squeezed to afford groceries, utilities, and rent, Trump chose to strip them of their health care and food assistance just so he could give his ultrawealthy friends and donors an extra buck. Make no mistake: Trump's 'signature achievement' will be the nail in the coffin for the Republican majority when voters head to the polls next November."
Trump and Republicans have desperately tried to gaslight Americans into believing that their Big Ugly Bill is a "working families tax cut," but let's be clear: The OBBB provides more in tax breaks to the top 1% than to the bottom 80% COMBINED, and is expected to raise taxes on the poorest 40% of Americans. The "no tax on tips" and "no tax on overtime" provisions are limited to only a small handful of workers - who will be hit by the devastating health care and food assistance cuts in the bill. Despite Republicans' claims about eliminating taxes on Social Security, the truth is that two-thirds of seniors already don't pay taxes on their Social Security income. Every single one of these provisions is temporary while his massive tax cuts for billionaires are permanent.
The OBBB guts Americans' health care - including $1 trillion in cuts to Medicaid, putting over 300 rural hospitals at risk of shuttering - and is expected to cause 10 million people to lose their health insurance. That's on top of the 4.2 million Americans who will lose their health insurance because of Republicans' refusal to extend the enhanced Affordable Care Act premium tax credits - and the 22 million Americans who will see their premiums skyrocket by an average of 114%.
Millions of families are also expected to lose access to critical food assistance. 22.3 million households will lose some or all of their SNAP benefits, impacting millions of hungry children..
Trump's budget is the most unpopular bill on record - and it's no wonder that an overwhelming majority of Americans oppose it. By a more than two-to-one margin, voters believe Trump's budget will leave their families worse off, and two-thirds say it will primarily benefit the wealthy while hurting working families.
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