Koreans corporations grapple with substantial hardships and modest advantages due to Trump's huge, lavish tax bill
The One Big Beautiful Bill (BBB) Act, recently signed into law by President Donald Trump, marks a significant milestone in the administration's agenda, encompassing key priorities in immigration enforcement, tax policy, and spending shifts impacting the social safety net.
The BBB Act earmarks a historic $165 billion for the Department of Homeland Security (DHS), reinforcing Trump's mandate to bolster border security and deport criminal illegal aliens. Notable allocations include $46.5 billion for border wall construction, $14.4 billion for transportation related to removals, and $12 billion in reimbursements to states opposing open-border policies. The bill also funds the hiring of 3,000 Customs Officers and 3,000 Border Patrol agents, and invests in new technology, surveillance, and border patrol vehicles.
In terms of tax policy, the BBB Act extends the 2017 Tax Cuts and Jobs Act, making most of the previous tax cuts permanent. The legislation also includes provisions like eliminating taxes on tips, reflecting scaled-down versions of Trump's campaign priorities.
However, the bill's social safety net and spending cuts have drawn criticism. The BBB Act enacts significant cuts to health care and nutrition programs, notably restrictions on Medicaid and the Supplemental Nutrition Assistance Program (SNAP). These cuts are intended to help fund border security and defense increases but have been projected by the Congressional Budget Office (CBO) to result in millions losing health insurance coverage.
The Congressional Budget Office estimates the bill will add approximately $3.4 trillion to the federal deficit over the next decade. While the Trump administration disputes these forecasts, the scale of new spending combined with permanent tax cuts raises concerns about long-term debt sustainability.
The BBB Act represents a significant restructuring of the social safety net, reducing federal support for health care and nutrition programs for vulnerable populations. This aligns with the administration’s goal to reprioritize spending but has drawn criticism for potentially increasing hardship among low-income Americans.
The BBB Act clearly prioritizes border security, immigration enforcement, and national defense, reflecting President Trump's focus on law and order and reducing illegal immigration. Investments in technology, personnel, and infrastructure signal a robust expansion of DHS capabilities.
Passed narrowly in the Senate with Vice President JD Vance breaking a 50-50 tie, the bill used budget reconciliation to expedite approval, which limited the scope of included policies and led to the removal of some provisions initially proposed.
In summary, the BBB Act significantly reshapes federal spending and taxation by making tax cuts permanent, massively funding border security and immigration enforcement, and cutting social safety net programs. While it fulfills major Trump administration priorities, it also substantially increases the national debt and reduces health and nutrition benefits for millions, thus having broad and contentious implications for the U.S. fiscal and social policy landscape.
The BBB Act's funding of $165 billion for the Department of Homeland Security emphasizes Trump's focus on border security and national defense, particularly with $46.5 billion allocated for border wall construction and $14.4 billion for transportation related to removals (finance, defense).
However, the BBB Act's cuts to Medicaid and the Supplemental Nutrition Assistance Program (SNAP) have drawn criticism as they are projected to result in millions losing health insurance coverage, potentially increasing hardship among low-income Americans (politics, general-news).
