The Republicans' "One, Big, Beautiful Bill" would hurt the finances of the lowest-income households while enriching the wealthiest ones, a new analysis found.

The GOP-backed One Big Beautiful Bill Act includes some big changes to the Supplemental Nutrition Assistance Program.

The greatest benefits would go to high-income households, while low-income families would see a much more modest boost, analyses show.

This is an audio transcript of the FT News Briefing podcast episode: ‘The economic impact of Trump’s budget bill’ Sonja Hutson Good morning from the Financial Times. Today is Friday, May 23rd, and this is your FT News Briefing.

In a virtual town hall held on May 21, 2025, Congressman Jared Moskowitz rails against the GOP budget bill that recently passed the House, warning of the cuts to Medicaid and SNAP and the disastrous impacts the bill will have on the American people.

Millions of low-income Americans, including families with children, could lose their food stamp benefits under House Republicans’ newly passed tax and spending cuts package, according to a Congressional Budget Office analysis released Thursday.

The House May 22 passed the fiscal year 2025 budget reconciliation bill, the One Big Beautiful Bill Act by a 215-214 vote. The legislation includes significant impacts to Medicaid and the Health Insurance Marketplaces.

The spending bill passed by the U.S. House increases a tax the richest private universities pay on their endowment investment gains, a move proponents say reins in "woke" schools but that critics say will wind up hurting the poorest students the most.