The One, Big, Beautiful(?) Bill
from What's Up With Money?! Hosted by What's Up With Money?!
We take a look at this massive piece of legislation signed into law in early July 2025. Key Question: Does this legislation help us in regards to The Future Poor or does it only make it worse? The end of income tax on Social Security? Not exactly. You might get a tax credit, but the tax is still there. Medicaid? The Bill will move almost 11 million seniors and children off Medicaid in the next few years. CHIP? Child Health Insurance Program is part of the $1 Trillion reduction of benefits. 16 Million - Estimate of the number of people that will be uninsured after the OBBB goes into effect. Most of this number is the elderly, children, disabled, and other vulnerable communities. Food? 20% of the people on SNAP (food stamps) are seniors over the age of 60 that depend on the program for food and up the age for work requirements. Social Security runs out sooner? Many estimate that this will speed up Social Security's insolvency from 2035-6 to 2032-3. Be sure to check out Jon's new book, The Future Poor.
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