The Lowdown On The Big Beautiful Bill: What It Means for Your Wallet, Health, and the Nation

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Transcript

SPEAKER_00: 0:01

Today, it's being called the biggest bill of the decade. It's the big, beautiful bill. But how beautiful is it? Today, we're going to unpack the beauty behind this bill and look at how this can affect your paycheck, legislation. How does this affect politics and national debt and potentially your health care? Let's talk about it. Welcome back to Kyle Talks, where I'm Kyle and we talk. Yo, yo, what it do, we do, we do. I am, look, I am, before we jump into this episode, it's 4th of July. Look, I got to say, I have taken notes on this extensively. I want to make sure this is the most... Guys, it's 4th of July. Gentlemen! I'm feeling freedom AF right now. Yeah, I'll say this before we jump into this episode. There's a lot to it. I will say this. I am happy I was born in the land of the USA, baby. Happy 4th of July to all you Americans. And for my one Netherlands friend... How you doing? Hope you're doing well. Welcome back. Your seat's right there. We got some LaCroix and some White Claw on top. May I suggest Pamplemousse? It's really good. I'm excited to have you guys here today. Before we usually do these things, you guys know we do something called a boss segment. The podcast is focused on talking to people ordinary people who've done extraordinary things the real main focus of the podcast is having conversations with people who don't look the same vote the same eat the same pray the same believe the same etc etc dress the same the podcast is about those people connecting and having conversations we've lost the art of having conversations and guess what We over here at Kyle Talks are going to change that. That's what we're doing to change that. So if that sounds interesting to you, please go ahead and review and download the episode, share it. And you can be a part of this community that we're building where you don't look, believe, see, feel, eat the same. But we have amazing conversations. For example, oh, this person doesn't literally thinks the opposite of everything I ever thought that I think. I'm going to go see his band tomorrow night, maybe over a couple of brews. That's the goal. That's what we want at the Kyle Talks podcast. That is our goal. And by you sharing, reviewing, and just by simply listening, you're participating in that. So thank you. Enough of e-advertisements out the way. We got a big, beautiful bill to talk about. And let's talk about how beautiful it really is. In this episode... We're going to look over the Oba, the one big, beautiful bill. or act, whatever you want to say. And we're going to open this bill up. We're going to take off the makeup and see the beauty. We're going to see the scope of it. What does it mean? A breakdown of the bill and its contents and what we're really going to spend time on today is how it affects everyday people like you and me. And is there political consequences? Spoiler alert, yes. And what does that mean? What does that look like for Republicans, Democrats, the Green Party, whatever else there is? What does that mean? We're really going to dive into the bill today. Before we jump in, all the articles, there's like six or seven of them, are in the show notes. Before we get started, I am 28 years young. I went to school for business administration finance. That's what I do for work. When I say that, I'm saying I don't know what I don't even know yet. I'm still young. I'm still learning. I haven't seen enough of the world yet. So keep that in mind. With that in mind, I've provided the links, everything I've consumed. I spent hours on videos, articles that you can look at to come to your own conclusions. Don't take my word for it. All the articles and the show notes. Go look for yourself. Go read. Maybe there's something I missed. I don't know. Maybe there's some bias I can't see. I don't know. That's why those articles are there. The same articles I used to make this up. So so please. Take take what I'm about to say with a grain of salt, how I understand it and understand for yourself, I've I would push you to do that no matter what it is, if economy, religious text, political text, whatever it is, find out for yourself with that. Let's dive into the big, beautiful bill. So I think it would be very appropriate to talk about what it is, how it came to be, the general backgrounds of the bill. So let's talk about it. It was introduced in May 2025. It was worked on for a year before that, or it was worked on from the inception of President Trump as he was inaugurated, I think is the word there. But it was Officially introduced in May 2025 by House Republicans. And that was always nicknamed by the Mr. President, the One Big Beautiful Bill or OBBA, the One Big Beautiful Bill Act by President Trump. This document was recently just passed from the House and is just waiting for Papa Trump to assign it to make it into law. which just pretty much is, spoiler, it's probably going to do that. It's, what is this bill? It's 1,100 pages of law, legislative. And just, I want to say, before we go further, imagine 1,100 page, like 1,100 page book. You can read that, right? Like it's, it's grippy. Shout out to J. Cole. It's, it gets you, the story's good. But this 1,100 pages of straight law legislative, this shall do this. And like a bunch of subterms and subcontracts, like one law has like 175 sub. This sounds boring. And guess what? Hundreds of people, well, hundreds of people across whoever viewed it had to read this package and break it down and probably put it into chat GPT and said, what does this mean? Look, For those politicians who are listening to this for whatever reason, I know you paid for ChatGPT to understand these bills. What does this mean? I know you do it. I know you do it. And I don't blame you. There's a lot in there. So imagine reading through 1100 pages of political law, legislative mumbo jumbo. That genuinely sounds terrible. And as of recently, not only with that, this bill just passed the Senate, passed the House. Now this bill is sitting on the desk of Trump. So it already passed House, Senate. Now he just has to sign it into law. That's the background of it. What does it include? High level. We're going to jump into all of these. Don't worry. But what does it include? It includes tax policies, permanent tax cuts. We're going to talk about what that means. Major spending cuts to Medicaid, SNAP, Medicare, Green Energy, shout out Elon, has defense and border security funding, also has cultural and symbolic provisions, Planned Parenthood defunding, National Garden of American Heroes funding provisions. We're going to talk about what each one of those means. And the goal from everything I've read from the links that are available to you, the goal of these is to push massive conservative reforms. I don't care. Before we jump further, if economy, we're talking about money, what it means, politics get messy with it, it gets in there. But I don't care if you're Green Party, if you're red, blue, purple, whatever other colors there are, I don't care. Let's try to leave our... political biases at the door. What does this mean for money? What does this mean for our paychecks? What does this mean for, honestly, money? That's what we're looking at today. So there's going to be a lot of conservative, Republican, liberal, whatever language in here. That's just how I take notes. But again, this does not matter because red is red, blue is blue, green is green. We're going to talk about the money today. So this, from everything I've seen, it's a massive conservative push for reforms with the vote for this bill, which it did go through. And it is a Trump-era legislative. And hopefully this will hopefully, hopefully from the Republican point of view, hopefully from the President Trump, this is what they're thinking. Hopefully they're seeing this as a win and confirming some more seats in the 2026 midterms. That was a lot. That's just the background and what this bill includes. Let's really jump into the nitty gritty of it. Before we read, there was tax policies in this bill. There's permanent 2017 tax cuts, new exemptions. Before we understand the bill, at least before I can understand it, and I want that to be reflected to you guys the same, we have to talk about what the 2017 tax cuts were. and how they relate, and that will give us a better idea because these are now permanent with the big, beautiful bill. So we have to talk about it. What are the 2017 Trump tax cuts? Now, let me take you back in history. 2017, what were you doing? I actually remember what I was doing. So I remember when these tax cuts, I didn't know anything about them, but I remember when these Trump tax cuts came into play. Because I was I was living in Fresno still right after school before. Yeah, before the whole SoCal adventure. And I was working at Lowe's and I remember they call it if you worked at Lowe's, you know, they have something called the bullpen or that's like just. It's the junk drawer of Lowe's where everything goes. And I remember I was in the bullpen grabbing something for a customer or something like that. And there was an old guy there, super old. I don't remember his name, but I remember him being an old guy. And I remember when these laws passed, he was like, listen here, young man, this is so good for corporate America and for the people. And I think it was Drizzle Down Economics at the time. I don't know. I just remember hearing something like that. And he was talking my ear off about these tax cuts. And of course, 2017, I'm two years out of high school. I'm like, yeah. no idea what he was talking about. So it's kind of crazy. Cause I remember the moment where he started talking to me about this, like he yapped my ear off talking about these tax cuts. So anyways, do you remember these? Do you remember the conversation around these in 2017? I do. Um, so let's, what, what was that little guy yapping about in 2017? Let's talk about it. So this was called TCGA tax cuts and job docs of 2017. And here's what hot High-level overview of what these included. It reduced corporate tax rate from 35% to 21%. It lowered income tax rates across all brackets. So no matter what tax bracket you were in, your taxes decreased. It increased your deduction for having a child for child tax credits. It capped SALT inductions. We'll talk about SALT deductions. That's very important here soon. It raised the estate tax exemption. And it was set to expire in 2025. So this is a very high overview. Reduce taxes across the board and increase the threshold so you didn't pay as much taxes on things like housing and stuff like that. That's very high level. Now, how does this bill? How does the big, beautiful bill expand on the 2017 cuts? So it makes some memory. We talked about it lowered the tax rates across all brackets. No matter what tax bracket you're in, you're paying less taxes. So that's permanent now. That was supposed to go away this year. But now this is actually happening. Honestly, this is actually a huge W for everyone. I don't care who you are. This specific line, we're all paying less taxes and it's permanent. So the taxes you've been paying since 2017, that ain't changing. That tax cuts the exact same. Also, there's no more taxes on overtime income and tips, which is actually huge. That again is a W. For us folks who work a lot of overtime or tips, I think of a couple of friends I know where they work mandatory overtime. And that is like super lame that they have to pay a separate kind of tax for working overtime. So that is also gone. And this new one, it's a MAGA. Sorry, I'm not trying to laugh. Sorry. It's a... Okay, hold on. Can we all just lock in for a second? A MAGA newborn savings account. It's tax-free contributions up to$5,000 a year. And the name, I'm not... I'm laughing because I think it's silly to put a name on this. I think this is a great tool. Let me be clear. I think this is a great tool. So what this means is when you have a newborn kid, you can start putting money aside for them so they can start building wealth. This is amazing. It's something I'll be doing with my kid, not through this, but this is a great tool. You can do it through like traditional investment accounts like Roth IRA, individual retirement accounts, things like that. So this is a huge W. I just think it's kind of interesting to call it MAGA newborn savings accounts. And what's unfortunate about this, if I'm being serious for a second, this is a great tool. This is an absolutely fantastic tool. So you can put money away for your child up to five thousand a year. That's tax free. So no taxes need to come out of this. This is an amazing tool. What's unfortunate about this, people who are against MAGA will not use it. because it has the name MAGA in it. And that's really unfortunate because this is a great tool. Let me say this to you. If you're listening to this and you find yourself as one of those people, please don't let the name make you feel some kind of way. This is a great tool. It's just a savings account for newborns. Forget the MAGA stuff. That stuff's, in my opinion, cringe like that's super weird. But this is a great tool that is coming out with the one big, beautiful, So what does this mean? We know what the 2017 tax cuts are. We see how this expands. What does this mean? Everyone across the board is receiving tax cuts. They're seeing tax benefits. And another big piece, and this is just one piece of the bill, another big piece is reduced tax burden. There's less taxes for gig workers and service industry employees. who work a lot of overtime because now you don't have to pay those overtime. So that's the 2017 tax cuts and how this new bill is going to expand and make some of those things permanent. This is what you're all here for. Let's talk about how the bill affects real everyday people like you and me. Let's talk about health care. Let's talk about paychecks. Let's talk about work. Let's dive into it. This is how it affects everyday people like you and me. Let's start with the important one, healthcare. Let's look at Medicaid. So there is an estimated 930 billion cuts to Medicaid over the next 10 years. So 930 billion divided by 10, that's how much money Medicaid's going to be losing a year. So let's talk about how these cuts work, how they go into play. So there's a transition to block grants or per capita funding. So what that means, if you have a certain amount of people in your city or your state, your funding stops there, for example. There's fixed state funding. So states will get funded at like... This is an example. Let's say California. This is a complete example. This is not real. California... You get$5,000 every year for Medicaid. Cost goes up, too bad. You get$5,000 every year for Medicaid. That's how that works. So in one of these cuts, we have fixed state funding. And regardless of how much cost goes up, you get the same amount every year that's capped at, oh, you have 100 people in the state of California, you get 5,000. Oh, you have 400 people now, you get 4,000 now. But sir, things have gone up. Sorry. That's how one mechanic is that the cuts work. There's also the elimination of federal match for Medicaid, Medicaid expansions, Medicaid services. So before this bill previously, the federal government would match Medicaid expenses over whatever it may be to a certain amount that was capped. That is no longer going on. So the federal government will not be matching Medicaid expenses for their expansion. Nothing like that. They just get flat 5000. No match from the government. You get it. Including there are now strict work requirements for adults, and this is the one that's kind of controversial. So let's dive into this one a little bit. There's work requirements for adults receiving Medicaid between the ages of 19 and 55. Before, previously as to this bill, you sign up for Medicaid, you can be on unemployment, you can work very few hours, and you'd be covered by Medicaid. And Medicaid's not that great anyways, if I'm being super honest. Now, if you're between the ages of 19 and 55 and receiving Medicaid... To fully receive Medicaid, you have to work 20-plus hours a week. That's a new change coming in. And now this is, again, probably the most controversial point for how these cuts. There's more frequent eligibility checks. There's new asset tests. And there's now documentation hurdles. So you're getting a fixed amount per capita. Now for your state, the federal government will not be matching it. You have to work at least 20 plus hours a week to receive Medicaid if you're between the ages of 19 and 55. And on top of it, there will be more eligibility checks. There'll be new asset, like how much assets you really have. Are you lying? Are you not? Do you have stock? Something like that. And there's going to be a lot more documentation hurdles to get into Medicaid. That's kind of like the sweeping overview of how some of these cuts will be working. And honestly, I'll put my two cents in here. I think working 20 plus hours a week for 19 to 55, it's kind of goaded, especially young people, like young people who, now if you get older, you know, it's different. But for us young people, brother, and I know there's disabilities out there and stuff out there too, but that's not the majority, not even close. Let's stop giving these old people a reason to call us lazy. You know what I mean? Like, I don't want to be called lazy. Oh, your generation's lazy. Blah, blah. I don't want to hear that anymore. So I think this is kind of good for those who can work to work 20 plus hours and not just be a scrunch. No one likes to scrunch on any kind of system. So let's not be lazy. This is actually kind of coded for us under 30 who can work. I like that.

UNKNOWN: 22:04

Yeah.

SPEAKER_00: 22:05

I don't necessarily know if I like that, but I know that I think it's a good thing overall. Let's jump into more maybe not good things, depending on how you view things. A CBO, if you are unsure of what a CBO is, in a lot of contexts, it could be meaning community-based organization. It can also mean congressional budget office. This CBO means Congressional Budget Office. They estimate 11 to 12 million people could lose coverage by 2034. Who are these people? Who are these people at risk of losing coverage? Those people are low-wage and gig worker individuals. People with disabilities, pregnant women, a loss of postpartum coverage under this new bill, and rural residents reliant on Medicaid support at hospitals could also lose access to Medicaid benefits with all these changes coming through. That's Medicaid. Now let's talk about Medicare. So Medicare is looking at$500. billion,$500 billion worth of cuts over the next eight years. So take$500 billion divided by eight. That's about how much money you're going to lose a year, mid-year. So Medicare, how do these cuts work? Let's talk about it. They're kind of doing in two ways here. So there's PAYGO automatic cuts. So this bill triggers a 4% across the board Medicare cuts under existing law. Boom. Easy, I guess. So once Trump signs this and maybe Trump signs this into law the day this is recorded and when this comes out on Saturday, July 5th. These things could already be in effect. As of the time of this recording, it is not. But when it comes out, it could change. So, yeah. So, Medicare, just easy, flat, 4% across the board cuts. That's it. And then the next thing is there's cuts to hospital and physician reimbursements. Of which, I wish I would have gotten... A voice quote from him. One of my friends works in this world and he himself is facing that physician hospital reimbursements very much affects his line of work and his coworkers. So it's affecting people I know. It was just kind of weird, like real deal effects. So if you do some kind of work as a physician in a hospital, those reimbursements could get cut. So if you did$500 worth of work, this is an example, they could say, you know, we're only going to give you$300 as the reimbursement. Yikes. That's what it looks like. So what does this mean? This is how the cuts are happening, just flat cuts. What does this mean for everyday people? That means doctors will, some doctors, not all, are going to stop accepting Medicare patients. There's going to be a strain on rural and small hospitals that focus on Medicare. Medicare, excuse me, not Medicaid. And here's the, if we're talking about finances, there's a potential for premium hikes. So things will get more expensive for Medicare plans. based on these things. Let's jump into the next one. There's a lot to go over here. SNAP, the Supplemental Nutrition Nutrition... I can't remember the rest of this. I didn't take notes on what SNAP stands for. But Supplemental Nutrition Action Program, I believe. And it's food assistance. So food stamps, things like that. Let's talk about that. Currently, 55 million Americans are on some form of SNAP benefits. Here's what's changing with SNAP. So they're transferring administration to state. So now states have the control for food. SNAP used to be federal and expands work requirements to ages 18 and 64. This falls in line with the Medicaid changes. We don't know what this means yet. But you need to do some kind of work or something looking for work, documenting it some way to receive these. And also with Medicaid that we talked about, there's new asset tests. There's time limits. There's balances. There's more documentation. So it's going to be harder to get food, food benefits. And there's certain requirements that will come with that as well, as well as new asset tests as well. I can say my wife, who's a therapist, she's she works with a lot of people under these programs. And she says a lot of people have like Teslas. And they're under these programs. Wait a minute. How do you have a Tesla under these programs? So there's people. This is not everyone, but there are people who are lying to get benefits and live off of benefits and programs. And really profiting from that when there's people who could actually genuinely use these resources. You have people lying, taking advantage of it, taking money away from people who actually need it. And it's actually really upsetting. And I've heard more of these stories from multiple people who work in the mental health, Medicare, Medicaid offices. I've heard that actually quite a lot. So I think. with the reintroduction of new asset tests, new documentation, they wanna try to avoid people taking advantage of the system and people who actually need to get that. At least that's what I think based on what I've heard and what I've seen. So that's what's changing with Snap. Let's talk about what this means. What does that mean with all of these things in mind? Many millions may lose benefits due to administrative errors Or that's a low bucket issue, administrative errors. That exists no matter where you go, to be honest. Administrative errors are everywhere. You can't get rid of that no matter where you go. But what is actually, it may push people who receive SNAP out of receiving SNAP based on new criteria. States with weak infrastructures may delay benefits. Weak infrastructure, we can't support all these benefits. SNAP, people who are requesting to be on SNAP, we don't have the finances to support it. So states that honestly can't get their stuff together or they can't manage all of the people who come in who need that may have delayed benefits. So if you applied for SNAP and you're in a state, they have weak infrastructure to handle these requests and pay it out, you might be seeing a delay in that. And there'll be This is obvious. Increased food insecurity. You're not too sure. Do you follow these criterias? Do you not follow for these criterias, especially for your part-time workers and your caregivers? A lot more. Let's keep talking about it. Green energy. This is the one everyone wants to know because Elon. Elon came and said he was pissed at this bill. They need more subsidiaries because Tesla is a green energy company. What's going on? What's getting removed? Why is Elon pissed? Let's talk about it. So before we jump into this, we need to talk about the Inflation Reduction Act. We did do an episode. If you'd like to listen to that, it's called the Inflation Reduction Act episode. I'm not going to go through that entire bill, but what's pertinent for green energy? You would imagine an Inflation Reduction Act would focus on inflation, right? Wrong. The Inflation Reduction Act focuses Focused heavily on solar energy, green power, EV, solar. It gave lots of tax credits for both companies and individuals who had electronic vehicles, solars, batteries, things like that for gas. Green energy. A lot of tax credits. And that's how Tesla, last year Tesla made$55 billion. About 33% to 40% of that was with these Infliction Reduction Act tax credits that they received for building these. Boom. That's the Inflation Reduction Act. What's going on in this bill? So those tax credits, gone. Beep. Looped. Thanos snapped. They're gone. Of course, people with electronic vehicles don't like that. But really, who gets affected by this? EV manufacturers. Like Tesla. In addition to that, there's new excise taxes on large scale solar and wind projects. So if you have a large solar farm, wind farm, whatever it is, you're getting more taxes there. for that. In addition to that, um, fossil fuel subsidiaries or subsidies, excuse me, are increased. So drill, baby, drill, drill, drill, drill that fracking. I believe that's what it's called. Um, we're going to be paying more people to drill oil, get that oil, baby. No, the American oil meme. That's us literally like on multiple levels. That's us even more now. Uh, So what does this mean? So we just don't care about green energy anymore. We're not giving a benefits to these companies, which is weird because one day we're going to run out of oil. Right. Something to think about. And we're we're subsidizing, giving more money to people who are fracking companies that are fracking people, companies who are fracking, getting oil, things like that. So what does that mean? There's predicted layoffs of course and renewable energies so Tesla there's a EV I like I can't it's called the Volt I really I used to like the Volt anywhere any manufacturer that makes EV vehicles there's probably going to be some layoffs because there's going to be less money. The transition to clean energy is going to be a lot slower now because the money is getting a lot slower. And for you and me, what it means for you and me, what this means, the energy is going to go up long term. for us because now we're incentivizing oil and things like that. We're going to have to keep on paying for oil, gas. Gas might see an uptick here. Actually, you could see less of an uptick. So you might hear a lot of individuals say gas prices are going to shoot up. Again, let me preface this. I don't know what I don't know yet. I don't think that's going to happen. We're subsidizing. We're giving them more money. So that's going to bring costs of goods down. This is Basic business 101. Cost of goods sold, they're just going to go down. So they're going to sell it to us cheaper. At least that's what I imagine. We'll see if that happens or not. But if I'm making an educated guess, gas is not going to go up. Let's use our logic part of our brain here for a second. They're giving them more money, subsidizing it more. So it's going to be cheaper to get the oil. It's going to be cheaper for them to get the oil, refine it, and send it to gas stations. So gas, it should be cheaper, at least theoretically. I mean, that's just business 101, thinking about it and like that. They literally teach you that in your first class. In addition to that, there's some more things you gotta talk about. There's a lot of things, 1,100 pages. There's a lot of things to talk about. Let's talk about childcare and family support. So this one's actually monetary, money-wise. This is actually a dub for those who have kids. So the child tax credit is increased to$3,000 if you have kids. So if you have kids, there are$3,000 write-off. Ayo, that's what we're talking about. And it's also refundable under$50,000 a year in income. And what we talked about before, and this is a good thing, MAGA savings accounts for newborns. It's just a savings account. It's tax-free. Excuse me, my voice cracked. It's tax-free. And you can put money up to$5,000 a year in there for your child. This is a great tool. I will reiterate what I said previously, though. It's unfortunate that it has... I'm trying not to laugh. It's maybe a little weird that they have MAGA attached before. I don't know why. MAGA Savings Accounts for Newborns. It's just the savings accounts for newborns. And this is a really great tool. It doesn't invest your money as far as just the savings account. So if you want to have money invest, I would recommend having a Roth IRA opened up for your newborn so that money can be invest and grow over time. But both of these tools are great. It's just having the MAGA tag on it is really going to turn off a lot of people. Unfortunately, even though it is a great tool. For any parents, it's just that name is kind of weird. So what's that mean with the savings account with child tax credit? What does that mean? So low income families, this is who I expect it to affect the most will gain tax credits with their child. It's really a W, and that honestly is not just for low-income families. That can also be for wealthier families, although wealthier families have more tools and accesses to tax laws and stuff like that. So yeah, it benefits them, but less so to the degree than the families who don't have as many resources because this is just flat. Honestly, overall, financially, not that bad at all. Not that bad. That's everything in the bill that works for you and me so far, what that means for you and me. What do we talk about? Um, who are the winners? Who are the losers of this bill? This is what, who are the winners, middle and high income earners, their winners, fossil fuel companies, the oil companies, their big winners. And we also talked about defense, more people to ice, more, more funding going to our security, um, ICE is a big one. We talked about that on the whole episode. Please check that out on deportation, immigration. We had a whole episode dedicated to that. But they're getting more funding. Defense, security is getting more funding. So these are the big winners of this bill. Who are the losers? Low-income households, low-resource households, seniors on Medicare, and renewable energy workers. What does this mean financially? So based on what we've read, what we've discussed, this looks about$2.1 trillion to national debt over the next 10 years. This is the part that means the most, how this affects you and me. What I want to talk about now is the politics of this. And I want to give a very loose overlook on this, what this could mean going forward. And this is pertinent because we could see what's happening fiscally means money. So someone says fiscal strategy and someone says the fiscal policy, the money policy. So this is good to know to understand what's coming up so you can know what's coming up fiscally or monetarily. the political strategy or the political fallout of this bill being passed. So the overwhelming republic strategy is to deliver wins on taxes, border and defense, because this is something that President Trump himself promised on his way to becoming president. And some of those promises, promises are delivered on, especially with taxes, tips, things like that. Those are Clear wins for the Republican Party, for Trump specifically, because he promised them, and they're delivered. They are, in his defense. So, Republican strategy, they've delivered wins on taxes, on border, on defense. They want to force Democrats into politically difficult votes, because this went through. Now they're facing that. And this looks like it's... This is a big win for Trump, obviously, because... Now he solidifies his Trump era tax cuts from 2017. And then going to 2026, a lot of these Republican bills are being held. So this really kind of confirms his positioning and getting what he wants to be totally honest. What the Democrat response has been to this is labeling the bill cruel. There's this word fiscally rescues again. And they're focusing their campaign on health care because they're having billions of dollars cuts that and food aid losses. There is some internal conflict between Republicans, Rand Paul, Susan Collins, worried about the deficit impacts of how much money this can cost. And then. Florida. Five Republicans broke party lines and voted against this bill. Here's just some polling information. This article is also in the link below. It's very interesting. 55% of Americans oppose the bill. 29% of Americans support it. And it's very unpopular among suburban women and those who identify as independents. So that's what the bill is. That's who it's affecting. That's the political outlines of this. What happens next? So in between me recording the episodes, this bill passed and went through House and went through the Senate. Now it's sitting on Trump's desk. These things can change quickly. At the time of this recording, what does next steps look like? One, Trump signs this into law. That's just the next obvious line. And that will honestly 99%. So what does that look like in far as implementation? When do these changes take effect? Will there be legal challenges to this bill? So once Trump signs this into law, all these tax changes that we talked about with Medicare, food, health, green energy, this will all take effect next year in January of 2026. Child benefits, it's going to take next year. The Medicaid and SNAP specifically changes. is going to be phased in over two to three years. So they're going to bring the changes that we discussed about Medicaid with the reimbursements, the cut down, the more assets, the tools, the more documentation, as well as for this food benefits program. Those are going to be brought in in over two to three years. So it won't be as quick as the taxes, but it will be happening in phases over the next two years. There is a legal challenge being brought worked on and issued for states. So states specifically are preparing lawsuits for their Medicaid and for their SNAP provisions. And remember, the food benefits, SNAP, they're giving them to the states. The states have to handle it. And Medicaid, many people are being cut. There's work requirements and the state is fighting against that as well. There is a 2026 midterm. So what does that look like for next steps? Democrats, Democrats, are going to make this a big issue. Like that's what they're running against as they should. I mean, that's just politics 101, I guess. I mean, I don't know. Makes sense. Like they want to oppose this bill. And then the Republican Party is going to frame this in the midterms as a big win for the Patriots. That's the bill. That is the big, beautiful bill. What do we talk about? I want to go over. We talked about the 2017 tax cuts. We talked about everyone's income tax being permanent, so you're paying less in taxes. Let's talk about Medicaid cuts,$930 billion cuts to Medicaid. No more matching fixed-state funding, so you get a certain amount, hour requirements. There's new documentation, new lists, new assets. We also talked about Medicare, the big one, the cuts to hospital and physician reimbursements, and they flattened. 4% cut to everything that they have in this bill under Medicare. For the green energy, we talked about from all the tax benefits and credits that was in the Inflation Reduction Act are gone. So we're not incentivizing people to get EVs and we're not incentivizing those companies like Tesla. And that's why Elon is so mad. And instead, we're focusing our Our tools, our resources, our money, our manpower on fossil fuels, which means drilling and getting that sweet, sweet oil, baby, so we can sell. So that probably bring down the price of gas over the next couple of months. We talked about child credit. So you get more money for having children. There you go. And we talked about the MAGA savings accounts for newborns. That name is ridiculous. But yeah, that's what we talked about. There's a lot going to this bill. This was a very high level overview of the bill. Remember, this bill is 1100 pages of political jargon. So this is just very much at a high level what you can expect seeing from this bill. In addition to that, I want to reiterate, don't take take my word with a grain of salt. Take my word with a grain of salt. All the articles I used, all the notes I've taken were from these articles that I put in the show notes. So please, if you're not doing anything after being a patriot this weekend, maybe you won't want to be after this. I don't know. Check out these articles. Check out the show links. Learn for yourself. Maybe I missed something. I don't know. Check them out for yourself. It would be a good read for you to hear. And then read it yourself. With that, that's it. If you've learned anything or if this was helpful and for you understanding what's going around in the world federally, please go ahead and share the podcast. Share it to X, Twitter, Instagram. Thanks at Kyle the Horton. Tag me in it. If you learned anything, if you feel like your mind was expanded a little bit, you can better understand anything in this bill. Please go ahead and share the podcast. And we are the fastest growing podcast in the world. And if you help us continue to get there by leaving reviews, on spotify apple potify wherever you listen um please leave a review and help us become the fastest growing podcast um and the bet we are the best podcast and we're bringing information to you guys so please help me in that thank you guys so much um thank you for the love educate yourself this weekend be safe this weekend if you're celebrating fourth of july don't do nothing crazy um don't set nothing on fire please um and no one's gonna watch your fire firewall I know that may hurt, but no one's going to watch your fireworks video. So don't record it. And in fact, do something safe and be safe with that in mind. Remember, one man paid the ultimate price for you that can be with him forever. I mean, he loves you more than you can ever, ever understand. That man's name is Jesus. And I'll see you guys next time on Kyle Talks. Peace.