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The devil is in the details |
The bad things I've heard about include the number of people who will lose health care. This not only hurts these people. The cuts will hurt health care in areas that depend on Medicare and Medicaid dollars. There will also be a massive transfer of costs to the states. Either state taxes will go up or other state priorities will be cut. Missouri's governor is already cutting items from the state's budget to be prepared for the expected increased state costs caused by Trump's OBBB. And he is a Republican!
Trump's OBBB cuts support of renewable energy sources. Trump just said he wants to double electric energy creation in the US. This is mainly because of the massive energy demands of AI (and crypto). The fastest, cheapest, cleanest way to increase electricity production is to use renewable energy sources such as wind and solar. So cutting support of renewable sources will make rapid increases of electricity more difficult.
China is loving Trump's OBBB. This will make it easier for China to win the race to become the world's AI leader.
While Trump's OBBB decreases support for renewable energy it increases support for dirty energy like coal. If you like hot summers, large wild fires, powerful hurricanes, lots of big tornadoes and massive floods then Trump's OBBB was made for you.
Trump's OBBB has lots of money for border security. It will make ICE the single largest federal law enforcement agency. Think about that when you hear stories about how ICE treats people they detain. I didn't say arrest because many of the people they put into ICE detention facilities and move or try to move around the country and the world have no arrest warrants. If you think you are safe because you are a citizen or because you have a legal status to be in the US, you are naive.
The timing of the fiscal effects of Trump's OBBB are interesting. The parts that benefit the lower ends of the income scale are implemented quickly. The parts that harm the lower ends of the income scale are delayed until after the mid-term election. This should tell you who to trust and it is not Trump and his magettes.
This is, as Trump is happy to tell you, a very big bill. We are going to hear a lot more about hidden items in the bill. You are going to frequently hear "I didn't know that was in the bill" from politicians, including Trump. That will be another clue about how bad this bill really is for America. The devil is in the details.
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