The House reconciliation bill - officially known as the One Big Beautiful Bill Act - is extraordinary in how much it robs from the poor to boost the rich. Its tax cuts for the wealthy are financed by cuts to health care coverage (both in Medicaid and Obamacare) that will help Republicans swell the ranks of the uninsured by 16 million, according to the Congressional Budget Office.
But the Big Beautiful Bill is not just an ugly tax bill where society's less fortunate are made to sacrifice for the benefit of the wealthiest. It's also a spending bill that steers hundreds of billions of dollars into new pet projects. This is financed with debt. All in, the BBB will spike deficits by $2.4 trillion over 10 years, according to CBO, likely increasing the national debt by $3 billion when interest payments are included.