
Legislative Update: Summary of Final Health Care Provisions in H.R. 1, The One Big Beautiful Bill Act
On July 4, President Trump signed H.R. 1, often referred to as the One Big Beautiful Bill Act, into law. The massive budget reconciliation package marks a significant shift in federal health care policy. Along with a $5 trillion hike of the national debt limit, an extension of the 2017 Tax Cuts and Jobs Act, elimination of taxes on tipped and overtime income for some earners, and increased border security and defense spending, the law is offset by significant cuts to spending on federal programs including Medicaid, the Supplemental Nutrition Assistance Program, student loan support, and green energy initiatives.
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