Summary
The U.S. Senate narrowly passed a major tax and spending bill, which could add $3.3 trillion to the national budget deficit by 2034. This bill proposes significant cuts to Medicaid and Affordable Care Act spending, potentially increasing the number of uninsured Americans, and includes changes to gun regulations such as extending background check validity and allowing gun dealers to destroy records after 20 years.
Key Facts
- The bill passed the Senate with a 51-50 vote, with the Vice President casting the deciding vote.
- The bill is expected to increase the U.S. budget deficit by $3.3 trillion by 2034.
- It proposes cutting about $930 billion in Medicaid and Affordable Care Act funding over the next decade.
- If enacted, the bill could increase the number of uninsured Americans by one-third.
- The bill would require people to prove eligibility for Medicaid every six months, requiring more documentation.
- Proposed changes to gun regulations include extending background check validity from 30 to 60 days.
- Gun dealers could destroy records after 20 years under this bill, instead of keeping them indefinitely.
- The Department of Justice has suggested reducing over 500 investigators, which could impact the ability to trace guns used in crimes.