Latest news with #OneBigBeautifulAct
Newsweek
2 days ago
- Business
- Newsweek
How SNAP Benefits Are Impacted by Trump's Tax Bill: What to Know
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. House Republicans have advanced a sweeping tax and spending bill backed by President Donald Trump that makes significant changes to the Supplemental Nutrition Assistance Program (SNAP), also known as food stamps. The bill—the One Big Beautiful Act—passed the House by a narrow 215–214 vote and is now headed to the Senate, where revisions are expected. If enacted, the measures would mark a major shift in eligibility and administrative rules for the country's largest anti-hunger program. Why It Matters More than 40 million low-income Americans rely on SNAP to help pay for groceries each month. The changes proposed in the Trump-supported bill reflect broader Republican goals to tighten eligibility, reduce federal spending and increase work requirements for federal food assistance. While the legislation also aims to cut taxes and simplify rules for retirees and workers, critics warn the SNAP provisions could leave vulnerable recipients—especially childless adults and those without full-time work—at risk of losing access to essential food support. What to Know The bill includes the following SNAP-related provisions: Increased state financial responsibility : States would be required to contribute more funds to support SNAP, shifting part of the cost burden from the federal government to state budgets. : States would be required to contribute more funds to support SNAP, shifting part of the cost burden from the federal government to state budgets. Expanded work requirements : The bill would require more SNAP recipients to work in order to maintain eligibility. Specifically, it increases the age cap at which work requirements end from 54 to 64 years old. Able-bodied adults without dependents would be subject to these rules unless they meet other exemptions. Only parents with children under age 7 would be exempt from the work requirements, a significant change from the current exemption for parents with children under 18. : The bill would require more SNAP recipients to work in order to maintain eligibility. Specifically, it increases the age cap at which work requirements end from 54 to 64 years old. Able-bodied adults without dependents would be subject to these rules unless they meet other exemptions. Only parents with children under age 7 would be exempt from the work requirements, a significant change from the current exemption for parents with children under 18. Reduced state exemptions : The legislation limits states' ability to exempt individuals from federal SNAP work requirements. : The legislation limits states' ability to exempt individuals from federal SNAP work requirements. No changes to benefit amounts or maximum eligibility thresholds were specified in the bill, but administrative changes could affect how and when recipients qualify. These SNAP reforms are intended to partially offset revenue losses from the bill's expanded tax deductions, including higher standard deductions for older Americans and the elimination of taxes on overtime and tips. Stock image/file photo: Man shopping for groceries in a store. Stock image/file photo: Man shopping for groceries in a store. GETTY Policy and poverty experts have said the bill could be devastating for SNAP recipients. The Center for Budget and Policy Priorities, a left-leaning think tank, said the passage of the bill would constitute "by far the largest cut to SNAP in history"—with some 7 million recipients possibly seeing reduction or total loss of their benefits. The Congressional Budget Office has said that while it will reduce federal spending on SNAP to $76.6 billion in 2034, down from a baseline projection of $115.8 billion, recipients would see an average reduction of SNAP benefits of $15 dollars per month by 2034 for every single SNAP participant What People Are Saying President Trump has not commented directly on the SNAP provisions, but he framed the broader legislation as a necessary reset. "It's time for our friends in the United States Senate to get to work, and send this Bill to my desk AS SOON AS POSSIBLE!" he wrote on Truth Social. Democrats have been outspoken in their criticism. Those on the House Agriculture Committee said the bill is "irresponsible" and poses an "immense threat" to "food assistance for vulnerable seniors, children, working families, veterans, and Americans with disabilities." Jennifer Greenfield, associate professor at University of Denver who specializes in the intersection of health and wealth disparities, told Newsweek: "The proposed federal "savings" are not savings at all—it's a shift of the costs to our already cash-strapped states and families. The net result will be to increase hunger and financial instability among households with children, older adults, people with disabilities, and veterans—while also sending tens of thousands of people into unemployment." What's Next The Senate is expected to negotiate revisions to several parts of the legislation, including the SNAP work requirement provisions, before any final vote. If changes are made, the bill will return to the House for another vote.
ABC News
4 days ago
- Entertainment
- ABC News
BTN Newsbreak 06/06/2025
TRUMP AND ELON DRAMA Elon Musk and Donald Trump have exploded back into headlines today. That's right, the political bromance of tech billionaire Elon Musk, and US President Donald Trump is over. But what on earth happened? Well, from Mr Trump's first day in office, Elon Musk had been a major player. But recently, the pair started butting heads over some policies, particularly this spending bill called the One Big Beautiful Act, and last week, Musk left his role at the White House. But things really escalated overnight after the President said this. Mr Musk started firing back on his social media platform, X. And then the President hopped on his social media platform and well, the fight of the century began. It's been a war of words that honestly you'd expect from more of a roast battle. And while plenty of people have the popcorn out, lots are also worried about what it'll mean for American politics, if this feud continues to escalate. SOCCEROOS The Socceroos are on the brink of qualifying for the 2026 FIFA World Cup after a nail biting one-nil win last night. Japan dominated play for most of the match, until the very final minute when Aziz Behich scored this winning goal. It was his first Socceroos goal in 13 years and Australia's first win over Japan in 16 years. And as long as they avoid a heavy defeat in next week's game against Saudi Arabia, they're all but certain to qualify. PARA SPORT Now over to Darwin, where students living with disabilities are taking part in a program that's all about trying new sports and getting active. From golf, to wheelchair rugby, these kids in Darwin are discovering their new favourite sports. It's all part of a national program designed to encourage people living with disabilities to explore different sports, and this year more than 250 students took part. And Sam says events like this aren't just about getting active, they're about giving it a go, making friends and having a lot of fun at the same time. ROBOTS MOVING HOUSES First up, to a block of buildings on the move in China! 400 robotic feet lifted and moved them in sync. They're actually being moved back to their original location after making way for underground construction works. The robots moved the buildings, weighing 7-and-a-half thousand tonnes, at a rate of about 10 meters per day. SWITCH STAPLES Now to people around the world who have lined up for hours just to buy the new Nintendo Switch 2. But for some customers in the US, excitement quickly turned to disappointment, as reports of punctured screens appeared on social media. Turns out, because Nintendo packaged the Switch with its screen facing outwards, when game shop employees used staplers to staple receipts to the front of boxes. A whole bunch of console screens were left damaged. One shop has already offered to replace them, adding staplers have been confiscated. STANLEY PUP And finally, if you've ever wanted to watch dogs play hockey, this is the closest you're gonna get. The world's first Stanley Pup, a play off the famous Stanley Cup hockey championship, features rescue dogs who are all up for adoption. It's a collaboration between America's national hockey league and an animal welfare charity.
Yahoo
4 days ago
- Business
- Yahoo
Donald Trump Says Elon Musk Has ‘Trump Derangement Syndrome' as Rift Grows: ‘I Don't Know If We Will' Have a ‘Great Relationship' Anymore
The partnership between tech multibillionaire Elon Musk and President Trump appears to have frayed to a new breaking point. Trump on Thursday commented on Musk and his criticism of the president's 'big beautiful' spending package, which Musk called a 'pork-filled Congressional spending bill' and a 'disgusting abomination.' Musk last week exited the administration as a special employee leading the Department of Government Efficiency (DOGE). Musk, the world's richest individual, had donated about $275 million to Trump's election campaign. More from Variety Jimmy Kimmel Roasts Trump for Sharing 'Deranged' Theory Claiming Biden Is a Robot Clone: 'This Is Deeply Nuts... if Your Dad Was Saying This, You'd Look for an Assisted Living Facility' Elon Musk Slams Trump's Spending Bill: 'A Disgusting Abomination' London Mayor Sadiq Khan Hails 'Adolescence' for Having 'Mainstreamed' Conversation About 'Epidemic' of Violence Against Women Trump, speaking to reporters in the Oval Office Thursday, said, 'Elon and I have a great relationship' but that 'I don't know if we will anymore. I was surprised, because… we had a wonderful sendoff. He said wonderful things about me' at a May 30 press conference marking Musk's departure from the administration. Said Trump, 'I'm very disappointed because Elon knew the inner workings of this bill. He never had a problem until right after he left.' Trump said that others who have left his administration 'at some point they miss it so badly' and 'some of them actually become hostile. I don't know what it is, it's sort of 'Trump derangement syndrome,' I guess they call it,' the president said. 'They wake up in the morning, the glamor is gone, the whole world is different, and they become hostile.' Trump, alluding to Musk's position as CEO of Tesla, also asserted that 'Elon is upset because we took [away] the EV mandate, which was a lot of money for electric vehicles. They're having a hard time, the electric vehicles, and they want us to pay billions of dollars in subsidy. Elon knew this from the beginning.' Musk replied Thursday to Trump's comments on X, his social media platform. 'Whatever,' he wrote. 'Keep the EV/solar incentive cuts in the bill, even though no oil & gas subsidies are touched (very unfair!!), but ditch the MOUNTAIN of DISGUSTING PORK in the bill.' Musk continued, 'In the entire history of civilization, there has never been legislation that both big and beautiful. Everyone knows this! Either you get a big and ugly bill or a slim and beautiful bill. Slim and beautiful is the way.' In addition, Musk disputed Trump's assertion that Musk 'knew the inner workings' of the bill 'better than anyone.' Musk wrote in a post, 'False, this bill was never shown to me even once and was passed in the dead of night so fast that almost no one in Congress could even read it!' The Trump-backed One Big Beautiful Act narrowly passed the House last month and has yet get through the Senate. In its current form, the bill would add $3.1 trillion to the U.S. debt including interest over the next decade, according to the nonpartisan Committee for a Responsible Federal Budget. The legislation would make Trump's 2017 tax cuts permanent (with wealthy Americans benefiting the most) and increase funding for the U.S. military and immigration enforcement. In addition, the version that passed the House includes significant funding cuts for health, nutrition, education and clean energy programs. Best of Variety What's Coming to Netflix in June 2025 New Movies Out Now in Theaters: What to See This Week 'Harry Potter' TV Show Cast Guide: Who's Who in Hogwarts?
Irish Examiner
5 days ago
- Business
- Irish Examiner
Kingspan says Trump tax plans mean bigger returns as it plans $250m US 'megasite'
Irish insulation and building group Kingspan said US president Donald Trump's planned tax reforms will mean even greater returns for the company as it plans to invest $250m (€218m) in a roofing production 'megasite' in the country. Kingspan plans to ramp up its US capital investment by from €750m to €1bn (€870m) - adding €218m to its Stateside commitment with a 100-acre roofing campus in Oklahoma, which will be the largest in the US. "The One Big Beautiful Act, when enacted, should make the returns even more compelling," a Kingspan statement said, citing Mr Trump's proposed tax reforms which are currently before the US Congress. Kingspan said progress at its roofing facilities in Maryland and Oklahoma is continuing and both will be in production in 2026. "As a consequence of the significant market and cross sell opportunity we are closely exploring an entry to the shingles category to be potentially based at 100-acre roofing campus in Oklahoma. The logistical synergies of a roofing megasite, the largest in the US, centrally located, and a channel synergy of full spectrum commercial and residential applications will be unrivalled. It will target a return on capital employed in excess of 20% within four years on a $250m investment, within the overall $1bn capital plan." Davy analyst Flor O'Donoghue said this would imply a potential incremental profit contribution of greater than $50m (€44m) from the US investment. "Our current expectation is that the group's trading profit will increase from €907m to €985m this year and we are very confident of further strong growth over the remainder of the decade and beyond," Mr O'Donoghue said. Kingspan has targeted a 15% market share in the non-residential flat roofing market.
RTÉ News
5 days ago
- Business
- RTÉ News
Kingspan Ramps Up Planned US Roofing Investment to $1 billion
Insulation and building company Kingspan Group plc is ramping up its commitment to the US from $750m with $1 billion of capital investment over the next 5 years. The Cavan headquarted company pointed to Donald Trump's 'One Big Beautiful Act' budget bill, saying when enacted, should make the returns even more compelling, adding that progress at its groundbreaking Roofing facilities in Maryland and Oklahoma is continuing apace and both will be in production in 2026. Kingspan said it is closely exploring an entry to the shingles category to be potentially based at its hundred-acre roofing campus in Oklahoma. It will target a ROCE in excess of 20% within 4 years on a $250m investment, within the overall $1 billion capital plan. Kingspan said it expects these investments will materially contribute to the Group's earnings over the next decade and beyond.
