What Does the ‘Big, Beautiful Bill’ Actually Do? | EJ Antoni

Here's the truth about the ‘big, beautiful bill’:

"When guys like Elon Musk get very angry [that] the bill doesn't cut enough, he's got a point. But you also need to understand, there's a lot of spending that's off-limits in this bill. You can't cut it, no matter how much you want to. That has to be done either through regular order or the rescissions packages," says @heritage economist EJ Antoni.

"What the big beautiful bill does is, although the debt will still go up, it goes up at a slower rate. So, this is why you'll hear people from the administration saying this cuts spending.

It cuts the increase in spending—which is why people on the left will say this bill increases spending. Yes, but it increases it at a slower rate.

So, you can see how there's a little bit of spin going on, I think, in either instance. But at the end of the day, probably the most important takeaway and I think the most honest assessment, is that the bill is a step in the right direction.

It doesn't go far enough, but it's better than the alternative of doing nothing. If we live in a world where it's this kind of binary choice - do we pass the bill or do we just stick with the status quo - passing the bill is definitely the right choice, because if you don't, you have a four and a half trillion dollar tax increase on the American people, of which almost all of it - four trillion out of the four and a half trillion - is going to fall on the middle class."