US residents face sweeping changes to taxes, healthcare, and benefits starting January 1, 2026. The One Big Beautiful Bill Act (OBBBA) takes effect Thursday. The law, signed in July, alters the tax code and healthcare landscape.
The OBBBA's implementation follows a congressional impasse in 2025. Lawmakers failed to agree on extending Affordable Care Act subsidies. This failure impacts millions who rely on the exchanges for insurance.
Experts predict widespread effects. Some fear millions will lose health insurance. Others worry about cuts to food assistance programs. Fiscal conservatives cite concerns about the national debt.
The OBBBA was President Trump's signature legislative achievement. It passed despite bipartisan opposition. Critics argued the bill would harm vulnerable populations.
The future remains uncertain. Legal challenges are expected. Further congressional action is possible. The full impact on Americans' health and finances will unfold in the coming months.
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