WASHINGTON, DC – The Senate Finance Committee released their portion of the so-called ‘Big Beautiful Reconciliation Bill,’ which U.S. Senator Jack Reed (D-RI) has dubbed a ‘Big Ugly Betrayal’ of working families. 

The Center on Budget and Policy Priorities outlines how the Senate Republican version of the reconciliation bill, which requires just 50 votes to pass the U.S. Senate, would decimate family and state budgets.  It includes steeper cuts to Medicaid than the House bill, which would terminate health care coverage for 16 million people, raise health care costs across the board, and cut more than $1 trillion from America’s health care system in order to give tax breaks to billionaires.

Today, Senator Reed issued the following statement:

“Somehow, Senate Republicans took the House’s terrible bill and made it worse.  They are going to decimate our health care system in order to give bigger tax breaks to billionaires and corporations.

“This deficit-shattering bill would take Medicaid from even more Americans who need it and inflict a heavier financial burden on patients, hospitals, and blue states.  Instead of shuttering hospitals, raising premiums, and making it harder for families to find a quality, affordable nursing home for their loved ones, Congress should be supporting access to essential health care for those who need it most.

“While Medicaid and SNAP nutrition assistance are targeted for massive cuts, Big Oil gets a big handout.  Big Oil lobbyists were able to get their preferred industry-backed language in the bill that would solely benefit fossil-fuel companies at the expense of tax payers and clean energy.  This would be a job killer and a giveaway to polluters.

“Gun lobbyists got a big gift in this bill too: Shockingly, it removes registration requirements not just for silencers but short-barreled rifles, short-barreled shotguns, and other weapons too.

“Notably, the Senate Republican bill would shift considerable new costs to states and localities, posing a serious risk to critical public services such as schools, health care, and transportation projects.

“President Trump and Congressional Republicans are prioritizing tax cuts for the rich and powerful at the expense of average Americans.  Billionaires and corporations get tax giveaways while more Americans are being squeezed and living paycheck to paycheck.  Yet the bulk of the benefits here go to the wealthiest while the safety net and basic services for average Americans gets shredded.”