This is a quick follow-up on the famous “Big Beautiful Bill”

This is a quick follow-up on the famous “Big Beautiful Bill” we’ve been talking about for some time now. With the House’s approval behind us, the legislation is now headed straight to the White House, where President Trump is expected to sign it—likely around July 4 which is tomorrow.

Officially known as the One Big Beautiful Bill Act (OBBBA), the bill is a sweeping, 900-plus-page legislative package totaling roughly $3.3 to $4.5 trillion in tax cuts and spending shifts. It permanently extends the 2017 tax cuts, eliminates taxes on tips and overtime, and introduces new deductions for seniors and auto loan interest. At the same time, it brings deep reductions to safety net programs like Medicaid and SNAP, while introducing new work requirements and eligibility limits for other forms of public assistance. Billions have been allocated to defense spending, ICE, and continued upgrades to the border wall. Clean energy programs did not fare well—electric vehicle mandates and green energy tax credits have been slashed or entirely eliminated.

Wall Street appears to be the clear winner here. Stocks remain strong, and bond markets haven’t yet soured, thanks in part to investor faith in U.S. Treasuries as a safe haven and the ever-persistent mindset of “TINA”—There Is No Alternative. Equity markets are trending upward in what some are calling the first steps toward a new “Golden Age” of economic growth. But not everyone is cheering. Debt concerns loom large, with deficit hawks warning the bill could add between three and four trillion dollars to the national debt. The Congressional Budget Office estimates that millions may lose healthcare coverage, and credit agencies have already begun issuing warnings. Treasury yields are inching higher, and if investor confidence weakens, borrowing costs could soon follow.

Despite intense lobbying and an eight-hour floor speech by Rep. Hakeem Jeffries, the bill scraped through both chambers by razor-thin margins. Notably, a few Republicans broke ranks and voted “no,” including Representative Thomas Massie of Kentucky. Democrats are already gearing up for the midterms with a clear message: Medicaid being cut, healthcare lost, and Wall Street winning while Main Street suffers.

Adding more heat to the political fire, the bill has intensified the Trump–Musk rift, which has spilled over from Capitol Hill into boardrooms and across social media feeds. Elon Musk, once an ally of Trump and briefly the head of the Department of Government Efficiency (DOGE), blasted the bill as a “disgusting abomination” that sells out green energy and fiscal responsibility. Trump fired back, threatening to cut off government contracts for Tesla and SpaceX and even hinting at Musk’s deportation—though few believe that is even a remote possibility. Still, it reflects the escalating power struggle within the GOP. Never underestimate the power of money, and Musk has a boatload of it.

On the ground, consumers can expect more take-home pay, thanks to lower taxes on tips and overtime. But those benefits may be offset by higher out-of-pocket costs for healthcare, energy, and potentially rising interest rates. For low-income families, the proposed cuts to Medicaid and SNAP are likely to hit hard especially in states heavily dependent on federal support. I can’t help but wonder how places like New Haven will fare in this new economic landscape.

Clean energy advocates are bracing for a slowdown. With this bill, electric vehicles and renewables may lose momentum, and green-tech job growth could be put on hold. Investors, meanwhile, are enjoying the ride—for now. Short-term optimism may lift markets, but long-term fiscal instability and rising debt could eventually shift yields and distort valuations.

With the House greenlit and the bill on the way to the President’s desk, we are likely to see a signing ceremony as early as tomorrow, July 4. But this isn’t just fireworks and fanfare. The political and economic fallout is already mounting. While some Americans may benefit in the near term, others—especially the vulnerable—could find themselves facing harsher conditions. What we are witnessing is more than a legislative victory or defeat. It is a defining moment in American policy and priorities.

As you enjoy this Independence Day weekend, take a moment to be thankful for the freedoms we enjoy. Our critiques of this system are not rooted in cynicism, but in a deep hope for a better future. A future where everyone—regardless of background, has a fair shot, a dignified life, and a higher standard of living. That’s the America we should all be working toward.

Your pal,

 Ronnie