President Donald Trump’s sweeping legislative proposal, dubbed “One Big, Beautiful Bill” by Republicans, is advancing through the House and drawing sharp political and market reactions. The bill aims to permanently extend 2017’s Tax Cuts and Jobs Act and eliminate federal taxes on tips and overtime. It also aims to boost defense spending, which could benefit contractors like RTX, Lockheed Martin, Palantir, and Booz Allen. The proposal includes deep Medicaid cuts and new taxes on private university endowments, potentially pressuring managed care stocks like UnitedHealth, Centene, and Elevance. It also proposes changes to SNAP that shift costs to states and expand work requirements. The nonpartisan Committee for a Responsible Federal Budget estimates the legislation would add $3.3 trillion to the national debt over the next decade.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02President Donald Trump's sweeping legislative proposal
00:04dubbed One Big Beautiful Bill by Republicans
00:07is advancing through the House and drawing sharp political and market reactions.
00:11The bill aims to permanently extend 2017's Tax Cuts and Jobs Act
00:15and eliminate federal taxes on tips and overtime.
00:18It also aims to boost defense spending,
00:20which would benefit contractors like RTX, Lockheed Martin, Palantir, and Booz Allen.
00:24The proposal includes deep Medicaid cuts
00:26and new taxes on private university endowments,
00:28potentially pressuring managed care stocks like UnitedHealth, Centene, and Elements.
00:34It also proposes changes to SNAP that should cost the states
00:36and expand work requirements.
00:38The Nonpartisan Committee for a Responsible Federal Budget
00:40estimates legislation would add $3.3 trillion
00:44to national debt over the next decade.
00:46For all things money, visit Benzinga.com slash GSTV.