President Trump's signature tax and spending legislation, the "big beautiful bill," is now law, and that means cuts to Medicaid spending. The big picture: The law sets in motion almost $1 trillion in slashes to Medicaid and other health policy changes,

Now that the tax and spending bill has been signed into law, how it will impact the finances of Americans is more clear.

President Donald Trump signed his domestic policy bill into law on July 4, 2025, which sees funding cuts to medicaid and other programs.