Reexamining the “Big Beautiful Bill” – What You Need to Know
As we wrote in our first ‘McClintock Watch’ blog post on May 27, 2025 our goal here is to keep an eye on what our Congressman says and how he votes so that we can all gain a better understanding, not as Democrats or Republicans, but as neighbors; people who live, work, worship and play in Calaveras County. We all want to know and understand what his yes or no vote will mean for his constituents, and specifically for us here in Calaveras County.
When Congressman Tom McClintock praised H.R. 1 — dubbed the “One Big Beautiful Bill Act”— in a recent interview with MyMotherlode.com, he highlighted its tax relief (again) and argued that failure to pass it would raise average family taxes by 22% next year. He then attacked (after thanking him) Elon Musk for Musk’s own critique of the bill as “outrageous” and “pork-filled.”
Beneath the headlines lie facts every Calaveras County resident—Democrat, Republican, or independent—should understand before drawing conclusions.
$2.4 Trillion Added to the Deficit
The nonpartisan Congressional Budget Office (CBO) projects the bill will add $2.4 trillion to the federal deficit over the next decade. Higher deficits mean more government borrowing—and ultimately higher interest costs that can translate into future tax hikes or cuts to services many of us rely on.
What is the federal budget deficit today? America’s escalating national debt, which is about to hit $37 trillion could increase by $2.4 trillion under the Republican bill now moving through Congress. So we’re approaching $40 TRILLION in national debt. Our children and our children’s children will be paying for what, at its core, is a bill that takes from the poor and gives tax breaks to the very very very rich. That’s really what this bill is all about. Is that something you voted for?
Also important to note is WHO owns all that debt. The largest foreign holders of U.S. debt are Japan and China. Japan’s holdings are the most substantial, with over $1 trillion, followed by China with holdings around $760 billion. Foreign ownership of U.S. debt means foreign governments and institutions are investing in U.S. Treasury securities, effectively lending the U.S. money.
Yeah. Our leaders actually don’t talk much about that – on either side, but we as American Citizens really need to understand how leaders on both sides fail us by “spinning” the facts. And then we need to demand better – from both parties.
Largest Upward Transfer of Wealth in History
As we noted previously, while the bill extends and expands the 2017 tax cuts—benefiting corporations and upper-income households the most—the richest 1% stand to gain far more in dollar terms than working families. Studies of past tax-cut packages show that when high-earners save or invest windfalls rather than spend them, rural economies like ours see only modest boosts. So, nobody should be buying what McClintock is selling here. Because it’s been largely accepted that “trickle-down economics” aka supply side economics DOES NOT WORK!*
Millions at Risk of Losing Health Coverage
By imposing stricter work requirements on Medicaid and rolling back eligibility expansions, the legislation is expected to leave 10.9 million Americans without health insurance by 2034, including seniors and working families in need of care. Local clinics and hospitals in Calaveras County could see increased uncompensated care burdens, shifting costs onto patients and taxpayers.
*(Note: It is important to understand that the term “trickle-down economics” is a point of contention, and views within the conservative spectrum vary. However, it is possible to find conservative sources that acknowledge or raise concerns about policies that are commonly associated with the “trickle-down” label.)
To be continued. . . watch for our next ‘McClintock Watch’ blog post, coming soon!