One of the central economic pursuits of President Donald Trump’s second term — you know, besides all those tariffs — has been the passage of the «One Big Beautiful Bill,» a measure that aims to encompass numerous goals in one piece of legislation, including the extension of the 2017 tax cuts and slashing funding for services like Medicaid and SNAP in order to offset those cuts.

After many back-and-forths, negotiations and failed votes, the bill passed in the House of Representatives by the thinnest margin possible, 215-214-1. All Democrats voted against it, joined by two Republicans, Rep. Thomas Massie of Kentucky and Rep. Warren Davidson of Ohio. An additional Republican, Rep. Andy Harris of Maryland, voted present. The bill now moves to the Senate, where it is expected to face more alterations before getting across the finish line.

While the GOP has been attempting to use the reconciliation process to avoid the bill being filibustered by Democrats, it is still expected to face intra-party dissent similar to what it faced in the House over its cuts either being too severe or not severe enough. Elon Musk, the Tesla CEO and one-time Trump advisor who led the «DOGE» government consolidation efforts, spoke out against the bill in unsparing fashion in a Tuesday post to X, decrying it as too heavy on spending.

«This massive, outrageous, pork-filled Congressional spending bill is a disgusting abomination,» Musk wrote. «Shame on those who voted for it: you know you did wrong. You know it.»

Despite the broad nature of the bill, one of its central goals remains the extension of the 2017 Trump tax cuts. Passed for the first time early in his first term, the Tax Cuts and Jobs Act, as it was officially known, was one of Trump’s signature legislative accomplishments and has generally become known as the «Trump tax cuts.» Given the nature of how that bill was passed initially, a lot of its provisions are set to expire next year if a new extension isn’t passed, so doing just that has unsurprisingly emerged as a major priority for Trump and the GOP-led houses of Congress.

The president and his allies have also tried to claim that his aggressive tariff agenda could help offset the extension of the tax cuts, although, as we’ve touched on before at CNET, that is just one of the often-contradictory stated goals for the tariffs.

Details about the budget bill Republicans have emerged in the past few weeks as it moved through the House Ways and Means Committee approval process. The Congressional Budget Office, an agency that provides estimates about the economic impacts of budgetary bills that is not affiliated with any party, estimated that the cuts called for in this bill would cost millions of people their health insurance and food benefits. The proposal initially failed to pass a vote in the House, leading to its cuts for Medicaid becoming even heavier.

All this comes in addition to the longstanding criticism from Democrats and other critics that Trump’s tax cuts disproportionately help the wealthiest Americans more than the working class. While there is truth to that argument, and to the Republican counter that the tax cuts would provide some help to taxpayers at all incomes, the new proposed cuts unveiled this week have given more weight to the notion that they will be more harmful for the least wealthy Americans.

For all the details about what extending the tax cuts will actually mean and what the current terms mean for things like Medicaid, keep reading. For more, find out if Trump could actually abolish the Department of Education.

How will the budget bill impact Medicaid?

According to the estimates from the Congressional Budget Office mentioned at the start of this piece, at least 7.6 million Americans would lose Medicaid health insurance under the provisions in the budget proposal. That’s nearly 11% of the 70 million Americans who are currently insured by Medicaid. The proposal would, among other things, require people without dependent children or a disability to meet an 80-hour-a-month work requirement to qualify for Medicaid and increase the frequency with which people will need to confirm their continued eligibility.

These new requirements were originally set to take effect in 2029 under the bill’s failed House version, but they were moved forward to 2026 in the bill’s passed version.

What would extending the Trump tax cuts mean?

While the phrase «Trump tax cuts» has become a common media shorthand for the Tax Cuts and Jobs Act, the current conversation around it might suggest that new cuts could be on the way. Although Trump has floated ideas for additional cuts, it’s important to note that extending the 2017 provisions would, for the most part, keep tax rates and programs at the levels they’ve been at since then.

So while it may be a better option than having the provisions expire — which would increase certain tax rates and decrease certain credits — extending the tax cuts most likely won’t change how you’ve been taxed the past eight years. However, some estimates have predicted that extending the cuts would boost income in 2026, with the conservative-leaning Tax Foundation in particular predicting a 2.9% rise on average, based on a combination of other economic predictions combined with tax rates staying where they are.

What would change if the Trump tax cuts expire?

Republicans contend that the tax cuts helped a wide swath of Americans, and the Tax Foundation predicted that 60% of tax filers would see higher rates in 2026 without an extension.

A big part of that has to do with tax bracket changes. The 2017 provisions lowered the income tax rates across the seven brackets, aside from the first (10%) and the sixth (35%). If the current law expires, those rates would go up by between 1% and 3%.

Income limits for each bracket would also revert to pre-2017 levels. Lending credence to the Democrats’ counterarguments, these shifts under the Trump tax cuts appeared to be more beneficial to individuals and couples at higher income levels than to those making closer to the average US income.

If you’re interested in the nitty-gritty numbers, you can check out the Tax Foundation’s full breakdown. Another point in Democrats’ favor? The Tax Cuts and Jobs Act also cut corporate tax rates from 35% to 21%, and unlike many of its other provisions, this one was permanent and won’t expire in 2026.

What would happen to the standard deduction?

This is another area in which a lot of people would be hit hard. The standard deduction lets taxpayers lower their taxable income, as long as they forgo itemizing any deductions.

For the 2025 tax year, the standard deduction is $15,000 for individual filers and $30,000 for joint filers. If the tax cuts expire, these numbers will drop by nearly half, down to $8,350 for individuals and $16,700 for joint filers.

Under the current reconciliation bill, the deduction would increase to $16,000 for individuals and $32,000 for joint filers, but only through 2028.

What would happen to the child tax credit?

The child tax credit is one of the most popular credits. Its current levels — $2,000 per qualifying child, which phases out starting at a gross income of $200,000 for single filers and $400,000 for joint filers — were actually set by the Tax Cuts and Jobs Act.

If an extension or new bill isn’t passed, next year the child tax credit would revert to its old levels: $1,000 per child, which starts phasing out at $75,000 for single filers and $110,000 for joint filers.

If the current budget bill is implemented, the credit will be upped to $2,500 per child through 2028, before dropping to $2,000 as its new permanent rate.

Do the Trump tax cuts really favor the wealthy?

Higher-income individuals and couples fared notably better with the changes the Trump tax cuts made to tax brackets. An estimate from the Institute on Taxation and Economic Policy, a left-leaning think tank, found that the poorest 20% of Americans would see only about 1% of the bill’s net tax cuts. Numerous similar estimates agree that these small benefits for the poorest taxpayers would be outweighed by rising costs caused by tariffs.

Conversely, ITEP’s estimate found that the richest 20% of US taxpayers would benefit from around 67% of the bill’s net tax cuts, with the richest 5% benefitting from half of them.

How much would extending the tax cuts cost?

Both the Congressional Budget Office and the Tax Foundation have estimated that the reconciliation bill’s tax cut extension would raise the US deficit by $4.5 trillion over the course of 10 years. The Tax Foundation also estimated that it could raise the country’s GDP to offset that number, but only by about $710 billion, or about 16% of the deficit increase.

For more, see how Trump’s tariffs might be affecting the prices of several key products in our daily tracker.

Looking for the most recent regular Connections answers? Click here for today’s Connections hints, as well as our daily answers and hints for The New York Times Mini Crossword, Wordle and Strands puzzles.

If you’re following the Stanley Cup finals, then today’s Connections: Sports Edition might be a dream puzzle for you. (I still miss my Minnesota North Stars, moved to Dallas before we fans ever got to celebrate Lord Stanley’s Cup. Read on for hints and the answers.

Connections: Sports Edition is out of beta now, making its debut on Super Bowl Sunday, Feb. 9. That’s a sign that the game has earned enough loyal players that The Athletic, the subscription-based sports journalism site owned by the Times, will continue to publish it. It doesn’t show up in the NYT Games app but now appears in The Athletic’s own app. Or you can continue to play it free online.  

Read more: NYT Connections: Sports Edition Puzzle Comes Out of Beta

Hints for today’s Connections: Sports Edition groups

Here are four hints for the groupings in today’s Connections: Sports Edition puzzle, ranked from the easiest yellow group to the tough (and sometimes bizarre) purple group.

Yellow group hint: Rink roles.

Green group hint: Great White North groups.

Blue group hint: Turn that red light on.

Purple group hint: Recent hockey champions.

Answers for today’s Connections: Sports Edition groups

Yellow group: Hockey positions.

Green group: Canadian NHL teams.

Blue group: Types of hockey goals.

Purple group: Last four Stanley Cup winners.

Read more: Wordle Cheat Sheet: Here Are the Most Popular Letters Used in English Words

What are today’s Connections: Sports Edition answers?

The yellow words in today’s Connections

The theme is hockey positions. The four answers are center, defenseman, goaltender and winger.

The green words in today’s Connections

The theme is Canadian NHL teams. The four answers are Calgary, Edmonton, Montreal and Ottawa.

The blue words in today’s Connections

The theme is types of hockey goals. The four answers are empty net, even strength, power play and short-handed.

The purple words in today’s Connections

The theme is last four Stanley Cup winners. The four answers are Colorado, Florida, Tampa Bay and Vegas.

I’ve been writing about the right-to-repair movement and finding more sustainable ways to buy tech for years, but it wasn’t until earlier this year on a routine Tube journey across London that I heard of Back Market, a refurbished tech marketplace originating in France.

While avoiding any possible eye contact with strangers, as is good Tube etiquette, my gaze drifted up to a Back Market advert above the window pane. «Sorry, cats. Tech now has multiple lives too,» it said. It was amusing and immediately made me want to know more.

It turned out that I was late to the party, and this was just one of many cheeky ads that Back Market has run on the London Underground network and beyond. The company’s campaigns aim to normalize buying refurbished tech by making it fun, Back Market’s CEO Thibaud Hug de Larauze said at SXSW London on Tuesday.

«Don’t make people feel guilty, like you’re a bad person because you’re buying new,» he said. «It’s not going to work. It’s not going to change people’s behavior.»

Extending the lifespan of our phones, laptops and other tech products, whether through repair, responsible trade-ins that prioritize recycling or buying refurbished devices, is critical to ensure we’re not wasting precious minerals and exerting pressure on the natural world in ways that contribute to the climate crisis. It’s serious stuff, but Back Market’s lighthearted approach is about sparking «a joyful revolution» in the world of refurbished tech, Hug de Larauze said.

Buying into this revolution is good for the planet and protecting the well-being of the people in developing countries, whose health is impacted by mining for minerals or recovering them from discarded e-waste. It’s also good for another reason – avoiding price rises on new tech sparked by tariffs.

The repair and refurbish movement

Back Market isn’t the only marketplace willing to pay for your old tech and sell you a refurbished device, but it’s one part of a more widespread movement for change. Earlier this year, the company partnered with iFixit, which equips people around the world with the tools they need to repair their own tech while advocating for right-to-repair legislation.

«We want to enable people to repair by default, if they want and if they can,» Hug de Larauze said. «If they cannot, let’s trade in easily and adopt a refurbished one.»

Together, the companies encourage people to increase the time they hold onto their phones to five years, rather than the current average of two and a half years. They’re also applying pressure to phone manufacturers to increase software support to 10 years.

But Hug de Larauze has an even bigger request for tech companies, which he describes as «the next fight we need to push for.» 

When tech manufacturers cease to provide ongoing support for devices, he wants them to unleash the hardware they’ve made so that it can be fully divorced from the operating system. The idea is that an old iPhone, for example, could get a new lease on life as something like a baby monitor or security camera if combined with different software.

This feels like a big ask for tech companies, with the main argument against the proposal likely to center on security concerns. Still, the world of refurbished tech is changing quickly. Over a million refurbished devices were purchased through Back Market last year alone and, according to Hug de Larauze, there are already signs that people are holding onto their smartphones for longer and trading in more often.

«For me, it’s about building a global ecosystem of service for everybody to basically access to repair by default,» he said. «Obviously, keep the device longer, but if for some reason you cannot, then easily trade it in and access refurbished devices instead.»