Sen. Merkley says “GOP’s agenda is families lose, billionaires win” a year after Republicans “forced through” bill he claims slashed programs for working families while giving tax breaks to billionaires

Oregon – “One year ago, the GOP forced through the Big, Ugly Betrayal—slashing the programs working families count on to hand tax breaks to billionaires,” Oregon Senator Jeff Merkley said in a July 5 statement criticizing President Donald Trump’s signature tax and spending legislation.

“Their agenda: families lose, billionaires win. I’m fighting for a future where families thrive and billionaires pay their fair share,” Merkley wrote.

Merkley’s comments came as he marked the anniversary of the Republican-backed legislation, which he referred to as the “Big, Ugly Betrayal,” a reference to the bill officially known as the One Big Beautiful Bill Act.

Vermont Senator Peter Welch also criticized the legislation, sharing a list of what he described as the consequences of the law since its passage.

“It’s been a year since Republicans passed President Trump’s so-called ‘One Big Beautiful Bill,'” Welch wrote. “In that time:”

Welch claimed that energy prices increased, inflation reached a three-year high, millions of Americans lost health coverage and thousands of healthcare facilities faced closures. He also argued that healthcare premiums increased for millions of families and that food assistance cuts affected millions of recipients, including children.

“He took billions from working families so he could give billionaires like himself massive tax cuts. Our country is paying the price,” Welch said.

Republicans have defended the One Big Beautiful Bill Act, arguing that the legislation provides tax relief, encourages economic growth and reduces government spending. Supporters have said the law protects taxpayers and strengthens the economy by extending key provisions of the 2017 tax cuts while making changes to federal programs.

The legislation, which was passed by Republicans in Congress and signed by President Trump, includes major changes to federal taxes, healthcare programs, energy policies and government spending. The bill extended several individual tax provisions, increased deductions for some taxpayers, changed eligibility rules for certain federal assistance programs and included new spending priorities supported by the Trump administration.

Democrats have strongly opposed the law, arguing that the tax changes disproportionately benefit wealthy Americans and corporations while reducing support for working families. Critics have focused particularly on changes involving Medicaid, food assistance programs and other social programs, warning that millions of Americans could lose access to benefits.

The political debate surrounding the legislation has intensified as recent reports have highlighted significant growth in President Trump’s personal wealth.

According to a Washington Post report published July 1, Trump’s wealth has increased on a scale that the newspaper described as unprecedented for a modern U.S. president. The report examined the growth of Trump’s assets, including gains connected to real estate, branding, cryptocurrency ventures and other business interests.

The report came amid broader scrutiny over Trump’s financial activities while serving as president, with critics arguing that his expanding wealth raises questions about conflicts of interest and the relationship between presidential power and private business.

Supporters of Trump have argued that his business success is separate from his role in government and that he has complied with required financial disclosure rules.

The renewed criticism from Merkley and Welch reflects a larger partisan divide over the impact of the One Big Beautiful Bill Act, with Democrats continuing to argue that the legislation favors wealthy Americans while Republicans maintain that it delivers economic benefits for the broader public.