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Today, Congresswoman Veronica Escobar (TX-16) released the following statement on this week’s damning analysis of Trump’s “big, beautiful” bill by the non-partisan Congressional Budget Office:

“Thanks to Congressional Republicans and Donald Trump, nearly 120,000 El Pasoans will take a $1200 annual financial hit from the so-called ‘One, Big, Beautiful Bill.’ El Pasoans are already struggling to afford essentials, but rising inflation and cuts to healthcare and nutrition programs will make life even harder for lower-income families while millionaires, including Donald Trump, are about to get richer. 

“Despite promising to cut costs for hard-working Americans, people are struggling, and the CBO report indicates the struggles will be getting even worse for anyone making less than $51,000 per year. Democrats will keep seeking bipartisan support to help Americans in need, but unless we can find at least three Republicans willing to help us work on this self-inflicted affordability crisis, we must prepare lower-income El Pasoans (and consequently our local economy) for the hit that will come beginning next year.”

Background: 

• Under this plan, working families already stretched thin will take the biggest hit, losing about $1,200 a year, mostly from deep cuts to Medicaid and food assistance. That’s a 3 percent loss of their total income, a devastating blow for those who can afford it least.
• Middle-class families will get next to nothing in return. Most will see an increase of less than 1 percent of their income, hardly enough to keep pace with rising costs fueled by President Trump’s reckless policies.
• Meanwhile, the ultra-wealthy would receive a windfall. Households making more than $700,000 a year will pocket an extra $13,600 a year, almost entirely from tax breaks (and this figure does not include the massive estate tax giveaways showered on the richest few). 
• Previous analysis shows that Trump’s legislation will cause nearly 1.7 million people in Texas to lose their health insurance. 
• Across Texas, at least 275,000 people could lose some or all food assistance, making it even harder for families to feed their children. 
• In Texas, Trump’s bill will raise energy costs by an average of $780 and put 15 rural hospitals at risk of closing their doors. 

Read the new report from the Congressional Budget Office here.