I'm at a Beyoncé Talking About the Budget Bill. Yes, I'm Serious. Aaron Parnas Jul 8 I’m at a Beyoncé concert in Washington, D.C., and overheard two people talking about the federal budget bill. One said she was scared—not just about what’s in the bill, but that so few people around her even knew what was in it. Yes, really. It’s a reminder that politics doesn’t stay online. People are paying attention, even in unexpected places. And they’re right to be worried. That’s why I’ve made it my mission to break down what’s buried in this bill—and if you care about staying informed, I hope you’ll subscribe. I’ll be covering every major section in the days ahead, even if I am at a concert: This isn’t just another round of partisan theater. It’s the largest single attack on America’s social safety net in modern history. The Cuts: $930 billion from Medicaid Hundreds of billions slashed from SNAP (food assistance) Over 11 million projected to lose health insurance And buried deep inside, even worse: Incentivizing SNAP Fraud To reduce federal SNAP spending, the bill shifts costs to states—unless they have a high “error rate,” like Alaska. That creates a backwards incentive: the sloppier the program, the better the deal. The silencer subsidy The bill repeals the $200 tax on gun silencers—one of the few longstanding gun regulations still in place. A Senate attempt to eliminate silencer registration was blocked, but the tax repeal alone is alarming. The Spaceport Sweetener Section 70309 allows tax-exempt bonds to fund spaceports—an obscure carveout seemingly designed to benefit one company: Space Florida. There’s no broader justification. No Tax on Oil Drillers Domestic oil and gas companies are exempted from the corporate alternative minimum tax—if they report “intangible drilling costs.” A windfall for fossil fuel interests, inserted by Sen. Lankford (R-OK). Subsidies for Foreign Steelmakers The bill makes metallurgical coal—used in steelmaking—eligible for “critical mineral” subsidies through 2030. Much of this coal is exported to countries like China and India, effectively subsidizing foreign polluters. Statues Over Safety Nets Even as it slashes basic assistance programs, the bill allocates $40 million to build a “Garden of Heroes” statue park in Washington, D.C. Punishing Gamblers, Not Gambling Gamblers can now deduct only 90% of their losses, meaning you could owe taxes even if you lost money. The bill does nothing to address the real problem: mobile apps fueling a wave of gambling addiction. SALT for the Rich Republicans raised the SALT deduction cap from $10K to $40K—then quietly dropped planned guardrails on high earners. The result: a $35–40 billion tax break for the wealthy. Tax Breaks for Rum Distributors Yes, rum. Liquor exporters in Puerto Rico and the U.S. Virgin Islands secured a $2 billion tax rebate—another lobbyist win buried in the fine print. More Chipmaker Subsidies—Despite Public Claims Trump attacked the CHIPS Act in his State of the Union. This bill increases CHIPS subsidies by 40%. I’ll keep breaking down the pieces of this bill as they come out. If you want clear, plain-English coverage of what’s actually being passed, [subscribe here] to stay in the loop. Because if people are whispering about this at a Beyoncé concert, it deserves a whole lot more daylight.