Trump’s “Big Beautiful Bill” Is a Grotesque Giveaway to Fossil Fuel Billionaires While Adding $3.3 Trillion to Nation’s Debt

 

Trump’s “Big Beautiful Bill” Is a Grotesque Giveaway to Fossil Fuel Billionaires While Adding $3.3 Trillion to Nation’s Debt

By Pam Martens and Russ Martens: June 30, 2025 ~

Donald Trump and Charles Koch

Aren’t Republicans the candidates who got elected promising to bring down the spiraling U.S. debt and annual deficits? Yesterday, the national debt clocked in at $37 trillion as the Congressional Budget Office (CBO) released a report showing that President Donald Trump’s “One Big Beautiful Bill Act” would add $3.3 trillion to the national debt over the next decade.

Donald Trump has been a master of Orwell’s reverse-speak throughout his life. So when he labels federal legislation “Beautiful” when it actually gives massive tax breaks to the wealthiest Americans while cutting critical food and health care benefits to the poor and middle class, Americans should finally accept that they have a clear window into the soul and sociopathy of multi-billionaire Donald Trump.

Among the biggest winners, of course, is the fossil fuel industry and the political kingpin of that industry, Charles Koch, whose fortune is estimated by Forbes to be $67.5 billion.

Perhaps because of the scorched-earth attack taken by Charles Koch to the investigative reporting of The New Yorker’s Jane Mayer on his and his brother David’s activities, corporate media seems reticent to link Koch with Trump.

That has not been the case here at Wall Street On Parade. See these titles as a tiny sampling:

Trump’s Nominees Are Being Hand-Picked to Enact a Dangerous Platform the Koch Brothers Made Public 44 Years Ago

The Supreme Court’s EPA Decision Is One More Win for Charles Koch’s Dystopian America

The Glue that Connects Jeffrey Clark, John Eastman, Ginni Thomas, and the Guy Who Was Air-Dropped into the DOJ, Is Charles Koch’s Money

As BP, Shell, ExxonMobil Announce Cutting Ties to Russia, Oil Baron Charles Koch Remains Silent About His Sprawling Russian Operations

Now, the details of what exactly is in that “Big Beautiful Bill” that Donald Trump wants to ram through Congress are coming to light and it’s obvious that the fossil fuel billionaires are having their way with Trump once again.

Last week, as Northeast cities and towns were setting ungodly heat records of more than 100 degrees, thanks to the dangerous heating of the planet from fossil fuels (in what should have been the blissful days of springtime weather) Trump was yelling in all caps on his propaganda/vanity platform (known ironically as Truth Social) for the Department of Energy to “DRILL, BABY, DRILL!!! And I mean NOW!!!”

It is frightening enough that a 34-count convicted felon has gained control of the Oval Office, the U.S. military, the Republican majority in Congress, and has put his grossly conflicted loyalists in charge of federal law enforcement and regulatory agencies, but now it appears that Trump actually believes the DOE – a regulatory agency – has the power to order private industry to “DRILL, BABY, DRILL!!!” at his command – like a dictator in a communist country.

Koch’s Freedom Partners front group exhibited a very large footprint in the first Trump administration. In a document titled “Roadmap to Repeal: Removing Regulatory Barriers to Opportunity,” (more reverse-speak) the Koch front group listed the laws and regulations impacting fossil fuels that it expected to be repealed in the first 100 days of Trump’s first term as president. The Trump administration dutifully followed the demanded agenda, repealing the Paris Climate Accord to the shock of our allies; passing obscene tax cuts for the wealthy; and gutting federal regulations and the Environmental Protection Agency.

By the spring of 2018, 12 people who previously worked at Freedom Partners were working in the Trump administration. When we looked at the makeup of Freedom Partners in 2018, we found that all but one of Freedom Partners’ 9-member Board of Directors was a current or former Koch company employee. The Board Chair of Freedom Partners at that time was the same Mark Holden that was the General Counsel of Koch Industries, the fossil fuels conglomerate that has made Charles Koch a billionaire.

 In September of 2022 we sent an email inquiry to the Federal Election Commission, asking the following:

“The fossil fuels conglomerate, Koch Industries, which is privately-owned by billionaire Charles Koch and the heirs of his late brother, David, owns a massive voter database, data mining, get-out-the-vote operation, etc. called i360.

“As you will see from the FEC link below, i360 is selling its services to a multitude of Republican candidates for seats in the House and Senate, as well as to PACs that in turn support those candidates.

“My question is, how is it legal for a privately-owned fossil fuels conglomerate to operate i360, effectively a more sophisticated version of the Republican National Committee.

“My second question is, how does the public know that i360 isn’t charging $50,000 for a service and providing $250,000 in actual services to the candidate that it believes will vote on behalf of the fossil fuel agenda in Congress?

“And, finally, Koch Industries and/or Charles Koch also fund various front groups, like the former Freedom Partners [Action] and the ongoing Americans for Prosperity [Action], which finance attack ads against candidates opposing Koch-supported candidates. How is this broad sweep of campaign operations legal for a sprawling, privately-owned fossil fuels conglomerate operated by a billionaire?”

The FEC responded, advising that we could file a complaint with the FEC if we felt campaign laws were being violated. The problem with that is the same entities – Charles Koch and Koch Industries – were part of a corporate network that pushed Citizens United to the Supreme Court and got an effective rewrite of campaign finance laws in 2010, so that corporations and the ultra wealthy now have a far superior advantage over average citizens when it comes to electing political candidates.

Yesterday, Thor Benson of Rolling Stone revealed the catastrophic attack on clean energy in the grotesque Big Beautiful Bill, writing as follows:

“The latest version of the bill would be particularly catastrophic for wind and solar. Republicans not only want to significantly cut tax credits for these clean energy projects, they want to impose new taxes on them for the first time…

“The latest version of the bill slashes tax credits for wind and solar projects, while offering them for coal production. ‘Utterly insane and destructive,’ Elon Musk wrote of the bill on Saturday. ‘It gives handouts to industries of the past while severely damaging industries of the future.’ ” 

It’s all enough to make Americans sick to their stomach. But is it enough to turn out 50 million protestors at the next “No Kings” marches?

FacebookTwitterWhatsAppLinkedInEmail

Trump Recalls 'The Late, Great Hannibal Lecter' While Touting Dropped Border Crossings THIS IS DEMENTIA!

 

ICE GESTAPO ZEALOTS ARE DEPORTING WORKERS - INNOCENT PEOPLE 

WHO ARE FILLING JOBS, CREATING BUSINESSES, RAISING FAMILIES IN 

PEACE....NOT CRIMINALS! 

WHO DO YOU THINK IS GOING TO DO THOSE JOBS? PICK CROPS? 

At a White House event promoting the Big Beautiful Bill, President Trump touted border crossing numbers since he retook office.

Warren Slams Trump’s War in Iran, Exposes 10 Ways Big Beautiful Bill Increases Costs

 

Senator Elizabeth Warren

147K subscribers

Senator Warren's floor speech on June 24, 2025.

Elizabeth Warren

 

Hi, it’s Gabby Giffords. I wanted to make sure you saw this message from Senator Elizabeth Warren.

As I write this, Senate Republicans are preparing to force a vote on Donald Trump’s “big, beautiful bill” this week. And it includes the provision to make it easier to obtain gun silencers.

The only people who will benefit from this are criminals and the corporations selling these devices. It’s shameful, which is why we must raise our voices right now.

I hope you will read Senator Elizabeth Warren’s message, then rush a donation to help GIFFORDS PAC continue this work today. We cannot stay silent.

---------- Begin forwarded message ---------
From: Elizabeth Warren
Subject I have an urgent update you need to hear.

Hi  — Elizabeth Warren here, reaching out on behalf of my friend Gabby Giffords. I have an urgent Senate update you need to hear.

Donald Trump and MAGA Republicans just included a provision in their “big beautiful bill” that would make it easier to buy dangerous gun silencers. Victims of mass shootings wouldn’t even hear their attacker.

This is sickening. And it’s a massive gift to the gun lobby at the expense of public safety. That’s why I’m reaching out to you today.

GIFFORDS is fighting on the front lines to stop this provision, and they could use more grassroots donations to stand up against the Trump administration. Will you join me in supporting GIFFORDS right now?

DONATE

Gun silencers make it harder for police to track shootings because they can’t figure out where the shots are coming from. Having even more silencers flood into our communities will only make us less safe. It’s common sense.

But it’s clear Donald Trump and Republicans do not care. The only thing they want is to give tax breaks to their gun CEO buddies and help them profit even more.

We are still debating this bill in the Senate right now, so you can bet that I will continue raising hell to remove this section from the bill. But I cannot take on this fight alone.

Will you make a $3 contribution to GIFFORDS before midnight? We cannot sit back while Donald Trump and Republicans try to turn back the clock on our progress.

If you've stored your info with ActBlue, we'll process your contribution instantly:

Donate $3   Donate $25

Donate $50   Donate $100

Donate $250   Other Amount

We can — and must — win this battle against the gun lobby. Thank you for anything you can give to help GIFFORDS.

— Elizabeth Warren

 

Paid For By Giffords PAC; not authorized by any candidate or candidate's committee. www.Giffords.org

 

Scott Bessent’s Disdain for the Working Class House Committee Hearing Reveals Ugly Side of the Treasury Secretary MeidasTouch Network Jun 18 Guest article by Max from UNFTR After a whirlwind trip to continue negotiations with trade delegates from China to (supposedly) iron out President Trump’s insane tariff war, a jet-lagged Scott Bessent in all his smug glory sat before the House Ways and Means Committee to discuss a wide range of topics—from tariffs and income tax to the potential impact of the Big Beautiful Bill Act making its way through the Senate. Predictably, the House Republicans showered him with praise for his steady hand and for making such a long trip to do his job. Meidas+ is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber. House Democrats, on the other hand, were less receptive. These committee hearings tend to be political theater and grandstanding platforms for congresspeople looking to score points on social media and in their respective echo chambers. But every so often, there are revealing exchanges that tell us something more. Three exchanges in particular stand out today that reveal Bessent’s shocking level of disdain for the American people. Defunding the IRS During an exchange regarding cuts to IRS staffing levels, Bessent said the following: “The IRA [Inflation Reduction Act] bill swelled the ranks of the collection agents, and because—the Democrats did that because it gave them a good score. The CBO [Congressional Budget Office] said if you hire more bodies then there should be more collections. Data, I believe, has shown that that is not true. It would be like saying if we draft Scott Bessent and we have him play against LeBron James he will do fine. That these new auditors are not equipped to audit sophisticated taxpayers. They would undoubtedly be unleashed against working Americans.” First of all, the LeBron analogy is the ultimate false equivalency. Staffing auditors to fill positions in a severely understaffed IRS is not the same thing as putting the Treasury Secretary on the basketball court. Beyond this clear falsehood, the subtext of his statement shows a complete disdain for working people. To suggest that you need to be LeBron-level capable in your chosen field to follow instructions for auditing a tax return is deplorable. He’s basically saying the average American worker the government hired to fill these positions is too stupid to read a tax return. Hold that under your hat because you’re going to notice a pattern in his responses. The deeper issue here is that he’s lying about the results. We can disagree on the efficacy of the Biden administration's broader economic vision. I have an endless number of critiques regarding Biden’s “Bottom-Up/Middle-Out” strategy, as many of the measures adopted in both the American Rescue Plan and the Inflation Reduction Act had latent economic benefits; the issue was that they were devoid of immediate economic relief programs that would have bridged the gap between the current pain in the broader economy and the eventual economic lift the bills would have had. Perhaps the biggest risk to these bills at the time was the prospect of Biden being defeated by Trump. On balance, these were good bills, but the provisions eliminated by the likes of Joe Manchin and Kyrsten Sinema in a capitulation to the GOP had the potential to make an immediate positive impact. So here we are. “Bessent is an elitist snob who wears his disdain for Congress, the media, and clearly the American people on his face and on his sleeve.” But one of the things the IRA specifically accomplished was to bring high-income tax evaders and avoiders to the table to pay their fair share. (Okay, maybe not fair, but at least what they owed.) In 2024, the IRS went after 125,000 high-income individuals who hadn’t filed returns since 2017, and they had already compelled 21,000 of them to cough up taxes. It also went after approximately 1,600 millionaires with delinquent tax debt, and to date, 80% of them have made payments, leading to more than a billion dollars recovered. In the grand scheme of things, this is a drop in the bucket, but it forced compliance among the wealthy to stop evading taxes. But note that Bessent said he believes the data aren’t true. The data, by the way, came from the Treasury—not the CBO—so he’s basically saying the information that came from the department he’s in charge of is bullshit. You can’t make this up. Gutting Medicaid Now, another part of the Big Beautiful Bill Act that is an absolute disaster is the cuts to healthcare. To be clear, I’m a vocal proponent of Medicare for All and have written at length about it, but to the extent that the Affordable Care Act (ACA) is the law of the land, it’s imperative that we protect the millions of Americans who rely on the extension of Medicaid protections that are in the bill. In fact, an amendment was proposed to preserve Medicaid, but it was universally shot down by House Republicans. When the question was posed to Bessent as to whether he would have supported the bill to preserve health coverage for millions of Americans, he responded simply by saying, “No.” Bessent isn’t in Congress so it’s a hypothetical and doesn’t matter, of course. But what it reveals is a shared sentiment among Republicans that access to healthcare for the nation’s poor and working class means nothing to them. That’s because the Big Beautiful Bill Act that passed the House is a functional repeal of the ACA. It is a procedural gutting of Medicaid because it eliminates automatic re-enrollment, requires detailed documentation to maintain tax credits and coverage, and allows enhanced tax credits to expire. It also creates shorter enrollment periods and increased paperwork to even participate, along with work requirements that completely overlook stay-at-home caretakers as an example. Ultimately, it cuts around $880 billion in state funding as well, which will have an outsized impact on states that are ultimately responsible for the administration of Medicaid. It’s an absolute bloodbath for the poorest people in this country—and they couldn’t care less. The Debt Ceiling Now this last exchange is perhaps the most revealing on so many levels. By this point, Bessent had already been in a testy exchange with a female member of Congress who insisted he stop trampling over her to mainsplain her own questions. So when Representative Terri Sewell of Alabama had her turn, she noted that her questions came from her constituents and asked him about lifting the debt ceiling. We’ll talk about the substance in a moment, but once again Bessent couldn’t help but reveal his utter disdain for the American people when starting his response: “Congresswoman, I want to congratulate you. You have a very sophisticated constituency to ask questions like this.” Rep. Sewell interrupted his answer, saying, “With all due respect, just because you’re poor doesn’t mean you're ignorant.” He could have left well enough alone at this point, but he had to double down by saying, “I’m in the habit of saying ‘thank you’ to compliments.” As for the substance of the matter, suddenly the GOP is all about lifting the debt ceiling even though they weaponize it against Democratic administrations time and time again. The reason they’re trying to memorialize an elevated debt ceiling as part of this bill is because the GOP spending plan and tax cuts combine to deliver a whopping $2.4 trillion to the federal debt over and above what it was projected to be under Biden. To a large extent, I belong to the “we can afford it” camp so long as we’re reducing inequality, spending on social safety nets, offering federal job guarantees, and providing health coverage to every American. What we can’t afford is to continue the practice of welfare for the wealthiest among us who turn around and buy our elections while we eradicate programs that literally feed, clothe, house, and care for people. Low Bar for High Hopes What’s fascinating about a guy like Bessent is that, believe it or not, I had high hopes that he would be the adult in Trump’s romper room cabinet. The Treasury Secretary is an important position, and no matter your feelings about prior secretaries like Tim Geithner, Hank Paulson, Jack Lew, Janet Yellen, or even Steve Mnuchin, these were professionals with financial pedigrees who at least pretended to care about the working class. But Bessent isn’t the adult I had hoped for, and he has revealed himself to be an elitist snob who wears his disdain for Congress, the media, and clearly the American people on his face and on his sleeve. Not for nothing, the first Treasury Secretary we had in this country was Alexander Hamilton. The immigrant. In the end, he’s just another hedge fund jackal purportedly worth hundreds of millions of dollars who likes to remind us all that he took a pay cut for this job. And his sole mission appears to be to take care of his people even if he has to do so by picking the last dime out of your pocket. I know these hearings go nowhere and the cast is set for the Big Beautiful Bill Act to tear apart the country, but I’m glad that he had to listen to how some of us feel about him. To recap for good measure, in just this one hearing he called the staff of the Treasury, CBO, and Congress liars; said that Americans are too stupid to work at the IRS; he’s fine gutting Medicaid knowing that millions of Americans are going to lose health coverage; lifting the debt ceiling to make way for Trump’s tax cuts is the only acceptable circumstance; and that even when he’s delivering a backhanded compliment, women should say thank you. Max is a contributor to the MeidasTouch Network and President of UNFTR Media. For deeper dives into economic and socioeconomic stories, visit UNFTR.com or @UNFTR on YouTube. Meidas+ is a reader-supported publication. To receive new posts and support our work, consider becoming a free or paid subscriber. Sources https://home.treasury.gov/news/press-releases/jy2562 https://tcf.org/content/commentary/one-big-beautiful-bill-act-is-a-repeal-of-the-affordable-care-act-by-another-name/ https://kffhealthnews.org/news/article/trump-big-beautiful-bill-obamacare-repeal-aca-gop-medicaid/ https://www.aha.org/fact-sheets/2025-06-05-fact-sheet-one-big-beautiful-bill-act-would-significantly-reduce-availability-coverage-health-insurance

BREAKING: Bernie Sanders Unleashes On Sec. Bessent Over Trump's Tax Cuts For 'Multibillionaires'

 

$235 BILLION TAX CUTS FOR THE WEALTHY!

SCOTT BESSENT PROPAGANDA!

During a Senate Finance Committee hearing, Sen. Bernie Sanders (I-VT) grilled Treasury Secretary Scott Bessent about tax and healthcare cuts included in the Big, Beautiful Bill. Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:

New Poll Proves Budget Bill Will Cost Republicans EVERYTHING

 

IF REPUBLICANS DIDN'T LIE, NO ONE WOULD VOTE FOR THEM! 

THIS IS ONE MASSIVE LIE!

The DEBT CLOCK reports that the U.S. DEBT is approaching $ 37 TRILLION!

https://www.usdebtclock.org/ If Republicans didn't LIE, no one would vote for them! Don't believe ANYTHING MAGA MAGGOTS say about this MONSTER DISASTER!

It DESTROYED MEDICAID! 1 IN 5 AMERICANS ARE ON MEDICAID! It provides for nursing home care, care to keep SENIORS in their homes, care for adopted & foster kids, & much else.

DESTROYING MEDICAID will cause RURAL HOSPITALS TO CLOSE, eliminating any available health care. YES! AMERICANS WILL DIE AS A CONSEQUENCE!

FOOD PROGRAMS ELIMINATED because MAGA GOP have no problem with HUNGRY AMERICANS! MAGA GOP have included lots of PORK beyond TAX CUTS FOR THE WEALTHY that will explode the DEEFICIT & DEBT! $40 MILLION for a TRUMP PARK in SOUTH DAKOTA! It will DESTROY NON-PROFITS! It will DEFUND COURTS! A provision was included the will REDUCE MEDICARE REIMBURSEMENT TO PROVIDERS BY 5% A YEAR! PROVIDERS will drop MEDICARE! PASSED AFTER A 1 AM HEARING TO EXCLUDE THE PUBLIC & avoid DEBATE! + 1,000 PAGES TO DESTROY THE NATION! CREDIT RATING AGENCIES have downgraded the U.S. CREDIT - which means INTEREST RATES will rise & WEALTHY MISFITS who surround TRUMP will profit, while the U.S. DOLLAR is devalued. MAGA GOP did NOT read what they SUPPORTED & have admitted so!  

TAX CUTS FOR THE WEALTHY AT YOUR EXPENSE?  

OFFICES ARE CLOSED! STAFFS FIRED! GOVERNMENT NO LONGER WORKS!

Call IRS! There are recordings announcing that no one is available to take your call & hang up!

Have a SOCIAL SECURITY PROBLEM? There is no one to help! Want an accurate WEATHER WARNING? STAFF FIRED!

Want to go to a NATIONAL PARK? NO STAFF! Want ACCURATE HEALTH INFORMATION? PURGED by long term HEROIN ADDICT BRAIN WORM RFK JR & experts fired.

ANTI-VAX BOOB made + $10 MILLION from his ANTI-VAX ORGANIZATION & SENATOR ELIZABETH WARREN challenged him to relinguish his interests which he refused. RFK JR is profiting from his position. fROM 2023 - SO FIGURES ARE UNDERREPORTED: THE U.S. PROFITS FROM FOREIGN STUDENTS THAT TRUMP HAS BANNED:

One Million International Students Contributed $40 Billion To U.S. Economy https://www.forbes.com/sites/annaesakismith/2023/11/13/one-million-international-students-contributed-40-billion-to-us-economy/

Farron Balanced

827K subscribers

Jun 9, 2025 ✪ Members first on June 8, 2025 Farron Balanced

Donald Trump's "big, beautiful bill" might be one of the least popular pieces of legislation in modern American history, and a new survey released on Friday shows that it could cost Republicans EVERYTHING in next year's midterms. Republicans have tried everything they can think of to sell this bill to the public, but it turns out that none of it is working. Americans see right through the lies of the GOP, as Farron Cousins explains. Link - https://www.rawstory.com/dire-consequ... Become a member for EARLY ACCESS to videos:    / @farronbalanced   Follow me on social media! https://bsky.app/profile/farronbalanc...   / farronbalanced     / farronbalanced   https://www.threads.net/@farronbalanced   / farronbalanced     / farronbalanced   Listen to my videos in an audio format by subscribing to my podcast: https://farronbalanceddaily.buzzsprou... Don't forget to like, comment, and share! And subscribe to stay connected!

Explore the podcast

4,857 episodes

Farron Balanced

Farron Balanced