NerdWallet's Smart Money Podcast SALT Cap Raised, Clean Energy Credits Ending: Adapt Your Finances to the “Big, Beautiful Bill”
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Jul 17, 2025 Anna Helhoski, a senior news writer, delves into the implications of a major budget bill on taxes, detailing changes like new car loan deductions and clean energy credit rollbacks. She also discusses how these shifts may impact future tax strategies. Personal finance expert Kate Ashford then offers advice on managing finances while on disability, covering key topics like SSDI vs. SSI, saving strategies, and the emotional aspects of financial transitions. Essential insights for adapting to life’s changes and navigating financial challenges abound!
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Massive Cuts to Health Programs
- The Big Beautiful Bill introduces major cuts to Medicaid, Medicare, and the ACA, totaling $930 billion over 10 years.
- New work requirements and eligibility tightening will reduce health coverage for millions starting from 2025 to 2028.
Tightened SNAP Eligibility and Cuts
- SNAP food assistance will face cuts and new work requirements, tightening eligibility and increasing state costs.
- Work requirements expand to include able-bodied recipients ages 18 to 64 and some with children older than six.
ACA Premiums Could Skyrocket
- Changes to ACA rules will spike marketplace premiums 25% to 100%, potentially making health insurance unaffordable for many.
- These changes could cause 4.2 million more uninsured people by 2034.