The Senate unveils its version of the reconciliation bill

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News, Business

4.8 • 1.3K Ratings

🗓️ 17 June 2025

⏱️ 13 minutes

🔗️ Recording | iTunes | RSS

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Summary

Today, we take a deep dive into the provisions affecting small businesses and taxes in the “One Big Beautiful Bill,” which aims to enact President Donald Trump’s agenda. The bill passed the U.S. House of Representatives in May, and the U.S. Senate released its proposed version of the bill on Monday. The Senate’s draft upheld many policies from the House of Representative’s version, including cuts to the Supplemental Nutrition Assistance Program. We explain how the ripple effects of those cuts could affect small businesses such as grocery stores and farmers. Also, we dig into the implications of the Senate’s proposal to make permanent several business tax breaks.

Here’s everything we talked about today:

“Here’s what’s in the Senate GOP’s version of Trump’s ‘big, beautiful bill’" from The Hill
“Senate Republicans seek tougher Medicaid cuts and lower SALT deduction in Trump’s big bill” from The Associated Press
“Tax Cuts and Jobs Act: A comparison for businesses” from the Internal Revenue Service
“The Farm Safety Net: A Closer Look at ARC and PLC” from the National Sustainable Agriculture Coalition

Got a question for the hosts? Email [email protected] or leave us a voicemail at 508-U-B-SMART.

Transcript

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0:00.0	Hey, if you're listening to this, I will assume you're at least interested in money,
0:04.5	understanding the economy, and finances as well.
0:07.0	And some of us now want to get the next generation interested as well.
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0:22.4	Million Billion is presented in partnership with Greenlight, the debit card and money app for kids and teens.
0:27.0	Greenlight helps kids and teens learn to earn, save, spend wisely, and invest.
0:31.5	When you sign up for a Greenlight account at greenlight.com slash million.
0:41.2	Musiccom slash million. Hey everybody.
0:42.5	I'm Rima Grays.
0:43.3	Welcome back to Make Me Smart,
0:44.8	where we make today make sense.
0:46.8	And I'm Kimberly Adams.
0:47.8	Thanks everyone for joining us on Tuesday, June the 17th.
0:51.3	And we are continuing our deep dive this week into the reconciliation package,
0:56.1	also known as the one big, beautiful bill act.
1:01.2	It's bad every time.
1:03.0	We should count how many times you've said that in the show now. I know, it doesn't get easier.
1:07.4	And today, we're going to break down questions about how the bill affects small businesses and taxes.
1:14.2	Yeah, so to get into that, we have a listener question from Helen in Carmel, California, who wrote in to ask,
1:21.3	the cuts to food benefits for the elderly and poor will not only impact the recipients, but also the providers, which include
	...

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