President Trump's signature tax and spending legislation, the "big beautiful bill," is now law, and that means cuts to Medicaid spending. The big picture: The law sets in motion almost $1 trillion in slashes to Medicaid and other health policy changes,

President Donald Trump's tax cut bill would enact steep cuts to the nation's safety-net health insurance program for low income families.

Now that the tax and spending bill has been signed into law, how it will impact the finances of Americans is more clear.