Republicans Just Attacked US Innovation
The damage the GOP tax bill will cause to cutting-edge science and technology will be felt for decades.
The victims range from deep tech startups to wind and solar power.
Photographer: Scott Olson/Getty Images North AmericaPresident Donald Trump’s “One Big Beautiful Bill” is now law. That means Americans should prepare for a multi-trillion dollar tax cut that will overwhelmingly benefit the wealthy, a more than $1 trillion cut to Medicaid and other safety-net programs, a $5 trillion increase in the debt ceiling and a $150 billion boost to the administration’s crackdown on immigration. But there’s also another critical impact that’s harder to put a figure on: This bill is a declaration of war on American science and innovation.
To understand why, it’s important to start with its effect on the deficit. The Congressional Budget Office estimates that the bill will increase the national debt by nearly $3 trillion over the next decade — though other estimates peg that number much higher.