Republicans Just Attacked US Innovation: Gautam Mukunda

President Donald Trump’s “One Big Beautiful Bill” is now law. That means Americans should prepare fora 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 ...