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,

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

“Depending on your perspective, this bill contains either a number of Easter eggs or a number of Trojan horses for individuals and the economy,” said Brian Marks, a senior lecturer in the department of economics and business analytics at the University of New Haven.