U.S. House of Representatives Speaker Mike Johnson looks at U.S. President Donald Trump signing the sweeping spending and tax legislation, known as the "One Big Beautiful Bill Act," to mark Independence Day, at the White House in Washington, D.C., U.S., July 4, 2025.

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,