
Medicaid cuts in "big, beautiful bill" worry some Tri-State Area families
To pay for that, lawmakers made deep cuts to safety net programs, including Medicaid, which is concerning for some families in the Tri-State Area.
"What are we supposed to do?"
Theresa Luoni, of Basking Ridge, New Jersey, is a full-time caregiver for her autistic twin sons.
"They both get speech and occupational therapy through Medicaid, and they rely on these systems for not just their health care but their education," she said.
She now worries what will happen to her family as the federal tax and spending bill passed by Congress aims to cut nearly $1 trillion from Medicaid.
"So to think that there won't be a reduction in services is kind of silly when there's so much money being cut from the budget," Luoni said.
Luoni is waiting to see what, if any, of her sons' services that are funded by Medicaid will be impacted.
"I think all the parents of vulnerable children — whether you're living in poverty or have disabled children — are feeling the same way I am right now. Like, what are we supposed to do?" Luoni said.
"How do you trade somebody's life over overtime?"
The Congressional Budget Office estimates the Medicaid cuts could leave nearly 12 million Americans uninsured.
"It's going to kick over 1 million New Yorkers off their medical coverage," said Nancy Hagans, president of the New York State Nurses Association.
The legislation will eliminate federal taxes on tips and overtime pay, including for nurses like Hagans.
"How do you trade somebody's life over overtime?" she said. "We are being asked as health care workers to say, I would rather receive an extra 50 cents over somebody else's life."
One of the biggest changes will be strict work requirements for some Medicaid recipients. There are exceptions for poor parents of children under 14 years old.
Rep. Mike Lawler praises increased cap on SALT deductions
The 900-page bill boosts security and United States Immigration and Customs Enforcement, increases defense spending and extends Trump's 2017 tax cuts, which includes an increase in the child tax credit and raises the cap on state and local tax deductions.
"This will cover, in my district, 90 percent of my constitutions will be able to fully deduct their state and local taxes, and I live in one of the highest taxed districts in the country," Rep. Mike Lawler said.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
5 minutes ago
- Yahoo
Is IonQ a Millionaire-Maker Stock?
Key Points IonQ is taking a distinct approach to quantum computing compared to its peers. A massive market is expected to open up within the next decade for quantum computing. 10 stocks we like better than IonQ › IonQ (NYSE: IONQ) is one of the top competitors in the quantum computing race. It's a pure-play option that's solely focused on quantum computing supremacy, so if its approach fails, the stock is likely to head to zero. On the other hand, if it succeeds, there is major upside from today's levels that could generate substantial returns for investors. But can it turn a meager investment into $1 million? Let's take a look. IonQ uses a trapped ion approach for quantum computing IonQ has emerged as a top competitor in this space primarily due to its short-term success and its partnerships. Quantum computing isn't yet commercially relevant, and most funding comes from partnerships with various research institutions in the U.S. One of the top ones is the Air Force Research Laboratory, with which IonQ has a deep partnership. Money from various contracts is what enables IonQ to operate, and the approach it is taking differentiates it from the competition. IonQ employs a trapped-ion approach to perform quantum computing, rather than a superconducting approach. The vast majority of quantum computing competitors are taking the superconducting approach, including Rigetti Computing (NASDAQ: RGTI), IBM (NYSE: IBM), and Alphabet's Google. However, there are key advantages that the trapped-ion approach provides. Perhaps the most important is the temperature at which quantum computing is conducted. Superconducting requires the particle to be cooled down to near absolute zero temperatures, which is an expensive process. For quantum computing to become relevant, it also needs to be cost-effective, and this cost may be a significant hurdle for those in this field to overcome. Another advantage the trapped-ion approach has is qubit connectivity. It's well accepted that allowing qubits to interact with each other provides more accurate calculations, but superconducting only allows qubits to interact with their neighbors. The trapped ion approach enables all the qubits within the system to interact with one another, allowing IonQ to achieve 99.9% fidelity or better. IonQ's differentiated approach is a key reason why I believe it's a worthy investment in quantum computing, as it takes a distinct approach compared to others in this field. While this may ultimately be the wrong move, it's impossible to tell right now, so having investments in quantum computing companies that are tackling this problem in different ways is a smart idea. If IonQ's approach prevails, could it transform an investment into $1 million? IonQ could be a successful investment, but likely won't be a millionaire-maker I'll use a $10,000 initial investment as the baseline, which would require IonQ to return 100 times its initial investment. With IonQ's current $10.5 billion market cap, that would mean it would have to turn into a $1 trillion company. That's a massive return, and considering that there are only 11 companies that have ever achieved a $1 trillion market capitalization, this may be a bit far-fetched. As a result, I doubt that IonQ can provide 100x returns from this level. But it could still be a successful investment. IonQ believes that quantum computing could have an $87 billion market opportunity by 2035. Even if it can capture only 20% of that, it would be a hugely successful investment that provides shareholders excellent returns. However, investors also need to understand that an IonQ investment is far from a sure thing. It could fail and go to $0, which is why investors need to keep their position sizing fairly small -- no more than 1% of their total portfolio. That way, if it succeeds, it still has a significant effect, but if it fails, then it's not as big a deal. If you can keep that in mind, then IonQ may be a smart longshot pick for a portfolio. Should you buy stock in IonQ right now? Before you buy stock in IonQ, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and IonQ wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $652,133!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,056,790!* Now, it's worth noting Stock Advisor's total average return is 1,048% — a market-crushing outperformance compared to 180% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 15, 2025 Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Keithen Drury has positions in Alphabet. The Motley Fool has positions in and recommends Alphabet and International Business Machines. The Motley Fool has a disclosure policy. Is IonQ a Millionaire-Maker Stock? was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
35 minutes ago
- Yahoo
If Trump's Wealth Was Evenly Distributed Across America, How Much Money Would Every Person Get?
We hear numbers like 'billions' thrown around all the time, but what does that really mean for the average person? Let's break down what would happen if billionaire President Donald Trump split his entire net worth evenly among every American (and whether that could actually happen). Find Out: Read Next: What Is Donald Trump's Net Worth? Donald Trump is a real estate mogul turned reality TV star, turned president, turned…influencer? It's been quite a ride. Trump began his business career working for his father, Fred, who built affordable housing in Brooklyn and Queens. He later moved the business into Manhattan, building skyscrapers and casinos and eventually branding nearly everything from steaks to ties. As of June 2025, Trump's net worth is estimated at over $5 billion, according to Forbes. That figure includes: High-end real estate (commercial and residential) Golf resorts across the globe A winery A Boeing 757 known as 'Trump Force One' Stakes in companies like Trump Media & Technology Group (home of Truth Social) He's also made millions in recent years by selling NFTs, coffee-table books and shares in his social media company, despite it losing money. That said, a New York judge ordered him to pay $454 million in 2024 for allegedly inflating his assets to look more creditworthy. Trump appealed the ruling and is awaiting a final decision to be made. But until then, his net worth remains hovering above $5 billion. Discover More: How Much Would You Get? Now for the fun part. If Trump's $5.4 (or so) billion was evenly distributed among all 347,181,484 people in the U.S., every person would get $15.55. What Can $15.55 Buy You in 2025? In today's dollars, here's what you could spend your Trump dividend on: Three gallons of gas (maybe) One month of a streaming service (until you forget to cancel) A fast-food combo meal…with extra fries A high-quality phone charger 0.00016 shares of Nvidia A movie ticket So while $15.55 isn't quite yacht money, it's still a tangible amount of money for something many Americans could use. Could This Actually Happen? Not really. Most of Trump's fortune isn't sitting in a checking account but rather tied up in real estate and business equity. Meaning to give away his billions, he'd have to liquidate assets, sell property and cash out of his companies. And that's no easy task since many of his holdings, like golf resorts and commercial buildings, aren't exactly quick or easy to sell. It would take time, come with massive tax implications and could tank the value of his holdings in the process. Large-scale asset sales could trigger capital gains taxes in the hundreds of millions, depending on how long he's held each property and what he originally paid. Worse, the sudden flood of properties or shares could depress market prices, causing his remaining wealth to drop even further (and hurting others invested in the same markets). Plus, there's no legal or logical reason he'd want to do this. U.S. law doesn't require billionaires to redistribute their wealth, and most don't unless compelled by court order (or extreme personal conviction). Final Thoughts No, Trump's not going to hand you $15.55 any time soon, but it's still fun to realize just how small a billionaire's fortune becomes when it's shared across a population of hundreds of millions. More From GOBankingRates 3 Luxury SUVs That Will Have Massive Price Drops in Summer 2025 5 Cities You Need To Consider If You're Retiring in 2025 The New Retirement Problem Boomers Are Facing This article originally appeared on If Trump's Wealth Was Evenly Distributed Across America, How Much Money Would Every Person Get?
Yahoo
an hour ago
- Yahoo
Epstein accuser claims she met Trump in disgraced financier's office in ‘troubling encounter'
One of Jeffrey Epstein's accusers claimed she met Donald Trump in the convicted pedophile's New York office in what was described as a 'troubling encounter,' according to a report. Artist Maria Farmer said she urged the FBI to look into people in the disgraced financier's social circle, including the president, after the alleged encounter in the 90s, she told The New York Times. Farmer and her younger sister Annie, who testified at Ghislaine Maxwell's 2021 sex trafficking trial, have spoken publicly about their ordeal with Epstein before. But her account now sheds light on how the Epstein files could contain material that is 'embarrassing or politically problematic' to the president, the Times reports. Farmer's account is among 'the clearest indications yet' of how Trump may appear in the Epstein files, the Times notes, though the White House disputed the alleged encounter. 'The president was never in [Epstein's] office,' said White House communications director Steven Cheung. 'The fact is that the president kicked him out of his club for being a creep.' It follows a turbulent few weeks for the Trump administration after MAGA outrage over the Epstein files boiled over last week. Despite campaigning on a promise to release the files, Trump's Justice Department announced in July that no further evidence in the case would be released, unleashing turmoil among the president's MAGA supporter base. Artist Maria Farmer said she urged the FBI to look into people in Jeffrey Epstein's social circle, including Donald Trump, after the alleged encounter in the 90s. (NBC News) The president last week agreed to release select grand jury testimony of the case, which experts say is unlikely to produce much, if anything, to satisfy the public's appetite for new information about Epstein's crimes. Epstein died by suicide in a New York jail awaiting a sex trafficking trial in August 2019. Farmer was in her mid-twenties when she claimed she met Trump in 1995, shortly after Epstein hired her to do artwork. One night, she received an unexpected call from Epstein, who requested she come by his offices in Manhattan. According to Farmer's account to the Times, Trump was there and 'started to hover over her.' Farmer said that 'she recalled feeling scared as Mr. Trump stared at her bare legs,' the newspaper reported. 'Then Mr. Epstein entered the room, and she recalled him saying to Mr. Trump: 'No, no. She's not here for you.'' Epstein and Trump then left the room, according to Farmer, and she claimed she heard Trump comment that he thought she was 16 years old. The White House disputed Farmer's account. After the encounter, Farmer said she had no other 'alarming' interactions with Trump, nor did she witness him engage in inappropriate conduct with any other girls or women. Farmer filed a lawsuit at the end of May alleging that the federal government failed to protect her and other victims of the convicted pedophile and his madam, Ghislaine Maxwell. Maria Farmer and her sister Annie were both sexually assaulted by Epstein and Maxwell in the 90s. Annie Farmer testified at Maxwell's 2021 sex trafficking trial. (US District Court for the Southe) Farmer told the Times that she has long wondered how her complaints about Epstein between 1996 and 2006 were handled by law enforcement agencies. She told the newspaper that she raised Trump's name with authorities on two occasions because of the alleged encounter and 'because he seemed so close' to Epstein. Trump has never been accused of any wrongdoing in the Epstein case. Farmer, who did not testify at Maxwell's trial, was sexually assaulted by Epstein and his madam at his Ohio estate in 1996. Farmer later learned that her younger sister Annie, then 16, was molested by Maxwell and Epstein at his New Mexico ranch that same year. When Farmer discovered her sister had also been assaulted by Epstein and Maxwell, she reported the sex offender to the FBI. 'There is certainly more to know,' Annie Farmer told The Independent in an interview last year. 'I don't know whether we will ever learn more about that but I don't think we know everything.' The president has sought to distance himself from the sex offender, with whom he had a friendship from the late 80s until the early 2000s. Last week, the Wall Street Journal published the text of a note that was allegedly penned by Trump to Epstein as part of a 50th birthday card. The note itself was framed with the silhouette of a naked woman, with the contents alluding to a 'secret' that Trump wrote the two men shared.