Elizabeth Warren Says Trump's 'One Big Beautiful Bill' Will 'Rip Away' Health Coverage From 16 million Americans — Just So Jeff Bezos Can Buy A Third Yacht - Meta Platforms (NASDAQ:META), Amazon.com (NASDAQ:AMZN)

On Wednesday, Senator Elizabeth Warren (D-Mass.) sharply criticized President Donald Trump’s “One Big Beautiful Bill Act,” warning that it could strip health coverage from millions of Americans and add $2.4 trillion to the national debt.

What Happened: Taking to social media, Warren condemned the bill, stating that it would “rip away health care from 16 million Americans” and disproportionately benefit billionaires like Amazon.com, Inc. AMZN founder Jeff Bezos and Meta Platforms, Inc. META CEO Mark Zuckerberg.

Warren was referring to the Congressional Budget Office's estimates that these changes would result in 16 million people losing health coverage by 2034.

“The bill will rip health care away from millions of mamas and babies, all so that Jeff Bezos can buy a third yacht, all so that Mark Zuckerberg can buy another Hawaiian island. It is a gut punch to regular people just so that billionaires can get even richer,” she stated.

Why It’s Important: The bill, which passed the House in May, includes provisions that would cut Medicaid eligibility for millions, impose new work requirements and make health insurance more expensive for many low-income Americans, reported CBS.

The bill, pushed by Republicans, has been described by critics as a stealth repeal of the Affordable Care Act, with provisions that would reduce Medicaid expansion and impose stricter requirements on ACA marketplace enrollees.

Supporters argue that the bill aims to reduce waste in government programs, but opponents contend it undermines the gains made under the ACA, the report noted.

Earlier on Tuesday, Tesla Inc. TSLA CEO Elon Musk slammed what he called a "massive, outrageous, pork-filled" spending bill, labeling it a "disgusting abomination." Warren said Musk's description of the bill was "spot on."

Musk, the world's richest individual with a net worth of $368 billion, faced criticism over a possible conflict of interest after he assumed the role of head of the Department of Government Efficiency (DOGE). The billionaire exited the role last month.

Meanwhile, Bezos and Mark Zuckerberg's Meta have each donated $1 million to Trump's Jan. 20 inauguration. Despite prior criticism from Trump toward the Washington Post and for censoring right-wing voices, both billionaires now appear to be working toward being in the good books of the President.

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