A New York Times report reveals how the Trump Administration has implemented tax benefits for the ultra-rich and large corporations; All this, while millions of people who depend on the US government’s food assistance program were left in uncertainty, since financing will no longer be provided.
Mexico City/Los Angeles, November 8 (SinEmbargo/LaOpinión).- While the President Donald Trump hails his “One Big Beautiful Bill Act” as a triumph for the American economy, a revealing report from the New York Times exposes how his Administration is secretly deploying hundreds of billions of dollars in tax benefits for the ultra-rich and large corporations, while leaving millions of poor people who benefited from the government without food. food assistance program (SNAP).
As revealed by the Times In an article signed by the investigative journalist Jesse Drucker and with research by Kitty Bennett, the measures, promoted by the Department of the Treasury and the Internal Revenue Service (IRS)undermine a key law of the era Biden and could worsen the federal deficit in billions of dollarsall without going through the scrutiny of the Congress.
The American media details how the Trump Administration has issued notifications and regulations since the summer of 2025 that weaken the “corporate alternative minimum tax” (CAMT), a provision included in the Inflation Reduction Act of 2022. This rule forces companies with average annual profits greater than $1 billion and an effective tax rate of less than 15 percent to pay additional taxes. However, the new rules have slashed CAMT’s projected revenues, from $222 billion over a decade to a negligible fraction, benefiting a handful of corporate giants.
Concrete examples of “fiscal gifts” to the powerful
The NYT report highlights several emblematic cases of these cuts, which allow companies to maintain “two accounting books”: one to impress investors with million-dollar profits and another for the IRS, reduced with deductions that evade the 21 percent standard corporate rate.
Trump gave the 1% a trillion in tax breaks. Now he’s working overtime to block SNAP benefits for 42 million Americans who rely on them.
Tax breaks for billionaires. Cuts for hungry kids.
We must stand up to Trumpism and build a government that works for all — not just the few. pic.twitter.com/Zw8kVZuvMv
— Bernie Sanders (@BernieSanders) November 8, 2025
Cryptocurrency companies: The IRS granted exemptions for “mark to market” gains on unsold digital assets, a relief pushed by advisors such as Michael Desmond (former IRS chief counsel in the first Trump administration) and Eugene Scalia (former Secretary of Labor). Firms like Coinbase and MicroStrategy – the latter now declaring that it “no longer expects to submit” to CAMT, avoiding billions in fines – are the big winners.
Private equity firms: Flexible regulations adopted almost entirely from proposals by industry giant Blackstone allow for tailored tax calculations, saving billions in liabilities.
Energy and real estate companies: Natural gas exporter Cheniere Energy revealed a $380 million refund for CAMT already paid, thanks to a recent Treasury notification. Additionally, relief was granted to foreign investors in U.S. real estate in October 2025, and rules preventing duplicate loss claims at multinationals were withdrawn in August.
Other Industries: Insurers can now use past tax losses to reduce CAMT bills, even retroactively. Companies including Occidental Petroleum, AT&T, Microsoft, Amazon and Johnson & Johnson are benefiting from the rollback of a plan against aggressive tax shelters, estimated at at least $100 billion in additional cuts.
These changes are in addition to the July 2025 law signed by Trump, which offers more than $4 trillion in overall tax reductions – including relief for regular income taxes, but not the CAMT – while cutting social programs such as Medicaid for the elderly and food stamps, adding trillions to the federal deficit according to Congressional Budget Office (CBO) estimates.
Millions of poor people are left without food aid
As the Trump Administration accelerates cuts to the richest, millions of Americans were left in limbo after the US Supreme Court on Friday granted the emergency request presented by President Donald Trump’s administration to temporarily suspend an appeals court order that forced his Administration to fully fund the food assistance program (SNAP) during the government shutdown.
Judge Ketanji Brown Jackson, in charge of reviewing emergency appeals from the Supreme Court in Washington, issued an “administrative stay,” which stops, for now, compliance with the order issued by a lower court in Rhode Island, which required transferring four billion dollars to guarantee full food aid payments for more than 40 million Americans during the month of November.
The temporary decision grants additional time to the Court of Appeals to study the case, which pits the federal government against food access advocacy groups.
The measure leaves in uncertainty some 40 million beneficiaries who depend on the program to cover their basic needs.
The Department of Agriculture had previously reported that, while the court dispute continued, it would use contingency funds to offer partial payments to households enrolled in SNAP.
Later on Friday, the Department of Agriculture assured that full SNAP benefits for the month of November would be paid, while a Court of Appeals ruling upheld a lower court’s ruling ordering this to be done.
The case has become one of the main legal fronts of the current government shutdown, the longest in the country’s history, which has affected the financing of several social programs and the normal work of many federal agencies.
The direct suspension of the distribution of food aid comes after the Trump government, through the Department of Justice, went to the Supreme Court with an emergency request, to reverse the previous court order, under the criterion that they cannot execute funds while Congress has not allocated them.