The Price of HR1, The Harmful Federal Megabill: How It’s Costing North Carolina Families

HR1, called the “One Big Beautiful Bill” — passed into law by Congress and signed by President Trump this summer — will raise costs for families across North Carolina in a number of ways.

Here are just THREE INCREASED COSTS for North Carolinians as a result of this bill. 

• $220 per year in electricity costs for NC households by 2030 because of renewable energy cuts.
• $1,400 per year in food costs for about 160,000 NC families who will lose food assistance because of cuts to SNAP, also known as food stamps.
• $3,000 per year in health care premiums for a family of four because of the failure to extend tax credits for insurance coverage through the Affordable Care Act marketplace

Why? Lawmakers wanted to extend tax cuts for the very wealthy. While costs go up for the vast majority of North Carolinians, the top 1 percent will get an average tax break of more than $61,000 annually.