It’s July 4th—a day for fireworks and freedom—but this year, we’re confronting a very different kind of spark. In this special holiday episode, Farnoosh breaks down the controversial “Big Beautiful Bill,” passed by the House. The sweeping legislation includes massive tax cuts for the wealthy and deep spending cuts to public services like health care and education. Farnoosh explains who stands to gain—and who could lose access to critical benefits, from Medicaid to special education funding.

Then, it’s time for the mailbag! Farnoosh answers your money questions, including:

• With markets at record highs and a rate cut on the horizon, where should you put your money? (Hint: It depends on your timeline—rainy-day fund, short-term goals, or retirement.)
• How to tackle credit cards with high balances, even in a rising interest rate environment.
• What are medical billing advocates—and how can they help you lower your health care bills?