StmarysCity79
Well-Known Member
The tax cuts are a mix of high-end and corporate benefits, mostly by extension of the 2017 Trump tax cuts, and some crowd-pleasers from the 2024 campaign trail, like elimination of taxes on tips and overtime pay, and a boost in the standard deduction for seniors. Overall, in a CBO estimate you will hear much about from Democrats, the bill would “lead to the bottom 10 percent of Americans seeing their household resources reduced by 4 percent — largely through cuts to federal spending on Medicaid and food aid — while the top 10 percent would see an increase in their resources by 2 percent.” But the number that could also come back to haunt Republicans if only because of the effect on financial markets is the estimated boost in the national debt by $3.8 trillion.
The legislative package includes measures that would deeply cut into two of the nation’s key safety net programs – Medicaid and food stamps
A new Medicaid “work requirement,” which will now be implemented by the states two years earlier, will wind up killing health insurance for at least 7 million people, according to an estimate from the nonpartisan Congressional Budget Office; another 8 million are at risk thanks to elimination of certain Obamacare private health-insurance subsidies. Cuts in federal payments for the SNAP (food stamps) program would likely cost 11 million people some or all of their existing benefits.
The legislative package includes measures that would deeply cut into two of the nation’s key safety net programs – Medicaid and food stamps
A new Medicaid “work requirement,” which will now be implemented by the states two years earlier, will wind up killing health insurance for at least 7 million people, according to an estimate from the nonpartisan Congressional Budget Office; another 8 million are at risk thanks to elimination of certain Obamacare private health-insurance subsidies. Cuts in federal payments for the SNAP (food stamps) program would likely cost 11 million people some or all of their existing benefits.
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