The bill proposes increasing the SALT deduction cap from $10,000 to $30,000 for individuals earning a modified adjusted gross income of $400,000 or less, costing an estimated $530 billion over a decade. While proponents argue it supports working-class Americans, critics label it a benefit for the wealthy. The proposed cuts to Medicaid could leave 8.6 million people uninsured. The legislation faces pushback within Congress, with certain Republicans opposing it unless further cuts are made, placing Speaker Mike Johnson's push for the bill in jeopardy.
The proposed increase in the SALT deduction cap could cost $530 billion over 10 years, benefitting primarily the wealthy rather than the working-class Americans it claims to support.
Critics slam the bill as a giveaway to billionaires, noting that cuts to Medicaid could leave 8.6 million without health insurance, raising concerns about access to essential services.
Five Republican members of the House Budget Committee expressed their opposition, insisting on deeper Medicaid cuts and a full repeal of Democratic green energy tax credits.
The bill remains a contentious issue in Congress, with fiscal conservatives asserting it doesn't sufficiently reduce Medicaid spending, while swing district Republicans worry over their constituents' health coverage.
Collection
[
|
...
]