The New York Times has written an outline of Republican plans for a major budget reconciliation package and what it suggests seems to involve slashing money for programs that benefit low-income Americans to fund tax cuts for the wealthy and corporations.
Among other things, the Times reports that the GOP is eyeing work requirements to Medicaid that would cause an estimated 600,000 people to lose their health coverage; slashing the portion of Medicaid paid out by the federal government, thus putting an increased burden on states to fund the program; taxes on people whose offices offer free gyms; taxing all scholarship and fellowship income; ending the home mortgage tax deduction; and slapping a ten percent tariff on all imported goods, which would raise costs on consumers.
In addition to all that, Republicans are considering completely repealing clean energy tax credits that were part of the Inflation Reduction Act signed by former President Joe Biden in 2022.
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However, these plans have run into some opposition from many Republicans whose districts have benefited from the investments made in the IRA.
In fact, a group of 18 Republicans wrote Speaker Mike Johnson (R-LA) to warn that "a full repeal would create a worst-case scenario where we would have spent billions of taxpayer dollars and received next to nothing in return."
Republicans currently have a very narrow majority in the House of Representatives, meaning that passing any kind of bill will be very tricky presuming House Democrats remain united in opposition.
