Post Aun8F0EEZ1C7h2HIeG by GenXotaku1971@urusai.social
 (DIR) More posts by GenXotaku1971@urusai.social
 (DIR) Post #Aun6saVdPJA7bKAI6q by Nonilex@masto.ai
       2025-06-04T15:38:17Z
       
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       The nonpartisan Congressional Budget Office [#CBO] said Wednesday that the broad Republican bill to cut taxes for corporations & the wealthy & slash federal programs would add $2.4 trillion to the already soaring #NationalDebt over the next decade, in an analysis that was all but certain to inflame concerns that #Trump’s domestic agenda would lead to excessive government borrowing.#USpol #economy #government https://www.nytimes.com/2025/06/04/us/politics/trump-policy-bill-deficit-estimate.html?smid=url-share
       
 (DIR) Post #Aun6vzeSNwakRmuoee by Nonilex@masto.ai
       2025-06-04T15:38:58Z
       
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       The #CBO analysis focused on the version of the bill that passed the #House late last month, but the cost estimate could change as #Republicans in the #Senate begin to put their imprint on the legislation. #GOP lawmakers there want to deepen some of the bill’s tax cuts, while others are pressing to pare back some its #cuts to #Medicaid, the government #healthcare program for the #poor, & #CleanEnergy tax incentives.#USpol #economy #government #NationalDebt #Trump
       
 (DIR) Post #Aun7996eXmP9XFNLFo by not2b@sfba.social
       2025-06-04T15:41:15Z
       
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       @Nonilex Now my worry is that the GOP will respond to this and to Musk's objections by keeping the tax cuts but gutting benefits even more, to make the deficit numbers look better, and cooking the analysis to pretend that deep IRS cuts won't affect tax receipts.
       
 (DIR) Post #Aun7P4OroEQrZYUKAq by Nonilex@masto.ai
       2025-06-04T15:44:13Z
       
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       The #legislation was expected to add significantly to the #debt, given the enormous cost of extending the #TaxCuts for corporations & the rich that #Republicans put into place in 2017, the central pillar of the bill. #FarRight lawmakers demanded that the party use their total #control of Washington to also slash #spending & contain the cost of the legislation, but the #CBO’s estimate was a reminder that the party fell well short of covering the roughly $3.8 trillion cost of extending the cuts.
       
 (DIR) Post #Aun7u697Mr2dxruukC by Nonilex@masto.ai
       2025-06-04T15:49:49Z
       
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       In the #House version of the bill, #Republicans also turned to some well-worn gimmicks in a bid to lower the sticker price of the #legislation. Several of the bill’s tax cut provisions, including #Trump’s campaign pledges to not tax #tips & #overtime pay, would last for only a few years. Those cuts could become far more costly if they were continued.#NationalDebt #CBO #PublicDisservice #USpol #law #economy #government #SocialServices #education #Medicaid #healthcare #FoodAssistance
       
 (DIR) Post #Aun89nwMp7Zm8NRU5w by Nonilex@masto.ai
       2025-06-04T15:52:40Z
       
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       To defend their #legislation, some #Republicans & White House aides have taken to attacking the #CBO as politically motivated & unreliable [typical #Trump, shoot the messenger]. But several nonpartisan independent groups that have analyzed the bill have also concluded that it would add significantly to the federal #debt.#NationalDebt #PublicDisservice #USpol #law #economy #government #SocialServices #education #Medicaid #healthcare #FoodAssistance
       
 (DIR) Post #Aun8F0EEZ1C7h2HIeG by GenXotaku1971@urusai.social
       2025-06-04T15:53:32Z
       
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       @Nonilex The #GOP war on #truth and #observablereality continues unabated.
       
 (DIR) Post #Aun8VZMDiuoBHCugBE by Nonilex@masto.ai
       2025-06-04T15:56:34Z
       
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       The #Republican bill’s largest category of spending cuts is in #healthcare, where reductions to #Medicaid & the #AffordableCareAct [#ACA / #Obamacare] total roughly $1 trillion & will result in 10.3 million more Americans losing #HealthInsurance, according to new estimates from the #CBO.Last-minute changes to the bill, introduced just before it passed the #House, increased the size of cuts to those programs.#Trump #PublicDisservice #law #economy #government #SocialServices #health
       
 (DIR) Post #Aun8cU7rZZED4uUlrU by MylesRyden@social.vivaldi.net
       2025-06-04T15:57:46Z
       
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       @Nonilex Because if there is one thing Americans hate, it is healthcare.Good riddance to that crap. /snark