Senator Elizabeth Warren has accused Republicans of planning major tax breaks for the wealthiest Americans while potentially stripping healthcare from 14 million people.
Elizabeth Warren's Accusations
Senator Elizabeth Warren accused Republicans of wanting to pass "huge tax giveaways" for the wealthiest Americans while taking away healthcare from 14 million citizens. This statement comes amid the development of a legislative proposal that House Republicans have discussed and are beginning to push forward. The legislation was approved by a vote of 26 to 19.
Contents of the Tax Bill
The bill extends tax cuts from Trump's first term, set to expire at the end of the year. It also adds new tax breaks for workers, retirees, and private schools. However, to lower costs, the package would eliminate green energy projects put in place by Democratic President Joe Biden. Meanwhile, another committee is discussing a plan to tighten eligibility for Medicaid that affects 71 million low-income Americans.
Fights Over SALT Deductions
As part of President Trump's tax and spending plan, House Republicans want to raise the limit on the state and local taxes (SALT) deduction. The House Ways and Means Committee publicly released the full text of its part of the bill on Monday. Under the 2017 act, the SALT deduction is capped at $10,000, which could expire in 2025 if Congress does not act.
Discussions surrounding the tax bill continue, and many lawmakers are under pressure from voters and economists. Questions about whether this bill will impact the federal deficit and meet urgent requirements remain key points in ongoing discussions.
