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The Wall Street Publication > Blog > Politics > Here is the heinous approach Republicans plan to fund tax cuts for the wealthy
Politics

Here is the heinous approach Republicans plan to fund tax cuts for the wealthy

Editorial Board Published February 13, 2025
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Here is the heinous approach Republicans plan to fund tax cuts for the wealthy
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Home Republicans launched a price range proposal Wednesday outlining plans to pay for President Donald Trump’s tax cuts for the wealthy by forcing deep cuts to packages like meals stamps and Medicaid.

“This price range decision is a key step to begin the method in delivering President Trump’s America First agenda. With almost each Home Republican instantly engaged on this deliberative course of, this decision displays our collective dedication to enacting the President’s full agenda—not simply part of it,” Home Speaker Mike Johnson, Republican of Louisiana, posted on X

The price range blueprint requires $880 billion in cuts to Medicaid—this system that gives medical insurance to 72 million low-income People—over the following 10 years, which might require states to both give you the cash to fund it themselves or slash advantages for recipients.

The price range additionally requires $230 billion in cuts to meals stamps, which the Heart for American Progress says quantities to a 20% reduce to this system that helps feed 42 million People yearly. Many meals stamp recipients dwell in crimson states that Trump received by massive margins, reminiscent of West Virginia, Oklahoma, and Louisiana, which have a few of the highest populations of meals stamp recipients within the nation.


A protester holds an indication that reads, “Save our lives … don’t cut Medicaid.”

And in current days, Republicans and DOGE bro Elon Musk have steered that they’re coming for Social Safety, the favored social security internet program that gives an earnings for retirees. Politicians have traditionally prevented slicing Social Safety for worry of voter backlash.

All of those cuts could be used to pay for the $4.5 trillion renewal of Trump’s 2017 tax cuts, which overwhelmingly benefited the wealthiest tax payers. A Tax Coverage Heart evaluation discovered that the highest 1% of earners obtained a mean tax reduce of greater than $60,000 in 2025, whereas the underside 60% obtained a mean annual tax reduce of simply $500.

The Republicans’ price range says that their final objective is to cut back necessary spending by $2 trillion—this consists of Medicare, Social Safety, Medicaid, and veterans advantages. If they can not discover $2 trillion, the tax cuts “should be reduced by a commensurate amount to offset the difference,” in response to the price range.

Republicans plan to have a price range listening to on Thursday, with a objective of passing the price range by the top of the month, CNN reported.

Republicans have admitted that these sorts of cuts will likely be “painful” for People. In the end, making these sorts of cuts may very well be politically disastrous for the GOP.

A January ballot from the Democratic agency Hart Analysis discovered that 76% of voters have a positive view of Medicaid, and that 78% disapprove of main Medicaid cuts. It additionally discovered that 82% of voters disapprove of creating cuts to well being care packages with a purpose to pay for tax cuts.

Democrats instantly lambasted the Republican price range proposal.

“Senate Republicans’ partisan budget resolution would toss programs like SNAP and Medicaid into the woodchipper—all in service of passing tax giveaways for the wealthiest Americans,” Sen. Patty Murray of Washington wrote on X.

And Rep. Jim Clyburn of South Carolina shared related opposition to the GOP price range proposal in a publish on X. 

“They have one agenda — stealing from the poor and giving to the rich.”

Thanks to the Every day Kos neighborhood who continues to battle so exhausting with Every day Kos. Your reader assist means every thing. We’ll proceed to have you ever lined and maintain you knowledgeable, so please donate simply $3 to assist assist the work we do.

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