“House Republicans Eye Tax Cuts for Wealthy, Cuts for Single Mothers – Stay Informed with ProPublica”
House Republicans are considering a series of tax and spending cut options to pay for sweeping tax cuts promised by former President Donald Trump. Among the proposals are cuts to benefits for single mothers and poor people who rely on government health care.
The document circulated by House Republicans includes a menu of options, including cutting benefits for single mothers and poor people who rely on government health care. One proposal is to eliminate the federal estate tax, which charges a percentage of the value of a person’s fortune after they die. This tax only kicks in for estates worth more than around $14 million. The document also proposes slashing the top tax rate paid by corporations by almost a third.
To pay for new tax cuts, the proposal also includes potential cuts to Medicaid, the health care program for people with low incomes. The document suggests slashing reimbursements to the states, which could result in states having to raise new revenues or reduce Medicaid spending by eliminating coverage for some people or cutting rates paid to physicians, hospitals, and nursing homes.
Other proposals in the document include eliminating tax breaks for families with children, such as the child care expense tax credit and the “head of household” filing status. The elimination of these tax breaks could affect millions of Americans, particularly single parents and other adults caring for dependents on their own.
Democrats have criticized the proposals as benefiting the wealthy at the expense of the working class. A White House spokesperson did not respond to questions about the specifics in the document but emphasized that the President is working with Congress to prioritize unity and a good deal for Americans.
Some of the proposals in the document aim to fulfill Trump’s campaign promises geared toward the working class, such as eliminating income taxes on tips and ending taxes on overtime pay. However, these proposals have been criticized by tax experts as inefficient ways to provide relief for lower-paid workers.
Overall, the proposals in the document highlight the ongoing debate over tax policy and government spending, with Republicans aiming to fulfill campaign promises while Democrats raise concerns about the impact on working families. The negotiations and discussions around these proposals are ongoing, and it remains to be seen which ideas will be enacted into law.