GOP Pushes Tax Cuts and Spending Reductions Amid Debt Surge
The U.S. Congress advanced parts of President Trump's budget with Republicans approving tax cuts, increasing debt by trillions of dollars while cutting Medicaid. Despite party dissent, Republicans aim to pass the bill by Memorial Day. The proposal faces criticism for prioritizing tax cuts over health policy.
In a bold move, Republican lawmakers in the U.S. Congress have advanced key components of President Donald Trump's budget plan that promises massive tax cuts but threatens to significantly increase national debt. The House of Representatives' key committees, Ways and Means, and Energy and Commerce, have greenlit the legislation, bypassing staunch Democrat opposition.
This development marks a crucial win for the Republican party, although internal disagreements pose challenges. Moderates from Democratic-leaning states, citing insufficient state and local tax deductions, join hardliners demanding deeper spending cuts, complicating Speaker Mike Johnson's timeline to pass the bill by Memorial Day.
The legislation has sparked intense debate, focusing on proposed Medicaid spending cuts, which would impact 7.7 million Americans, and the potential defunding of Planned Parenthood. Critics argue that these measures prioritize financial savings over health needs, a claim that Republicans counter by emphasizing fiscal stability.
(With inputs from agencies.)
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