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Septua

(2,831 posts)
4. I found a NYT article relative to the bill.
Thu Jul 3, 2025, 10:14 PM
Jul 3

I trust NYT far more than Trump.

I've been trying to find some definitive timelines on the cuts:

https://www.nytimes.com/2025/07/02/us/politics/tax-cuts-benefit-cuts.html

Americans who comprise the bottom fifth of all earners would see their annual after-tax incomes fall on average by 2.3 percent within the next decade, while those at the top would see about a 2.3 percent boost...On average, that translates to about $560 in losses for someone who reports little to no income by 2034, and more than $118,000 in gains for someone making over $3 million, the report found.


The disparity owes largely to the fact that Republicans aim to pay for their tax cuts by slashing programs for the poor, including Medicaid and food stamps. The cuts amount to one of the largest retrenchments in the federal safety net in a generation. But the savings they generate only offset a fraction of the total cost of the bill, which is expected to add more than $3 trillion to the federal debt by 2034.


The changes to Medicaid financing are parceled out over time. They target so-called provider taxes, a complex funding arrangement that allows most states to collect federal funding to support their Medicaid programs. The most significant cuts in the bill would apply to only a subset of states, and would phase in starting in 2028.

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