- The Republican majorities in the House and Senate are working to enact a massive budget and tax bill to advance the Trump administration’s pro-billionaire, anti-family agenda.
- The budget plan that Republican leaders are proposing would cut vital programs that families rely on, including Medicaid, food assistance (SNAP, formerly known as food stamps), caregiving support (TANF, Head Start, and SSBG) and student loan assistance, in order to pay for new tax breaks for billionaires and mega-corporations.
- To make this wildly unpopular bill more palatable, Republican policymakers are floating the possibility of including a few tax provisions – like minor tweaks to the Child Tax Credit, tax credits for caregivers, or eliminating taxes on tips, overtime pay or Social Security benefits.
- Don’t be fooled. Even if the final bill includes these or other tax measures that may help some families, the overall bill still would prioritize the wealthiest at the expense of struggling families. In fact, the proposals being raised by Republican leaders in Congress:
- Do little to offset the deep cuts this bill would make to Medicaid, nutrition assistance, and other essential programs that millions of families depend on.
- Fail to provide the economic relief that families need to pay for groceries, gas, housing, or utilities.
- Increase interest rates on everyone and further drive up the deficit.
- Ignore the inflation and steep increases in costs to everyday goods most families will see as a result of the President’s tariff policies , which will likely wipe out any boost families get from expected tax benefits.
- And pale in comparison to the trillions of dollars in new tax cuts for billionaires and big corporations, including possibly billions to Elon Musk and Donald Trump personally.
- In short, the Republican budget bill will result in increased prices and reduced supports for families and could increase the deficit by up to roughly $6 trillion. Proposals that try to make this bill more palatable do not make up for the harms caused by the overall budget and tax bill.
- The Republicans’ budget exposes their true priorities. By waving the possibility of tax benefits in our direction, they hope to distract us from the real cost of their disastrous tax plan. We deserve better.
- If Republicans really want to help families, they would pass a budget that raises taxes on top earners and big corporations, which would make our tax code fairer and lead to more meaningful investments in women, families, and our communities as a whole.
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