Politics and Government Politics and Government
Sun, December 1, 2024
[ 12:01 PM ] - Brian Stokes
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How Trump's Tax Cuts Might Impact Medicaid and Food Stamps in 2025

How Trump's Tax Cuts Might Impact Medicaid and Food Stamps in 2025


Published on 2024-12-01 08:30:47 - Brian Stokes, N@N
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  • In 2017, then-President Donald Trump championed a successful tax bill that lowered taxes for a large majority of American taxpayers. Many of the provisions of the tax bill are set to expire in 2025, and the now President-elect Trump spent a large part of his 2024 to retake the presidency by promising to extend the 2017 tax bill and prevent those expirations.

The article from MSN discusses the potential impacts of the Tax Cuts and Jobs Act (TCJA) of 2017, signed into law by former President Donald Trump, on federal spending, particularly concerning Medicaid and food stamps (SNAP) as its provisions are set to expire in 2025. The TCJA reduced tax rates for individuals and corporations, which led to a significant decrease in federal revenue. This reduction could necessitate budget cuts or changes in spending priorities, potentially affecting entitlement programs like Medicaid and SNAP. Analysts suggest that without an extension or modification of the tax cuts, the government might face pressure to reduce spending on these programs to manage the deficit. The article highlights concerns from policy experts about the sustainability of these tax cuts and their long-term effects on social safety nets, especially if economic conditions change or if there's a push for fiscal responsibility. It also notes that any decision on extending or altering the tax cuts will be politically charged, influencing the future of these crucial welfare programs.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/politics/government/how-trump-s-tax-cuts-might-impact-medicaid-and-food-stamps-in-2025/ar-AA1v43Wr ]
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