Tax Bill & Political Landscape - Republicans are pushing a tax bill considered President Trump's signature domestic priority [1] - The bill includes unpopular measures like Medicaid and food stamp cuts, raising concerns among Democrats and some Republicans about midterm election repercussions [2][3] - Public opinion is reportedly 2 to 1 against the bill [1][15] - The Wall Street Journal suggests the bill could hand the next election to the Democrats [15] Deficit & Debt - The Senate version of the bill is estimated to add $3.3 trillion to the debt [4][5][6] - The House bill was estimated to add $2.4 trillion to the debt over the next 10 years [5] - Some Republicans argue economic growth will offset tax revenue losses, while others remain concerned about the deficit [6][7] Republican Concerns & Divisions - Some Republicans worry about the impact of Medicaid cuts on the 2026 elections, drawing comparisons to the 2014 Obamacare backlash [18][19] - Senators like Lisa Murkowski raised concerns, particularly regarding provisions affecting Medicaid payments to Alaska and Hawaii [8][9] - The bill includes a provision that could impose additional taxes on US-based solar and wind companies using products from China, impacting energy-producing states [12][13][14] Energy Policy - The House version of the bill aims to phase out federal subsidies for solar and wind energy, established under the Inflation Reduction Act [11] - Lisa Murkowski is attempting to add a provision related to solar and wind energy [10] - Approximately 80% of the solar industry's components originate from China [14]
‘Make or break issue’ for some republicans: Journalist on deficit increase
MSNBC·2025-06-30 21:30