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On Thursday the House had passed a tax overhaul with a vote 219 to 206.The blueprint for a tax budget plan will overhaul the tax code which hasn't been done since Reagan was president(New York Times). As of right now the President and the Republican in Congress need to discuss the contents of the new reform.
This tax overhaul would allow for the approval of a tax bill with only 51 votes instead of the 60 votes that would usually be needed in the Senate. According to the Chicago Tribune this bill includes a 5 trillion dollar in spending cut, and a promise to cut Medicaid by about 1 trillion dollars over ten years. The Republican party is saying that this reform will increase economic growth by about 3 percent and will add new tax revenues.
As of right now there are huge debates between Democrats and Republicans. Bernie has been quoted saying "In order to pay for these huge tax breaks for millionaires and billionaires, this Republican budget makes savage cuts to the life and death programs that mean so much to ordinary Americans". Democrats argue that in order to fund for the tax cuts for the wealthy, the new tax reform will cut funding for programs such as Medicare. Republicans such as Diane Black is hugely supportive of this new tax reforming saying "through reconciliation, our budget specifically paves the way for pro-growth tax reform that will reduce taxes for middle-class Americans and free up American businesses to grow and hire,". Many Republicans consider these tax cuts as necessary because the national debt continues to grow and without cuts in spending it would be hard to cut the deficit. What are your thoughts?
3 comments:
I'm on the fence about this issue; on one side we like health programs like medicare, however, on the other hand those kinds nationwide programs come at a huge cost and in result, massive debt. No matter what congress does, they won't be able to make everyone happy, and that's just the nature of human beings because everyone has different opinions and beliefs. However, I feel like there is potential for a compromise between the Democrats and Republicans on this issue; if both parties can come together and construct a plan to keep health care programs like medicare, but at the same time gradually cut down spending, then I think both sides will get what they want. I see why Republicans want to cut spending on health care programs to cut national debt, but I think they should take a longer term approach to this matter because some people won't be happy about the massive cut of spendings on health care programs.
I understand where Jason is coming from, and in furthering the divided thoughts I'd like to mention that there are countries like Germany and England that are able to provide substantial aid in forms of health care, dental care, housing, etc. and that instead of huge cuts, there should be a solution. I feel like much that has been doesn't hasn't been preformed with proper support for what will be taken away, and although I can see where the republicans are coming from, I definitely am leaning towards the anger of those who will be affected by these major deductions.
Although I understand that the national debt is a severe issue and that the nation needs to work to cut it, I don't believe cutting off health care funding is the right solution. If this money is cut, a lot of people throughout the nation who rely on this type of health care will suffer. Instead I believe the US should try to find another way to lower the debt while at the same time maintaining this health care funding, as it is essential for the lives of many present-day Americans.
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