Trumponomics Watch: Tax Cuts for the Rich Covered by Cuts to Medicaid, Food Stamps


“President-elect Donald Trump’s economic advisers and congressional Republicans have begun preliminary discussions about making significant changes to Medicaid, food stamps and other federal safety net programs to offset the enormous cost of extending Trump’s 2017 tax cuts next year,” the Washington Post reports.

“Among the options under discussion by GOP lawmakers and aides are new work requirements and spending caps for the programs.”

“However, concern is high among some Republicans about the political downsides of such cuts, which would affect programs that provide support for at least 70 million low-income Americans, and some people familiar with the talks stressed that discussions are preliminary.”

Trump Tax Cuts Could Add $4.6 Trillion to Deficit

$4.6 trillion

“The cost of extending the 2017 tax cuts for households, small businesses and the estates of wealthy individuals enacted under President Donald Trump has expanded to $4.6 trillion,” Bloomberg reports. “That puts a massive price tag on what is likely to be a top issue in Washington next year as lawmakers grapple with the future of Trump’s tax cuts, which are slated to expire at the end of 2025.”