Tax Cuts May Be on the Way as Senate Passes 2018 Budget

Tax Cuts May Be on the Way as Senate Passes 2018 Budget
Tax Cuts May Be on the Way as Senate Passes 2018 Budget

The Senate has voted through President Donald J. Trump’s budget blueprint for 2018, a plan that will raise the deficit by nearly $1.5 trillion to compensate for tax cuts over the next 10 years. The POTUS called the move a “first step toward delivering MASSIVE tax cuts for the American people,” congratulating Republican leaders on voting it through in the first place. Only one Republican leader, Rand Paul of Kentucky, opposed the changes, accusing the President of encouraging “too much spending.” Democratic leaders have called the budget “cruel” and incredibly damaging to America.
If the new budget passes the house, it will create a basis from which Republican leaders can introduce tax cuts by trimming the fat from Medicare and other social programs. The move mostly provides significant tax breaks for the wealthy and American corporations, something Trump believes will stimulate economic growth. The changes also include a passage opening the Arctic National Wildlife Refuge to oil drilling, giving America a new source of income to balance the budget.

  • The budget creates a $1.5 trillion deficit over 10 years
  • It includes multi-billion-dollar cuts to Medicare and Medicaid
  • It opens the Arctic National Wildlife Refuge to oil drilling
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  • Some leaders are calling the budget “cruel” to the middle class
  • The new budget allows Republicans to pass tax bills without Democratic input
  • The 2018 budget allows for military spending without additional requirements needed

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How do you feel about potentially lower taxes with cuts to Medicare and other social programs?

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