GOP Budget: A Tax Jackpot for the Wealthy, a Disaster for Working Families

GOP Budget: A Tax Jackpot for the Wealthy, a Disaster for Working Families

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Washington, D.C. – The latest House Republican budget proposal, released on February 12, 2025, has sparked fierce debate over its sweeping tax cuts for the wealthy and deep reductions in Medicaid, food assistance, and education funding. The plan, introduced by House Budget Committee Chairman Jodey Arrington, has been labeled a “betrayal of working families” by experts at The Center on Budget and Policy Priorities (CBPP), who warn it could drive millions into financial hardship while inflating the national deficit.

The proposal directs congressional committees to slash $1.5 trillion from social programs over the next decade, with $880 billion in Medicaid cuts, $230 billion from SNAP, and $330 billion from student aid programs. According to CBPP, these measures are designed to offset the cost of extending the 2017 tax cuts, disproportionately benefiting the top 1% of earners.

CBPP President Sharon Parrott warned: “These aren’t just numbers—this budget means millions losing health care, higher food insecurity, and skyrocketing college costs, all to finance tax breaks for the wealthy.”

The impact of these cuts could be devastating:

  • 36 million people could lose Medicaid coverage, leaving many without access to critical care.
  • Over 40 million people could see reduced SNAP benefits, with millions losing food assistance.
  • Federal student loan borrowers could face higher education costs, putting college out of reach for many.

Beyond individual hardship, the budget could impose severe financial strain on state, local, and tribal governments, forcing them to absorb costs or cut essential services. Meanwhile, Republicans remain silent on renewing tax credits that help lower-income families afford health insurance, meaning millions could see their premiums rise or lose coverage altogether.

Despite campaign promises to protect struggling Americans, critics argue the GOP budget prioritizes corporate interests and the ultra-rich, further widening economic inequality. As Congress prepares for intense budget negotiations, the future of millions of families, students, and low-income individuals hangs in the balance.

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GOP Budget: A Tax Jackpot for the Wealthy, a Disaster for Working Families

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