Senate GOP Finance Committee Pushes Forward Massive Cuts to Medicaid and SNAP Funding to Fund Tax Cuts for Billionaires

Today, Senate Republicans on the Finance Committee released the text of their reconciliation bill’s tax portion. The bill would give massive tax breaks to billionaires and make permanent huge tax breaks to large corporations. While they claim their version “improves” upon the House bill, they would fund these tax cuts through deep reductions to essential programs like Medicaid and children’s nutrition assistance.

“The Senate GOP had no intention of addressing the devastating and politically toxic cuts in the House bill. Make no mistake—in broad daylight, they are pushing through a bill that hands out massive tax giveaways to their billionaire and corporate donors at the expense of the communities they were elected to represent.” said David Kass, ATF Executive Director. “This bill makes massive cuts to critical life-sustaining programs like Medicaid and SNAP that will drive up healthcare and food prices for millions of workers and families, while billionaires pocket the money and the national debt soars. The vast majority of Americans and future generations should not be made to pay for the greed of billionaire elites and their political allies.”