Summary
The U.S. Senate has passed a package of tax cuts that mainly benefits wealthier people and includes cuts to government health insurance and food programs for lower-income Americans. The Congressional Budget Office estimates this plan will increase the national deficit by $3.3 trillion over ten years and may result in nearly 12 million Americans losing health care coverage. The bill will go back to the House for approval.
Key Facts
- The U.S. Senate passed a tax cut package after more than 24 hours of discussion.
- The plan benefits wealthier Americans and includes cuts to programs for lower-income people.
- The Congressional Budget Office predicts the bill will increase the national deficit by $3.3 trillion over ten years.
- Nearly 12 million Americans could lose health insurance under this plan.
- The largest cuts affect Medicaid, the government health insurance for over 70 million lower-income people.
- The bill must return to the House for approval again since they passed a different version earlier.
- Some Republican senators initially objected to Medicaid cuts but eventually agreed to support the Senate version.
