Summary
House Republicans have proposed a new bill that aims to cut the federal deficit by over $1 trillion. The proposal includes plans to make homeownership easier, lower drug prices, and reduce government spending. The bill also seeks to make some of President Trump's policies permanent.
Key Facts
- The bill is designed to cut the federal deficit by more than $1 trillion.
- It covers increasing access to homeownership and lowering drug prices.
- The plan aims to stop future administrations from reversing Trump's policies.
- The U.S. government reported a $145 billion budget deficit in December.
- The proposal includes repealing the federal death tax and removing capital gains tax for certain home sales.
- Noncitizens would lose access to Medicaid and food assistance programs under the new plan.
- The "Don" Payment Program offers low down payment options for creditworthy homebuyers.
- Tax penalties would apply to foreign nationals buying U.S. real estate for investment purposes.
