Republicans' Tax Plan Estimated to Cost $5 Trillion | Drudge Retort

Monday, May 12, 2025

Republicans' Tax Plan Estimated to Cost $5 Trillion

The cost far exceeds what is permitted by the budget resolution Republicans adopted earlier this year, which set the parameters for the massive package of tax cuts and extensions, energy policy and border security investments the party wants to pass in the coming weeks.

Posted by Corky at 06:30 PM | 11 COMMENTS | permalink

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House Republicans just unveiled the heart of their long-awaited tax package. It would be the most consequential tax bill to pass Congress in years.

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-- Politico (@politico.com) May 12, 2025 at 3:25 PM

Comments

Damn! I hope that Herr Musk and his doggy Doge left enough kids, poor women, elderly, and sick people alive for the GOP to kill off for tax cuts for billionaires.

Almost funny that this was the best they could do even with their own people doing the numbers.

The Congressional Clown Car just got a lot less funny.

#1 | Posted by Corky at 2025-05-11 01:44 PM

DEATH TO Billionaires

#2 | Posted by LegallyYourDead at 2025-05-11 05:54 PM

Related ...

Congressional Republicans Are Planning One of the Largest-Ever Cuts to Basic Supports for Children
www.americanprogress.org

... As Republicans on various House of Representatives committees write new legislative text to enact massive tax giveaways for the wealthiest Americans, architects of the plan have aligned behind sweeping budget cuts that would harm the most vulnerable people in our country: America's kids. Specifically, this potential legislation would enact a slew of policies that cut basic needs supports for families with children by slashing funding for food assistance, health care, and even programs that support foster care.

At a time when rising prices are straining families' budgets, it's the worst moment for Congress to make these historic cuts. The portions of Supplemental Nutrition Assistance Program (SNAP) and Medicaid cuts that likely affect kids, plus the elimination and gutting of federal dollars passed to states to support families, would add up to one of the largest-ever cuts to programs that support children. ...

#3 | Posted by LampLighter at 2025-05-12 07:26 PM

USA = a few rich and spending 1 trillion on weapons.

#4 | Posted by Brennnn at 2025-05-13 12:54 AM

#4: USA = a few rich and spending 1 trillion on weapons.

...and not on universal health care, affordable housing, or college tuition.

#5 | Posted by C0RI0LANUS at 2025-05-13 01:22 AM

They're now aiming for $4 trillion in total tax cuts, along with $1.5 trillion in spending reductions.

So borrowing $2.5 TRILLION to give to billionaires and paid for by cutting health care and food subsidies for the poorest people in the nation.

#6 | Posted by Nixon at 2025-05-13 07:59 AM

"However, more than two-thirds of the plan's tax cuts would go to those making about $217,000 or more, the highest-income 20% of households. The top 1%, those making more than $1.1 million, would get nearly one-quarter of the tax cuts.

The lowest-income households would see an average tax cut of about $120, or 0.6% of their after-tax income. Middle-income households would see their taxes fall by about 1.7% of after-tax income, or about $1,300 on average. In contrast, the top 1% would get an average tax cut of more than $100,000, or nearly 5% of their after-tax income."

#7 | Posted by Nixon at 2025-05-13 08:03 AM

So keeping the tax cuts that were in place during Biden's "tremendous economy" are now a disaster?
When the cuts were enacted tax revenues rose.

#8 | Posted by fishpaw at 2025-05-13 11:04 AM

When the cuts were enacted tax revenues rose.

#8 | POSTED BY FISHPAW

Liar.

Did they? And did it offset the fiscal losses? No. Trickle down only benefits the wealthy and I am told is fun in Russian hotels but does not apply to our governments financial reality.

The government's fiscal picture has worsened since the passage of the 2017 tax cuts.

Prove me wrong. Show your receipts.

#9 | Posted by donnerboy at 2025-05-13 12:37 PM

When the cuts were enacted tax revenues rose.
#8 | POSTED BY FISHPAW

^
Receipts We Will Never See.

Meanwhile, back in reality:
The Trump Tax Cuts Led to Record-Low, Not High, Revenues Outside of a Recession
www.americanprogress.org

#10 | Posted by snoofy at 2025-05-13 02:18 PM

And it will cost many lives of the poorest and the most lost in America, as they find their safety net gone and no bottom to the fall.

#11 | Posted by Hughmass at 2025-05-14 07:20 AM

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