Trump Tax Blueprint Released: Medicaid Cuts and Corporate Tax Cuts Featured

Trump Tax Blueprint: Tax Cuts and Medicaid Reform

Senate Finance Committee Chair Mike Crapo (R-Idaho) has released the long-anticipated Trump Tax Blueprint that proposes significant changes to the tax landscape. This blueprint aims to make the 2017 corporate tax cuts permanent while proposing substantial reductions in Medicaid spending and phasing out Biden-era renewable-energy tax incentives.

Core Provisions of the Blueprint

• Permanent corporate tax cuts established in 2017.
• Reduction of over $860 billion in Medicaid spending over ten years.
• Phase-out of renewable-energy tax incentives.

Contentious Medicaid Changes

The proposed legislation introduces stricter eligibility requirements for Medicaid and looks to cut the federal funding share of Medicaid within states. This move is expected to deepen the rift between Senate and House Republicans, particularly among those expressing concerns about the funding cuts.

The Congressional Budget Office (CBO) projects that these measures could lead to over 10 million more Americans being uninsured within the next decade.

Legislative Outlook and Implications

The Senate’s proposed changes are expected to pose challenges for House members who have already passed similar, yet different, Medicaid proposals. The Senate leadership is urged to collaborate with the House to ensure the integrity of tax relief commitments.