Senate, Medicaid
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The Senate released the Medicaid portion of President Donald Trump’s “One Big, Beautiful Bill” this week, proposing steep cuts to the healthcare program amid pushback from moderate
The Senate version has two key provisions that would affect the wallets of seniors. Those planks could change even more.
The Senate would spare skilled nursing facilities from limits on state-level provider taxes that would hit other sectors hard under a massive new spending plan revealed late Monday.
Proposed changes have reportedly angered some House Representatives, and differing views on the legislation could make passing Trump's bill difficult.
The House-passed version of the bill would extend Trump's 2017 income tax cuts and implement new temporary tax breaks for tips and overtime. It would create new federally-seeded savings account for children and give seniors an additional tax credit. It would pour billions of dollars into the administration's deportation plans and on defense.
The report factors in expected debt service costs and finds that the bill would increase interest rates and boost interest payments on the baseline projection of federal debt by $441 billion.
U.S. solar stocks tumbled on Tuesday after a Senate panel proposed phasing out solar and wind tax credits by 2028, as part of changes to President Donald Trump's sweeping tax-and-spending bill.
Analysts say some working-class Americans who qualify for Medicaid could lose coverage because of churn from more frequent eligibility checks.