The budget calls for up to $4.5 trillion in new deficits through tax cuts, which Republicans plan to use to extend Trump’s expiring 2017 tax law and pass other pieces of his tax agenda.
It calls for $1.5 trillion in spending cuts, with an additional caveat: The House package has to include $2 trillion in cuts to the “mandatory” part of federal spending, which covers programs like Medicare, Medicaid and food benefits known as SNAP, or $4.5 trillion amount in tax breaks must be reduced by a commensurate amount.
NBC News
February 13, 2025
bSahil Kapur, Melanie Zanona and Kyle Stewart