Trump touted a big corporate tax cut yesterday, but how will it be paid for?

House Republicans currently have just at 217-215 margin and that’s going to make passing a big corporate tax cut very difficult, especially since it will need to be paid for via reconciliation rules. Trump yesterday talked about getting Democrats on board but today, Punchbowl outlined a pitch from Republican committee chairs on what could add up to between $2.5 trillion and $3 trillion of spending cuts

• Major cuts target Medicaid, student loans, and social programs
• The cuts would focus on Medicaid caps and add work requirements that could total as much as $2 trillion
• Education Committee targets $500B in student loan restrictions
• Agriculture Committee seeks $100-250B in SNAP/food stamp cuts
• Smaller cuts from other committees include immigration fees, EV charges
• GOP considers roll back parts of 2022 Inflation Reduction Act

More at Punchbowl.

This article was written by Adam Button at www.forexlive.com.