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House GOP Unveils $4.9T Tax Reform Amid Medicaid Cuts

5/13/2025

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Summary

Story summary

House Republicans have unveiled a bold $4.9 trillion tax reform bill, seeking to extend tax breaks while introducing new incentives, notably boosting the state and local tax deduction. However, the plan's reliance on cuts to Medicaid and green energy programs has sparked concern among some Republicans, who worry about the potential political fallout.

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Story summary

House Republicans have unveiled a bold $4.9 trillion tax reform bill, seeking to extend tax breaks while introducing new incentives, notably boosting the state and local tax deduction. However, the plan's reliance on cuts to Medicaid and green energy programs has sparked concern among some Republicans, who worry about the potential political fallout.