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Trump's Megabill Could Soar Deficit by $3.4 Trillion

7/22/2025

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Trump Signs Deficit-Boosting Megabill

The Republican megabill signed by President Trump is projected to balloon the national deficit by a staggering $3.4 trillion, risking the health insurance of 15 million Americans. Critics like Senate Democratic Leader Chuck Schumer warn it jeopardizes families and Medicaid, while GOP Senator Lisa Murkowski expresses frustration over unmet promises for Alaska.

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Democrats Push Health Package

Amid rising tensions, Democrats are advocating for a bipartisan health package to counteract the Republican megabill's drastic Medicaid cuts. They are calling for an extension of tax credits for Affordable Care Act premiums, a move Republicans oppose. With significant funding cuts looming, Democrats are increasingly cautious about GOP motives.

History

Historical Context

The 2017 Tax Cuts and Jobs Act, signed by President Trump, reduced corporate tax rates by 14% and is projected to increase the national deficit by $1.9 trillion over a decade. This legislation disproportionately benefited wealthier individuals, exacerbating economic inequality and threatening programs like Medicaid, which could impact healthcare for nearly 12 million Americans and deepen political polarization over fiscal policy.

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Trump Signs Deficit-Boosting Megabill

The Republican megabill signed by President Trump is projected to balloon the national deficit by a staggering $3.4 trillion, risking the health insurance of 15 million Americans. Critics like Senate Democratic Leader Chuck Schumer warn it jeopardizes families and Medicaid, while GOP Senator Lisa Murkowski expresses frustration over unmet promises for Alaska.

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