Republicans Face Difficulties in Cutting Trillions from Budget
(MENAFN) On Thursday, U.S. House Republicans were confronted with the daunting task of reducing the budget by USD1.5 trillion — a move likely to involve slashing hundreds of billions from Medicaid — to offset the cost of Leader Trump's tax cuts, as reported by the media.
Despite House leaders assuring that Medicaid, the joint federal-state health program that serves over 70 million low-income individuals, would not face drastic reductions, it remains uncertain how they plan to achieve the significant budget cuts approved by Congress earlier this month without severely impacting Medicaid funding.
The budget resolution assigns the House Energy and Commerce Committee, responsible for overseeing both Medicare and Medicaid, the responsibility of finding at least USD880 billion in savings over the next decade.
Since Medicare, which provides health care for seniors, is not under consideration for cuts, Medicaid seems to be the primary focus for reaching these savings targets.
The nonpartisan Congressional Budget Office has cautioned that it would be nearly impossible to meet such a savings goal without affecting Medicaid.
Medicaid makes up 93 percent of the committee’s non-Medicare mandatory spending, leaving few other options.
Other programs under the committee’s authority, which are neither Medicare nor Medicaid, account for just USD581 billion in projected spending over the next decade.
Based on the report, even if all of these programs were eliminated, the savings would still fall significantly short of the USD880 billion target.
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