With a Republican controlled Congress and Donald Trump in the White House, there should be nothing out of reach for the GOP these days. Although they’ve continually failed to overturn the Affordable Care Act, Congressional Republicans finally put it all together and passed major legislation: tax reform.
The new tax plan, aimed at restoring larger amounts of wealth to corporations and wealthy individuals, is the largest example of reform in decades. With that, an estimated $1.6 trillion will be added to the national debt. The Republican authors of the bill have been quiet on their plan to fix the deficit, but the consensus is Social Security, Medicare, and Medicaid reform. How will that sit with President Trump? More importantly, how will that sit with Americans?
Let’s see what’s at stake and how this could play out. We’ll also take a look at which states will feel the most pain from a cut in Social Security (page 6).