Food stamps, environmental safeguards and denying Ozempic: The ways Republicans could pay for Trump’s tax cuts
The IndependentSign up for the daily Inside Washington email for exclusive US coverage and analysis sent to your inbox Get our free Inside Washington email Get our free Inside Washington email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Donald Trump’ and his Congressional allies could add requirements to welfare programs such as Medicaid, withhold prescription drugs from federal health care coverage, repeal environmental regulations and more in order to reduce federal spending and pay for his new round of tax cuts. Here are some ideas Republicans have floated to reduce federal spending and pay for Trump’s tax cuts: open image in gallery Trump wants to reduce taxes for Americans while also limiting federal spending as not to increase U.S. debt Tariffs The president-elect has proposed adding tariffs to imports to supplement lowering taxes for Americans – an idea that many economists have opposed. The Committee for a Responsible Federal Budget suggests Trump’s proposals could save the U.S. $700 billion in spending. Repeal student loan forgiveness Republicans have been unwelcoming toward Biden’s student loan forgiveness plan, Saving on a Valuable Education, and Trump could make their wish come true by canceling it entirely once he takes office.