Under this bill, taxpayers have been given huge relief, especially tips, overtime and tax on social security income have been waived. Along with this, child tax credit has been increased. However, to compensate for this, welfare schemes like Medicade (Government Health Program) and Snap SNAP (Food Stamps) have been cut.
– This bill will give relief to the middle class in tax but will increase the problems of the poor.
Relief in tax
Tips, overtime
Social security will not be taxed
Cut tax rates for middle and upper middle class.
Child tax credit was increased.
The US Senate and then the House of Representatives have passed it very hard. There was a lot of opposition to this, but now it has become a law. (News18)
In this bill, spending has also been cut in some items. The Medicaid program cut $ 930 billion. SNAP (Food Stamps) cut by $ 186 billion. Conditions of Work Requirement in Medicaid.
Question – What is the purpose of this bill? Do they want to make common Americans happy?
– Trump wants to please the middle class and working American families through this bill. His strategy is that the voters who have to be on their side in the 2024 elections should be given tax exemption and financial relief.
Trump has described it as “victory for American workers”. Regarding the cutting of medicade and food stamps, they say that the government will stop feeding the lazy for free and this will save the money of hardworking taxpayers.
– There is disagreement about this bill in the Republican party itself. Many Republican MPs believe that this will cause a lot of losses to the government. Such a huge deficit will make the country financially weak. Three Republican Senators have voted against it. The cuts in Medicade and Snap will increase the difficulties of poor, rural and elderly Americans. This will increase the financial danger in the long term. There is a possibility of inflation, interest rate and debt crisis.
This new law of Donald Trump is considered completely political, so that he will please America’s middle class on a large scale. Of course, the poor and the people of the village will be angry with this, but it seems that Trump will not mind. (News18)
Question – Why is Alan Musk so angry with this bill? He threatened to create a new party opposition to this?
– Alan Musk is strong opponent to this bill of Trump and he has called it very bad and disgusting step. Musk says that this will make the US more stuck in the debt marsh. In this bill, electric vehicles and green energy subsidies received by companies like Tesla were abolished. This will cause great loss to the companies of Musk.
Alan Musk is very angry with this new law. Because this is going to make a lot of losses to their electric cars making companies. (Credit- Reuters)
Question – Is there a personal conflict between Trump and Musk?
– Absolutely. There have been long differences between Trump and Musk. Trump accused Musk that he is only worried about EV subsidy. Trump publicly called Musk a “failed leader”. Musk described Trump’s policies as financial suicide. Now this confrontation is not just a policy, but has taken the form of political war.
– The middle class and working class will get relief in tax. Medicade cuts have been in danger of losing health coverage to millions of people, which have been helpful for people in America on a large scale. This will directly affect 1 to 1.5 crore people. Snap cuts will make life very difficult for poor and low -income families in America. Border security and heavy funding to the army will make the country’s border policy strict. But in the long term, it is said to be very harmful for America.
Question – Will Trump benefit from this bill?
– Absolutely you will get. Trump will make the middle class and taxpayer sections happy with this bill and take a big lead in the election. But Medicade and Snap Cuts can cause poor and rural voters angry. Also, opposition to a personality like Alan Musk and differences within the party can also harm the Republican Party.
