Tag Archives: Republicans

MAGA allies eye drastic Medicaid and food stamp cuts to fund tax breaks for rich: report

Donald Trump and his allies are floating the idea of major cuts to Medicaid and the food stamp program in order to offset some of the budget deficits created by their desired new round of tax cuts for the rich, reported The Washington Post on Monday. The new tax cuts are a huge priority for Trump and his allies — in particular extending the provisions of a 2017 tax cut bill that are set to expire. The corporate tax cuts in that bill were made permanent, aside from some subsequent tweaks to corporate taxes made under the Biden administration, but the individual income tax cuts are set to run ou…

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Author: NewsBreak

Republican control will shift US energy policy away from net zero, but sweeping agenda faces roadblocks

Republican control in the US will move energy policy away from net zero targets, but President-elect Trump’s full agenda will face political and market opposition according to Wood Mackenzie analysis.

The US is likely in store for lighter standards on emissions regulations, more protectionist trade policies, and removing the US from the Paris Agreement, all of which would shift US policy away from a net-zero trajectory. However, bi-partisan support for the Inflation Reduction Act (IRA) in Congress, competitive economics for renewable power and private sector net zero goals will not derail the energy transition.

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Author: WoodMackenzie