House Republicans have suggested cuts they want to make to the federal budget.
Everything You Need to Know About the Changes in Entitlement Programs
The House GOP started confirming their plans to cut spending on entitlement programs. This includes Social Security and Medicare in the months leading up to midterms. Republican lawmakers are willing to use the debt ceiling to bargain and get the Biden Administration to cave on spending cuts to Medicare and Social Security. It would be disastrous for America if they fail to raise the debt ceiling by summer as it could cause the US to default on its debt for the first time in history.
It was reported that a group of Republicans pushed for House panels to recommend changes to Social Security and Medicare. Republicans have the power over the debt ceiling which will restrict the amount of money the government can borrow to pay its bills. To top it off most conservative members of the party has leverage on the recently elected Speaker of the House, Rep. Kevin McCarthy. There are reports that the reductions McCarthy made included promoting cuts to entitlement programs.
The Outline on Budget and Spending Priorities
According to a post by Business Insider, GOP leaders presented an outline of their budget and spending priorities to the Republican House members. The presentation gave out vague spending priorities but mentioned reforms to mandatory spending programs that could include Social Security and Medicare. In addition to this, Republicans proposed the conversion of Medicaid and Affordable Care Act subsidies to block grants which would cut spending by $3.6 trillion over 10 years.
A public policy professor at Georgetown University Edwin Park commented that it would obviously be strongly opposed by the Senate and the White House. He followed it by saying that the holdouts were clear that they would hold raising the debt limit hostage to major spending cuts.
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