Tax, bill and deficit
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Trump, Medicare and tax bill
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Republican tax bill could cost $3.8 trillion over 10 years as its tax cuts surpass spending reductions, according to one analysis.
Tax cuts pushed by President Trump are amplifying debt and deficit concerns among the powerful market players who influence interest rates.
The sell-off in bonds accelerated as investors continued to fret over the US deficit, with the 10-year yield rising past 4.5% and the 30-year topping 5%.
If passed, part of the bill could impact SNAP and Medicaid recipients. The bill aims to reduce $700 billion in spending, but it wouldn't be implemented until 2029.
The greatest benefits would go to high-income households, while low-income families would see a much more modest boost, analyses show.
After the United States lost its last perfect credit rating on Friday, Republicans and Democrats responded by pointing fingers at each other.