The Wall Street Journal supports the passage of President Trump's tax bill, emphasizing its necessity to prevent a $4.5 trillion tax increase when 2017 reforms expire. The bill has garnered mixed reactions, with Republicans viewing it as the dawn of a new economic era and Democrats critiquing it as excessive. The Journal appreciates the bill's permanence of GOP tax reforms while criticizing its lack of substantial changes. Additionally, the bill includes tighter Medicaid and food stamp eligibility checks to reduce waste and improve efficiency, framing it as a pragmatic political compromise.
The Senate passed President Trump's tax bill on Tuesday, to exaggerated glee and consternation. Republicans say it is the start of a new economic golden age, while Democrats call it spendthrift and cruel.
While the influential center-right paper expressed its approval of the bill's permanent enactment of various aspects of the GOP's 2017 tax reform bill, it lamented that MAGA-era Republicans are imitating Democrats in using the tax code for industrial and social policy.
Savings from food stamps and Medicaid come entirely from policy tweaks that reduce waste and abuse such as stricter eligibility checks.
The bill attempts to crack down on state scams that expand food-stamp eligibility and use provider taxes to launder more federal Medicaid matching funds.
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