A detailed menu of options for blockbuster legislation including tax cuts and other GOP priorities, obtained by POLITICO, shows the extent to which lawmakers are putting dozens of federal programs under a microscope for cuts and other far-reaching changes.
The document lists proposals to repeal Obamacare subsidies, sell federal land and make wide-ranging reforms to Medicare and the Supplemental Nutrition Assistance Program.
Other options include repealing many of the clean energy credits from Democrats’ Inflation Reduction Act, including the carbon sequestration credit, the nuclear power credit and the tax credit for electric vehicles.
It also includes proposals to increase the endowment tax on universities from 1.4 percent to 14 percent; eliminate the non-profit status for hospitals; and allow taxpayers to fully deduct their interest for auto loans.
Many of the tax policies floated by President-elect Donald Trump on the campaign trail now have specific price tags attached to them, including $106 billion over ten years for eliminating the tax on tips.
The document, prepared recently by House Budget Committee Republicans, shows many policy options that have been under consideration by the GOP for a while, but in far greater detail than has previously been disclosed,
The health care, trade, tax and energy proposals include revenue estimates and a highlighted “viability” section under each proposal labeled “high,” “medium” and “low,” indicating they’re being vetted for their chances of enactment.
