FACT SHEET: The President's Budget Cuts the Deficit by $3 Trillion Over 10 Years | The White House

Contributing sentiments towards policy:

60% : For Medicaid, the Budget includes proposals to ensure Medicaid and the Children's Health Insurance Program (CHIP) are prudent purchasers of prescription drugs, such as authorizing HHS to negotiate supplemental drug rebates on behalf of interested States in order to pool purchasing power.
56% : In contrast to Republicans' plans to increase the deficit, the President's Budget improves the fiscal outlook by reducing the deficit by roughly $3 trillion over the next 10 years by making the wealthy and large corporations pay their fair share, closing tax loopholes, cutting wasteful spending on Big Pharma, Big Oil, and other special interests, and following the Fiscal Responsibility Act.
56% : Billionaires make their money in ways that are often taxed at lower rates than ordinary wage income, or sometimes not taxed at all, thanks to giant loopholes and tax preferences that disproportionately benefit the wealthiest taxpayers.
55% : The Inflation Reduction Act addressed long-standing IRS funding deficiencies by providing stable, multi-year funding to improve tax compliance by finally cracking down on high-income individuals and corporations who too often avoided paying their lawfully owed taxes, and to improve service for the millions of Americans that do pay their taxes.
55% : Makes Large Corporations Pay Their Fair ShareRaises Tax Rates for Large Corporations.
54% : The 2017 tax law lowered tax rates for the wealthiest Americans, delivering an average total tax cut of more than $50,000 for the top 1% and more than $190,000 for the top 0.1% in 2018.
54% : The President's Budget would restore the full Inflation Reduction Act investment and provide new funding over the long-term to continue cutting the deficit by making sure that wealthy Americans and big corporations pay the taxes they owe through tax compliance initiatives and to continue improving service for taxpayers who are just trying to pay what they owe.
54% : Medicare is also negotiating lower drug prices for the first time ever, starting with ten of the costliest, most widely used drugs used to treat blood clots, cancers, arthritis, diabetes, and more.
54% : The Budget builds on this success by significantly increasing the pace of negotiation, bringing more drugs into negotiation sooner after they launch, expanding the Inflation Reduction Act's inflation rebates and $2,000 out-of-pocket prescription drug cost cap beyond Medicare and into the commercial market, and by taking other steps to build on the Inflation Reduction Act drug provisions.
53% : In addition, the President has enacted another roughly $1 trillion in savings over the next decade through the Fiscal Responsibility Act, and through the Inflation Reduction Act provisions that empower Medicare to negotiate lower prescription drug prices, cap insulin at $35 per month for seniors and people with disabilities, and make the wealthy and large corporations pay more of their fair share.
53% : For decades, countries have competed for multinational business by slashing tax rates, at the expense of having adequate revenues to finance core services.
52% : The RSC budget would raise the Social Security retirement age, restrict eligibility for Social Security Disability Insurance, slash disability benefits for low-income adults and children with disabilities, and increase healthcare costs for millions of seniors.
52% : To finally address this glaring inequity, the President's Budget includes a 25 percent minimum tax on the wealthiest 0.01 percent, those with wealth of more than $100 million.Requires Wealthy People to Pay their Fair Share Toward Medicare to Extend Medicare Solvency Indefinitely.
52% : The President is committed to ending tens of billions of dollars of federal tax subsidies for oil and gas companies.
52% : Eliminates Tax Subsidies for Cryptocurrency Transactions.
52% : The Budget eliminates this tax subsidy for crypto currencies by modernizing the tax code's anti-abuse rules to apply to crypto assets just like they apply to stocks and other securities.
48% : Eliminates Tax Subsidies for Oil and Gas.
47% : The Budget also limits Medicare Part D cost-sharing for high-value generic drugs, such as those used to treat hypertension and high-blood pressure, to no more than $2 for Medicare beneficiaries.
47% : The Budget eliminates special tax treatment for oil and gas company investments, as well as other fossil fuel tax preferences.
45% : The Budget will lower Medicaid costs by over $10 billion by requiring that insurance companies pay Medicaid back when they charge it far more than they actually spend on patient care.
45% : With it, insurance companies will no longer be able to charge for unnecessary administrative expenses or sacrifice quality patient care to increase their profit margins, and if they charge too much, they will have to pay it back to the Medicaid program rather than keeping the profits and, in some cases, making larger payments to shareholders.Eliminates Tax Subsidies for Real Estate.
44% : The President's Budget:Makes the Wealthy Pay Their Fair ShareRequires Billionaires to Pay at Least 25 Percent of Income in Taxes.
44% : Denies Corporate Tax Breaks for Million Dollar Executive Compensation.
42% : Cracks Down on Tax Avoidance by Large Multinationals, including Big Pharma.
41% : Even as they benefit from billions of dollars in special tax breaks, oil companies have failed to invest in production.
39% : Ensures That the IRS Can Continue to Collect Taxes Owed by Wealthy Tax Cheats.
37% : It also makes drastic cuts to Medicaid, the Affordable Care Act, and the Children's Health Insurance Program, which could result in tens of millions of children and families losing their health insurance.
27% : Instead, they would rather add trillions to the national debt than take back even one dollar of the $150 billion annual rate cut corporations received under President Trump.
27% : The budget proposed by the Republican Study Committee (RSC), representing nearly 80 percent of House Republicans, shows how they would pay for those tax cuts: by slashing Social Security, Medicare, the Affordable Care Act, Medicaid, and other programs that drive economic growth and that seniors, people with disabilities, and families count on.

*Our bias meter rating uses data science including sentiment analysis, machine learning and our proprietary algorithm for determining biases in news articles. Bias scores are on a scale of -100% to 100% with higher negative scores being more liberal and higher positive scores being more conservative, and 0% being neutral. The rating is an independent analysis and is not affiliated nor sponsored by the news source or any other organization.