politics

cryptoleft

The Republican reconciliation bill cuts SNAP benefits by $290-300 billion (over a decade) and Medicare by $792 billion+ (over a decade).

The bill includes a "no tax on tips" provision which will mostly benefit middle income earners, not low wage earners. It also includes a deduction that they can "no tax on social security" that also mostly helps middle income not low income seniors. 

The "no tax on overtime" provision will mean a loss of tax revenue to the tune of $145 billion (over a decade). It will mean that employers relying more on overtime rather than hiring new workers, potentially reducing job growth and leading to longer hours for existing employees without necessarily improving overall employment. The benefactors of this provision skew towards the high income earners.

See first reply for overall effect