The budget cut math is looking tricky for Republicans
Marketplace Morning Report
Marketplace
4.5 • 927 Ratings
🗓️ 6 March 2025
⏱️ 8 minutes
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Summary
New Congressional Budget Office calculations suggest a difficult path ahead for Republicans as they seek to find billions in budget cuts. The figures show Republicans are unlikely to meet their cost-cutting goals without finding savings in health insurance programs that serve about 80 million low-income Americans and children. We’ll discuss. And later, we’ll parse out the current state of the job market and talk about the relationship between kids, social media and AI.
Transcript
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| 1:02.8 | David Brancaccio. Republicans in Congress are searching for billions in budget cuts to partially |
| 1:07.9 | offset tax cuts they want to pass. But new calculations from the |
| 1:11.1 | Congressional Budget Office suggests they won't be able to do it without finding savings |
| 1:15.6 | in health insurance programs that serve about 80 million low-income Americans and children. |
| 1:20.7 | Marketplaces Nova Sappho's here with the details. Hi, Nova. Good morning. So Congress is in the |
| 1:26.8 | middle of a process called budget reconciliation. They want to pass tax cuts and to reduce federal spending. Enter math from the CBO. How does that fit into all of this? Well, yeah, it shows that the budgetary math is very difficult for Republicans. They're seeking tax cuts that will cost more than $4 trillion and budget cuts of $2 trillion. |
| 1:48.0 | Lawmakers now do this by assigning committees to reconcile the budget. That's the budget of reconciliation. |
| 1:53.0 | And the CBO report was about savings that the House Energy and Commerce Committee is tasked with finding. |
| 1:59.0 | It needs to cut $880 billion from the budget. |
| 2:02.2 | The CPA found that unless the committee targeted funding for Medicaid and the Children's Health |
| 2:07.7 | Insurance Program known as CHIP, it would at best be able to reduce spending by $135 billion. |
| 2:13.0 | And even that's unlikely, Sabri, so the savings are just not there. |
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