According to BlockBeats, six Nobel Prize-winning economists have expressed concern over a tax and spending bill recently passed by House Republicans. The economists have issued an open letter highlighting their worries about significant cuts to Medicaid and the Supplemental Nutrition Assistance Program (SNAP). They argue that these programs are vital for American families.
The House version of the bill proposes a $700 billion reduction in Medicaid spending and a $300 billion cut to SNAP, marking the largest reductions in the history of both programs. The economists are urging the Senate to reject the bill and to start anew in crafting the budget.