Press Release

Statement on U.S. House approval of federal budget plan from Alexandra Sirota, Executive Director of the NC Budget & Tax Center

February 26, 2025

House Republicans voted yesterday to approve a budget plan that would strip health coverage and nutrition assistance from millions of people — all to pay for tax cuts for the wealthiest households.

The cost of extending tax cuts for the top 1 percent — a staggering $1.1 trillion over 10 years — roughly matches the proposed cuts for health coverage under Medicaid and food assistance under the Supplemental Nutrition Assistance Program (SNAP).

This is a blatant betrayal of their promises to lower costs and support families struggling to make ends meet. It’s yet another missed opportunity by those in power to create an economy for all instead of one rigged for billionaires and powerful interests.

As our analysis revealed yesterday, the House Republican budget plan would shift massive costs onto our state and local communities — costs North Carolina simply cannot afford. The state’s finances are already stretched by continued deep income tax breaks for profitable corporations and the wealthiest few at the state level.

When state and local governments can’t fill the gap, families will bear the harm — facing skyrocketing health insurance costs or losing coverage all together.

The House Republican budget will lead to higher food costs, more uninsured families, increased poverty and hardship, and mounting debt — all to bankroll tax cuts for the rich.

We must come together to demand a better path — one that provides economic well-being for all. Senators Budd and Tillis should reject these harmful cuts. North Carolinians deserve better.

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