The Trump administration is poised to release a drastic proposal that seeks to dramatically reduce the size of the federal government; consolidating agencies and combining “social safety net” programs to help streamline efficiency and save money.
According to Politico, the “sweeping plan” will be released within weeks and sets to move social programs -such as food stamps and social security- into the Department for Health and Human Services.
“The plan would also propose changing the name of the sprawling department, while separately seeking cuts at the U.S. Agency for International Development and the State Department,” writes Politico.
Trump officials believe the current system, spread out across multiple agencies, is a breeding ground for fraud and misuse. They cite the $70 billion food stamp program, currently ran by the Agriculture Department.
“You have low-income assistance in a bunch of different shops without one point of oversight and without a whole lot of communication,” said an administration insider. “Why not have one federal agency responsible for execution?”
Read the full story at Politico.
BLUE STATE BLUES: New Jersey to REINSTATE OBAMACARE Tax as Prices SPIRAL
Just months after the Trump administration and the GOP-controlled Congress officially ended Obama’s individual mandate requiring all Americans to face a penalty if uninsured, New Jersey is poised to reinstate the tax as healthcare costs spiral out of control.
“Governor Phil Murphy on Wednesday signed the new tax into law that will impose the tax on residents who choose not to purchase ‘qualifying’ health insurance as defined by Obama-era regulations,” writes Americans for Tax Reform.
According to the organization, nearly 80% of New Jersey households impacted by the Obamacare mandate earn under $50,000, directly harming low-income workers throughout the state who are ineligible for other programs, such as Medicaid.
“78% of New Jersey households hit by the Obamacare mandate tax make less than $50,000 per year. According to the IRS, the Obamacare mandate tax hit 188,570 New Jersey families and individuals in the most recent year of available data. 146,910 of these taxpayers made less than $50,000 per year – 78 percent of those impacted by the mandate,” says the report.
Read the full report here.
Middle Class Income Highest Level Ever Recorded
The hardworking men and women that comprise America’s middle class had their highest earnings ever recorded last year, the United States Census Bureau reported on Tuesday; a critical figure suggesting the US economy was back on track following years of tepid growth.
According to the Washington Post, median household income for average American families was $59,039 last year, beating the previous record of $58,655 back in 1999. The figures are adjusted to account for inflation, and show an American economy roaring back to life.
Additionally, the United States poverty rate fell to 12.7%, the lowest levels seen since 2007, just months before the fiscal crisis devastated the American economy.
President Trump campaigned largely on bolstering the middle class, whom he said were often neglected and haven’t seen real wage increases since the early 2000s. Since taking office, Trump has slashed burdensome regulations that economists believe unnecessarily hindered the job market.
Speaking last month, the President turned his sights to tax reform, saying this was a “once in a generation” opportunity to provide tax relief to the hardworking American families.
“We’re here today to launch our plans to bring back Main Street by reducing the crumbling burden on our companies and on our workers,” Trump told a crowd in Missouri. “The foundation of our job creation agenda is to fundamentally reform our tax code for the first time in more than 30 years.”