Latest news with #AndySullivan
Yahoo
12-05-2025
- Business
- Yahoo
Factbox-What's in the Republican tax and health plan - and what is not
By Andy Sullivan WASHINGTON (Reuters) -Republicans in the U.S. Congress have released initial drafts of a sweeping budget package that would fulfill President Donald Trump's calls to cut taxes and reduce spending, though many details still need to be resolved. Here is a summary of what they have proposed and what they have left out at this point. Budgetary estimates cover the next 10 years and are provided by the Joint Committee on Taxation and the Congressional Budget Office. TAXES WHAT'S IN Makes permanent the lower income tax rates in Trump's 2017 Tax Cuts and Jobs Act that are currently due to expire at the end of 2025. Boosts the standard deduction by an additional $1,000 to $1,500 until 2029. Extends increased alternative minimum tax and the enhanced deduction for "pass-through" businesses, such as sole proprietorships. Expands the Child Tax Credit to $2,500 from $1,000 until 2029, and keeps it at $2,000 after that, indexed to inflation. Raises the estate tax exemption from $14 million to $15 million. Extends tax breaks for multinational corporations. TOTAL COST: $4.9 trillion WHAT'S NOT INCLUDED Not all elements of the plan are final, but initial proposals do not include Trump's suggestion to raise the top income tax rate on the highest-earning Americans, deductions for state and local taxes or address Trump's campaign promises to eliminate taxes on tips, overtime and Social Security benefits. MEDICAID WHAT'S IN Requires able-bodied adults who have no dependents to work, volunteer or be in school at least 80 hours a month. Bolsters verification efforts that check whether participants and healthcare providers are eligible for Medicaid. Blocks regulations that make it easier to enroll. Excludes non-citizens from the program and penalizes states that use their own funds to provide coverage to illegal immigrants. Blocks regulations that required minimum staffing levels at nursing homes and other long-term care facilities. Prohibits funding for gender transition therapies for minors. Prohibits payments to large providers like Planned Parenthood that specialize in birth control, abortion and other reproductive health services. Limits state taxes on providers that are used to raise the federal government's contribution. WHAT'S NOT INCLUDED Reduced payments to states that expanded eligibility under the Affordable Care Act. Changes to the way the federal government helps states pay for the program. TOTAL SAVINGS: $715 billion. CBO estimated that these changes would reduce enrollment in Medicaid by at least 8.6 million people 10 years from now. Medicaid currently covers about 71 million people. ENERGY, ENVIRONMENT, COMMUNICATIONS Cancels funding for green-energy grant programs in the 2022 Inflation Reduction Act, including vehicle manufacturing, home efficiency upgrades, electricity transmission, wind power. Creates incentives for pipelines, natural gas exports and exploration. Repeals grant programs for purchasing electric heavy-duty vehicles. Repeals grants to reduce air pollution, greenhouse gas emissions. Repeals fuel-efficiency standards for automobiles and pickup trucks. Makes more electromagnetic spectrum bands for communication available for auction. Prohibits states from regulating artificial intelligence. TOTAL SAVINGS: $197 billion
Yahoo
12-05-2025
- Business
- Yahoo
Factbox-What's in the Republican tax and health plan - and what is not
By Andy Sullivan WASHINGTON (Reuters) -Republicans in the U.S. Congress have released initial drafts of a sweeping budget package that would fulfill President Donald Trump's calls to cut taxes and reduce spending, though many details still need to be resolved. Here is a summary of what they have proposed and what they have left out at this point. Budgetary estimates cover the next 10 years and are provided by the Joint Committee on Taxation and the Congressional Budget Office. TAXES WHAT'S IN Makes permanent the lower income tax rates in Trump's 2017 Tax Cuts and Jobs Act that are currently due to expire at the end of 2025. Boosts the standard deduction by an additional $1,000 to $1,500 until 2029. Extends increased alternative minimum tax and the enhanced deduction for "pass-through" businesses, such as sole proprietorships. Expands the Child Tax Credit to $2,500 from $1,000 until 2029, and keeps it at $2,000 after that, indexed to inflation. Raises the estate tax exemption from $14 million to $15 million. Extends tax breaks for multinational corporations. TOTAL COST: $4.9 trillion WHAT'S NOT INCLUDED Not all elements of the plan are final, but initial proposals do not include Trump's suggestion to raise the top income tax rate on the highest-earning Americans, deductions for state and local taxes or address Trump's campaign promises to eliminate taxes on tips, overtime and Social Security benefits. MEDICAID WHAT'S IN Requires able-bodied adults who have no dependents to work, volunteer or be in school at least 80 hours a month. Bolsters verification efforts that check whether participants and healthcare providers are eligible for Medicaid. Blocks regulations that make it easier to enroll. Excludes non-citizens from the program and penalizes states that use their own funds to provide coverage to illegal immigrants. Blocks regulations that required minimum staffing levels at nursing homes and other long-term care facilities. Prohibits funding for gender transition therapies for minors. Prohibits payments to large providers like Planned Parenthood that specialize in birth control, abortion and other reproductive health services. Limits state taxes on providers that are used to raise the federal government's contribution. WHAT'S NOT INCLUDED Reduced payments to states that expanded eligibility under the Affordable Care Act. Changes to the way the federal government helps states pay for the program. TOTAL SAVINGS: $715 billion. CBO estimated that these changes would reduce enrollment in Medicaid by at least 8.6 million people 10 years from now. Medicaid currently covers about 71 million people. ENERGY, ENVIRONMENT, COMMUNICATIONS Cancels funding for green-energy grant programs in the 2022 Inflation Reduction Act, including vehicle manufacturing, home efficiency upgrades, electricity transmission, wind power. Creates incentives for pipelines, natural gas exports and exploration. Repeals grant programs for purchasing electric heavy-duty vehicles. Repeals grants to reduce air pollution, greenhouse gas emissions. Repeals fuel-efficiency standards for automobiles and pickup trucks. Makes more electromagnetic spectrum bands for communication available for auction. Prohibits states from regulating artificial intelligence. TOTAL SAVINGS: $197 billion Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
12-05-2025
- Business
- Yahoo
Factbox-What's in the Republican tax and health plan - and what is not
By Andy Sullivan WASHINGTON (Reuters) -Republicans in the U.S. Congress have released initial drafts of a sweeping budget package that would fulfill President Donald Trump's calls to cut taxes and reduce spending, though many details still need to be resolved. Here is a summary of what they have proposed and what they have left out at this point. Budgetary estimates cover the next 10 years and are provided by the Joint Committee on Taxation and the Congressional Budget Office. TAXES WHAT'S IN Makes permanent the lower income tax rates in Trump's 2017 Tax Cuts and Jobs Act that are currently due to expire at the end of 2025. Boosts the standard deduction by an additional $1,000 to $1,500 until 2029. Extends increased alternative minimum tax and the enhanced deduction for "pass-through" businesses, such as sole proprietorships. Expands the Child Tax Credit to $2,500 from $1,000 until 2029, and keeps it at $2,000 after that, indexed to inflation. Raises the estate tax exemption from $14 million to $15 million. Extends tax breaks for multinational corporations. TOTAL COST: $4.9 trillion WHAT'S NOT INCLUDED Not all elements of the plan are final, but initial proposals do not include Trump's suggestion to raise the top income tax rate on the highest-earning Americans, deductions for state and local taxes or address Trump's campaign promises to eliminate taxes on tips, overtime and Social Security benefits. MEDICAID WHAT'S IN Requires able-bodied adults who have no dependents to work, volunteer or be in school at least 80 hours a month. Bolsters verification efforts that check whether participants and healthcare providers are eligible for Medicaid. Blocks regulations that make it easier to enroll. Excludes non-citizens from the program and penalizes states that use their own funds to provide coverage to illegal immigrants. Blocks regulations that required minimum staffing levels at nursing homes and other long-term care facilities. Prohibits funding for gender transition therapies for minors. Prohibits payments to large providers like Planned Parenthood that specialize in birth control, abortion and other reproductive health services. Limits state taxes on providers that are used to raise the federal government's contribution. WHAT'S NOT INCLUDED Reduced payments to states that expanded eligibility under the Affordable Care Act. Changes to the way the federal government helps states pay for the program. TOTAL SAVINGS: $715 billion. CBO estimated that these changes would reduce enrollment in Medicaid by at least 8.6 million people 10 years from now. Medicaid currently covers about 71 million people. ENERGY, ENVIRONMENT, COMMUNICATIONS Cancels funding for green-energy grant programs in the 2022 Inflation Reduction Act, including vehicle manufacturing, home efficiency upgrades, electricity transmission, wind power. Creates incentives for pipelines, natural gas exports and exploration. Repeals grant programs for purchasing electric heavy-duty vehicles. Repeals grants to reduce air pollution, greenhouse gas emissions. Repeals fuel-efficiency standards for automobiles and pickup trucks. Makes more electromagnetic spectrum bands for communication available for auction. Prohibits states from regulating artificial intelligence. TOTAL SAVINGS: $197 billion
Yahoo
30-04-2025
- Health
- Yahoo
Explainer-Republicans weigh cuts to Medicaid that could dramatically affect millions
By Andy Sullivan WASHINGTON (Reuters) -President Donald Trump's fellow Republicans in the U.S. Congress are weighing steep cuts to the Medicaid health program as part of a wide-ranging budget package that also would cut taxes and raise spending on defense and border security. That could lead to dramatic changes for one of the biggest U.S. safety-net programs, which provides coverage to 83 million low-income people, according to government figures. Here are some options being considered by Republicans on the House of Representatives Energy and Commerce Committee: REQUIRING RECIPIENTS TO WORK Republicans are divided over how deeply to cut Medicaid, which is jointly funded by the federal government and states. The program cost Washington $618 billion last year and is projected by the Congressional Budget Office to grow 60% over the coming 10 years. But concerns about Medicaid among a dozen House Republicans and several Senate Republicans have prompted Trump and party leaders to assure lawmakers that their measures will not lead to cuts in benefits, though it is not clear what they mean. Republicans broadly support adding a work requirement for adult recipients, arguing that tax dollars should not go to those unwilling to support themselves. While supporters for the program say the expansion to some adult recipients has led to the lowest uninsured rate in U.S. history, leading to better health and economic outcomes for the country as a whole. A Republican proposal in 2023 would have required able-bodied adults between the ages of 19 and 55 who do not have dependents to spend at least 80 hours a month either working or participating in job training or community service. CBO estimated that would reduce federal spending by $109 billion over 10 years by excluding 1.5 million current recipients. Roughly 900,000 would remain covered through their state programs, while 600,000 would become uninsured, CBO said. Analysts say a work requirement could inadvertently force out qualified Medicaid recipients, due to the increased administrative hurdles they would face to prove eligibility. Georgia included a work requirement when it opted into the Obamacare expansion in 2023. According to news reports, relatively few people have signed up as the requirement to prove they are working has complicated enrollment. REDUCE SUPPORT FOR OBAMACARE EXPANSION Medicaid has grown significantly since 2010, when Democratic President Barack Obama's Affordable Care Act, also known as Obamacare, expanded coverage to include childless adults who earn slightly more than poverty wages. The Supreme Court made this expansion optional for states, and 41 have opted in. Republicans fiercely opposed that law and tried repeatedly to repeal it, but many Republican-led states now participate in the Obamacare expansion. Though Republicans have given up on trying to repeal Obamacare, they are discussing ways to roll back support for the Medicaid expansion the law enabled. Roughly 20 million Medicaid recipients are currently covered through the Obamacare expansion. One approach would scale back the federal funding share of the Obamacare expansion from 90% - the level in place now - to levels closer to what Washington provides for the rest of the program, which ranges from 77% to 50%, depending on income levels and other factors in each state. This would require states to shoulder more of the cost themselves, kick people off the program, or both. Even a slight reduction in federal support could cause millions of people losing coverage, as 12 states have "trigger" laws in place that would end or reduce their Obamacare expansions if the federal share of funding changed. Alternatively, Republicans could opt for a "per capita" cap on Obamacare expansion spending to avoid running afoul of those trigger laws. That would limit spending growth based on some metric, such as inflation. The Kaiser Family Foundation estimates that would shift $246 billion in costs to states over the next 10 years, which could prompt some states to drop people from the program. ELIMINATE PROVIDER TAX LOOPHOLE Some states effectively shift more of their costs to the federal government by taxing hospitals and other healthcare providers, then using that money to increase Medicaid payments to those same providers. This maneuver increases a state's total Medicaid spending, qualifying it for additional federal funding. While legal, the practice has been widely criticized as a gimmick or loophole that does not accurately reflect how much money is actually being spent on medical care. Eliminating the provider tax entirely, along with a similar maneuver used by local governments that operate their own hospitals, would save the federal government up to $655 billion over 10 years, according to the nonpartisan Committee for a Responsible Federal Budget. But that would force states to shoulder more of the burden, potentially leading to scaled back coverage. STEP UP VERIFICATION, EXCLUDE NONCITIZENS Though they have yet to formally propose specific Medicaid cuts so far, Republicans have spoken extensively about eliminating "waste, fraud and abuse" in the program. This could take the form of more stringent verification requirements to ensure that nonqualified people are not covered, though those steps could also end up excluding qualified people who may not be able to provide the required paperwork. Republicans could also push to exclude noncitizens who are now covered by Medicaid, amplifying Trump's crackdown on immigrants. Medicaid is currently open to some immigrants who are lawfully present in the country, though many - including green card holders - must wait five years before they can sign up. Undocumented immigrants in the United States are not eligible for coverage. The program also reimburses hospitals for emergency care they provide to immigrants who are not eligible. Several states, including California and New York, have expanded their Medicaid programs further to cover all poor residents regardless of their immigration status, relying on their own money for this purpose, according to KFF. Others cover some immigrant populations, such as children, who are not in the country legally. Eligible noncitizens account for 6% of those enrolled in Medicaid and CHIP, a related health program for children, according to KFF.
Khaleej Times
17-03-2025
- Business
- Khaleej Times
Clutch Pro Tour partners with Visit Morocco as ambitious 2025 Season tees off in UAE
The Clutch Pro Tour is set to embark on its most ambitious season yet, bolstered by a new partnership with Visit Morocco – 'The Kingdom of Light.' This collaboration enhances Morocco's position as a premier golfing destination while expanding the tour's global footprint, with key stops in the UAE, Oman, and Morocco. The 2025 season begins this week in Al Ain, UAE, marking another milestone for the Clutch Pro Tour, which has rapidly established itself as one of the world's leading development circuits. Since its launch in 2019, the tour has gained Official World Golf Ranking (OWGR) accreditation, achieved Official Satellite Tour status to the HotelPlanner Tour and DP World Tour, and attracted an increasingly competitive field of rising stars and seasoned professionals. Among the tour's past champions is four-time DP World Tour winner Andy Sullivan, who claimed victory in a dramatic playoff at the 2020 Clutch Pro Tour Major. Expanding Horizons in Morocco and the UAE This season, the Clutch Pro Tour continues its strategic expansion, with Morocco playing a central role in its international growth. The tour will also introduce a key new tournament in the UAE, the UAE Championship at Al Ain Equestrian, Shooting & Golf Club, which begins on March 18 and runs through March 20. The winner of this event will earn a coveted spot in next month's Abu Dhabi Challenge on the HotelPlanner Tour, along with a prize of £8,000. Following the UAE Championship, the tour will make two stops in Oman—at La Vie Golf Club later this month and at Al Mouj Golf in Muscat in April—before culminating in a season-ending Tour Championship at Al Hamra Golf Club in Ras Al Khaimah. The stakes are high, with the top three finishers on the season-long Order of Merit securing HotelPlanner Tour cards for 2026, marking a significant step in their professional careers. A Groundbreaking Partnership As part of its expansion, the Clutch Pro Tour has launched a new series in partnership with Visit Morocco. The 'Morocco: Kingdom of Light Series' will feature four prestigious events in the United Kingdom, hosted at Heythrop Park, Brocket Hall, South Staffs, and Hever Castle. This partnership will provide significant incentives for players, including £140,000 in series prize money. Additionally, the top male and female finishers will earn invitations to compete in Moroccan events in 2026, while the series champion will qualify for The Dutch Futures on the HotelPlanner Tour. Clutch Pro Tour CEO Tom Hayward described the partnership as a defining moment for the tour. 'This is a major milestone for us,' Hayward said. 'The addition of Visit Morocco as our Official Tourism Partner reflects the momentum we're building as we expand globally. Morocco is a stunning golf destination, and we're excited to showcase its world-class courses and culture. This partnership is a key step in our long-term vision for the tour.' Strong Field Assembles in Al Ain The UAE Championship in Al Ain has attracted a full field of 156 players, featuring an exciting mix of emerging talent and experienced professionals. Notable names in the field include England's Ashley Chesters, Sam Westwood, and Seve Benson. The tournament will also provide a platform for promising amateur players, including Faye AlBlooshi (UAE), Max Cashmore, Mo Craig (TFA, JGE), and Sara Engsig, as well as several others looking to test their skills against elite competition. Among the professional ranks, Tom Hanson, Tom Ogilvie, and Damien Scott will also be in action. Tee times begin at 6:40 AM from both the 1st and 10th tees, with the final group teeing off at 1:30 PM. With an exciting season opener, a groundbreaking new partnership, and a packed international schedule, the Clutch Pro Tour's 2025 campaign promises to be its most dynamic and competitive yet.
