President Trump’s latest budget plan has sparked debate, with supporters praising tax cuts, spending reductions, and increased defense funding, while critics warn of rising national debt, income inequality, and cuts to social programs.
Here’s a look at the key takeaways and the pros and cons.
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1. Tax cuts: Expanding relief for corporations and the rich
The $5 trillion tax cuts are intended to drive economic growth by boosting business reinvestment and increasing disposable income for individuals. The hope is that this leads to job creation and greater U.S. corporate competitiveness.
Critics argue these cuts may raise the national deficit and disproportionately benefit the wealthy, widening income inequality while offering minimal relief to middle-class families.
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2. Spending reductions: Scaling back government expenditures
