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The $24 billion in tax credits the bill would provide through 2026 for constructing new semiconductor manufacturing facilities “aren’t warranted, and I think actually ignore the major national security
Democrats included a temporary solution, delaying the shift from this year to the start of 2026, in their $2.2 trillion climate and social safety net bill.
Taxes would climb more widely in 2026, when the individual cuts from the 2017 GOP tax law are set to expire and the SALT cap would be extended under Democrats’ plan.
Spending drops sharply after 2026, when only full refundability would remain in place. About $13 billion of that cost would be for keeping it fully refundable in the second half of the decade.
Likewise, Medicare trustees said their Hospital Insurance Trust Fund will be depleted by 2026 when it will be able to cover just 89 percent of its obligations, a figure that is projected to drop to 77