Nobel Prize economist issues open letter criticizing Trump tax reform bill
Internet reports that six Nobel Prize winners in economics recently issued an open letter expressing concerns about the trillion-dollar tax and spending bill passed by House Republicans last month. Concerns are mainly about cuts to Medicaid and the Supplemental Nutritional Assistance Program (SNAP), which they believe are critical to American families. The House version of the bill would cut Medicaid spending by $700 billion and slash the SNAP program by $300 billion, the largest reduction in the history of the two programs. The open letter calls on the Senate to refuse to pass the bill and start working on the budget from scratch. (Jin Shi)
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