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tax returns, White House, immediate impact, tax cuts, April
Transcript
When you look at this legislation and you look at what's coming out of the White House, what do you think the first impact will be? I think the first impact may be when people are starting to file their tax returns next April. The White House has argued that the tax cuts, the tax status remaining at the status quo will be the first immediate impact. People won't be seeing their taxes go up, as the White House has argued. But some of the early estimates is that people's tax returns could also increase as well going into April. Again, it's interesting, though, as you have talked about earlier in this hour, that some of the more controversial cuts to Medicaid, Medicare take place down the line after the 2026 midterm. So some of the really heavy impacts that people could be feeling are later down the line. But at least fiscally, that seems to be what the White House is suggesting people will benefit most from in the immediate term.
Transcript
00:00When you look at this legislation and you look at what's coming out of the White House,
00:04what do you think the first impact will be?
00:07I think the first impact may be when people are starting to file their tax returns next April.
00:12The White House has argued that the tax cuts, the tax status remaining at the status quo
00:19will be the first immediate impact. People won't be seeing their taxes go up, as the White House
00:23has argued. But some of the early estimates is that people's tax returns could also increase as
00:28well going into April. Again, it's interesting, though, as you have talked about earlier in this
00:33hour, that some of the more controversial cuts to Medicaid, Medicare take place down the line
00:38after the 2026 midterms. So some of the really heavy impacts that people could be feeling
00:43are later down the line. But at least fiscally, that seems to be what the White House is suggesting
00:48people will benefit most from in the immediate term.

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