Covid relief bill may trigger $36 billion cut to Medicare, higher student loan fees
2021-03-01
Herewith, two facts and an assumption.
[CNBC]
A $1.9 trillion Covid relief bill backed by Democrats may trigger billions of dollars in cuts to Medicare and other federal programs, like ones supporting student loan borrowers.
Republicans are using the automatic cuts — caused by a law called PAYGO — to argue against the pandemic stimulus.
Congress can, and likely would, override those cuts, according to budget experts.