Federal Tax and Budget Policies
Health coverage as well as many of the key conditions that facilitate better health outcomes are inextricably linked to the economy, the federal budget and distribution of wealth in our nation’s two-tiered tax system. In every state in the nation, Medicaid and education are the biggest two budget line items. Both depend heavily on federal funding as do nutrition programs, public safety services, housing and many more programs and services that millions of Americans depend on every day. Often, health care policies are advanced through the federal budget process and so tax policies that may cut investments in healthcare or other services in order to shift more wealth to corporations and wealthy households. In fact, over the last two decades corporate taxes have fallen to historical lows and billionaires have increased their wealth in record-breaking proportions because of federal policies.
HCANEF believes that to build an economy that works for all of us—one where everyone has equitable access to affordable healthcare, good paying jobs, education, safety, and economic opportunity—policymakers must prioritize health care over wealth care. The wealthy and corporations must pay their fair share, the government must rein in corporate price-gouging and profiteering and investments in health, nutrition, jobs, and other key areas must keep up with the needs of a growing and aging nation.
Federal Budget
Taxing the Rich and Corporations
Nutrition and Food Security
Federal Budget
Fiscal Commission in the 118th Congress: There’s bipartisan support in the current Congress for a “fiscal commission” that would fast track cuts to key programs like Medicaid, Medicare, nutrition and even Social Security. Some GOP leaders say “everything is on the table” but are rejecting increased taxes for the rich and corporations as an alternative to cuts to programs millions depend on. Learn more:
Taxing the Rich and Corporations
The Tax Cuts and Jobs Act, President Trump’s signature achievement as President, added over $1 trillion to the national debt, cut corporate taxes to record low rates and benefitted primarily wealthier households. In fact, under the TJCA in 2020, the richest 1% received an average tax break of nearly $50,000 while middle income people received less than $800 in the same year. The Republican-controlled House of Representatives have named renewal of the Trump tax cuts, which are due to expire in 2025, a top priority for Congress even through renewing these cuts would add $288 billion to the national debt in just the first year.
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Nutrition and Food Security
For better health outcomes, investments in nutrition matter particularly for low income families that are struggling to afford groceries during high inflation and while the price of food stays stubbornly high. Research shows that only about 20% of health outcomes are directly linked to medical care. The remainder are determined by social determinants of health care (SDOH) that include basic conditions of living like homelessness, food insecurity, environmental pollution and patient behaviors. Nutrition programs like SNAP (Supplemental Nutrition Assistance Program) and WIC (Women, Infants and Children) have a proven track record of improving health outcomes and reducing health care costs down the line.
Latest Resources on Federal and Budget Policy
President Biden’s Top 10 Healthcare Victories of 2022
In 2022, President Biden and Congressional Democrats delivered on their promises by continuing to expand access to quality, affordable healthcare, and by making historic improvements to Medicare prescription drug coverage that will both lower prices and reduce...