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Fortune
Fortune
Amanda Gerut

Democratic state treasurers rip GOP over budget bill — ‘taxing Barbies and G.I. Joes if you can even find them on store shelves’

Illinois State Treasurer Michael Frerichs talks with legislators on the House floor at the state Capitol in Springfield, Illinois, on Jan. 7, 2025. (Credit: Brian Cassella/Chicago Tribune/Tribune News Service via Getty Images)
  • House Republicans have released new details about the GOP tax plan, fueling debate about spending cuts that could impact Medicaid and other assistance programs. During a call on Monday, Democratic state officials roundly criticized the GOP budget bill, saying cuts to services would leave vulnerable adults and children struggling with unnecessary food insecurity and fewer resources to access medical care. 

Democratic state financial leaders are pushing back swiftly and loudly on the GOP budget bill as new details have emerged about tax provisions ahead of a Tuesday House committee meeting. The budget bill sets the overall federal spending agenda, including targets and spending cuts that will fund tax reductions. 

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