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

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The impact of the budget, tariff policy, and cuts to federal programs would lead to an outflow in domestic investment as wealthy investors look overseas, Washington State Treasurer Mike Pellicciotti said.

One of the key issues will be the impact on Medicaid, which could see $880 billion in cuts.

Some Democrats have suggested health care related reductions would cut spending by $715 billion.

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Article Details

Author / Journalist: Amanda Gerut

Category: EconomyBusiness

Markets: United States

Topics: Donald Trump Taxes Medicaid Investment strategy Investment Finance

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-05-13 @ 07:37:00 (15 hours ago)

News Timezone: GMT +8:00

News Source URL: fortune.com

Language: English

Article Length: 597 words

Reading Time: 4 minutes read

Sentences: 5 lines

Sentence Length: 120 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Fortune

News ID: 28666187

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Official Website: fortune.com

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News Last Updated: 8 hours ago

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