The Net $ Effect of Republicans' Reconciliation Bill

Climate scientist Peter Gleick shared a New York Times graphic that summarizes the financial effect of the Republican reconciliation bill the House passed a few days ago:

Here it is, in a clear graphic from the NYTimes. The GOP budget destruction bill will add $3.3 TRILLION to the national debt.

And how? Entirely by tax cuts to the rich, paid for by cutting health, food for the poor, climate science, and Medicaid:

Here's a gift link to the source of the chart. 

It's difficult for a non-tax professional to understand many of the changes listed as topline items. Here are a few things that I haven't heard mentioned much, if at all:

• Replace the planned IRS direct-file program with a public-private partnership to offer free tax filing.
• Terminate the tax-exempt status of organizations that “provided more than a minor amount of material support or resources to a listed terrorist organization.” Listed where? Let's guess who gets to make the list.
• Permanently eliminate the exclusion for qualified bicycle commuting reimbursement. We should be paying people to bike commute, since it saves money on road wear and tear, let alone larger effects.
  
• Impose a new excise tax on remittance transfers by those who are not U.S. citizens or U.S. nationals.
  
• Defund Planned Parenthood (e.g., no Medicaid payments for the medical services Planned Parenthood provides like mammograms and other women's health care).
• Cancel a regulation that required minimum staffing ratios for nursing homes. Who needs that?
• Cut $12 billion from air traffic control funding... seems like a good time to do that, right?

At the very end, under Other, is this bit of "savings" by way of public commons sell-off: "Require the government to identify and auction spectrum by 2034." That gets the bottom line figure of $88 billion for something we can never get back.

Similarly, the Natural Resources section lists "savings" that are all about selling public land or leasing mining or timber rights on public land.

Finally, be sure to read the list of climate efforts the bill will cancel. It's astonishing. No price tag is attached to many of the items: The Congressional Budget Office is declaring the financial effect of destroying the future is negligible. The ones they do assign a "savings" to are laughable, like saving $.4 billion by repealing part of the Clean Air Act and rescinding funds that help states and localities adopt zero-emission vehicles.

It's the same mentality as the DOGE savings, except CBO is supposed to know better. Savings on an annual budget is not the same as savings in the long term.