A public bank could help Washington State counter the damage from Donald Trump's ugly vulture budget

Donald Trump’s ugly vulture budget (H.R. 1) is one of the most aggressive and regressive rewritings of the federal tax code in decades, perhaps in more than a century.

According to the nonpartisan Congressional Budget Office, due to the massive cuts in essential services like Medicaid and SNAP (nutrition assistance), the income for households in America’s lowest bracket are expected to see a $1,600 decrease per year.

Meanwhile, thanks to the bill’s generous tax cuts, including making the 37% marginal tax rate from 2017’s tax scam bill permanent, increasing the exemption for the estate and gifts tax from $10 million to $15 million, and raising the state and local tax deduction cap to $40,000, the top bracket will see an average increase of $12,000 per year.

That’s not all. Funding for student loans and clean energy were also chopped.

https://www.nwprogressive.org/weblog/2025/08/a-public-bank-could-help-washington-state-counter-the-damage-from-donald-trumps-ugly-vulture-budget.html