Nobel Prize-winning economists publish an open letter criticizing the Trump tax reform bill.

Six Nobel laureates in economics recently published an open letter expressing concerns about the tens of trillions of dollars in tax cuts and spending cuts passed by House Republicans last month. Their main concerns are about the cuts to healthcare assistance programs and supplemental nutrition assistance programs, which they believe are crucial for American families. The House version of the bill would cut Medicaid spending by $700 billion and significantly reduce the SNAP program by $300 billion, marking the largest cuts to these programs in history. "These drastic cuts to the social safety net are intended to offset the massive tax cuts in the bill. But even so, it is still not enough to cover half of the tax cuts... Considering the increase in the U.S. debt caused by the bill and the losses it will impose on the bottom 40% of households, it is shocking." The open letter calls on the Senate to reject the bill and start over in crafting a budget.