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Over the weekend, Sen. Bernie Sanders (I-Vt.) accused President Donald Trump and his allies of triggering the record-breaking government shutdown because they are funding tax breaks for billionaires while millions of Americans face skyrocketing healthcare costs.
Sanders took to social media to lay blame for the ongoing federal government shutdown squarely on Trump and the wealthy elite.
In a video statement, Sanders said the shutdown was a direct result of Trump's "trillion dollars in tax breaks" for the top 1% including figures like Tesla Inc. (NASDAQ:TSLA) CEO Elon Musk and Amazon.com, Inc. (NASDAQ:AMZN) founder Jeff Bezos.
He warned that, to offset those tax cuts, Republicans are now "doubling premiums for over 20 million Americans" under the Affordable Care Act.
Sanders said that another 15 million people could lose Medicaid coverage next year.
“Trump and his friends gave a trillion dollars in tax breaks to the top 1%, Mr. Musk, Mr. Bezos and all these other billionaires,” Sanders said, adding, “That is what the shutdown is about,” while urging Democrats not to back down.
"We cannot allow that to happen. The Democrats must not cave."
On Saturday, President Trump has renewed his push to abolish the Affordable Care Act, proposing that funds now sent to insurance companies be redirected to individuals to buy their own plans.
The shutdown — now the longest in U.S. history — has caused over 1,000 flight cancellations and delays nationwide and disrupted Supplemental Nutrition Assistance Program benefits, leading to long lines at food banks in major cities.
Goldman Sachs economist Alec Phillips warned the standoff could shave more than a full percentage point off fourth-quarter U.S. economic growth, while Trump's approval rating has slipped to 41%, according to an Emerson College poll.
On Sunday night, the Senate plans to take a procedural step toward voting to reopen the federal government, raising cautious hopes of an end to the 40-day impasse.
According to Benzinga’s Edge Stock Rankings, Tesla maintains a solid upward momentum across short, medium and long-term periods. Click here for an in-depth comparison with its peers and competitors.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo Courtesy: Sheila Fitzgerald on Shutterstock.com
