President Donald Trump has pledged to double spending on Medicaid, Social Services and Medicare.
He also plans to cut back on taxes on the wealthy and close loopholes in the law.
The plan is part of a package of tax cuts aimed at creating a surplus by 2019, according to the White House.
The Trump administration has already proposed slashing taxes on millions of Americans, including corporations, by $1 trillion.
That’s more than the combined tax cuts for the next four years combined, and it would add to a federal deficit that already stands at $1.4 trillion, according the Congressional Budget Office.
The president has already made a number of other tax cuts, including a proposed one that would reduce corporate taxes to 15%.
The White House estimates that the $1-trillion tax cut would increase the deficit by $300 billion.
The savings are projected to be passed on to consumers, with the savings projected to total $3.5 billion.
Trump has also proposed cutting the corporate tax rate to 15%, but the Republican-controlled Congress has rejected the plan, and some economists say it could push companies to raise prices in order to offset the lost tax revenue.
The President’s proposal to cut spending on Social Security, Medicare and Medicaid is still being negotiated, but some experts believe the cuts could be as much as $1,200 per person, according an analysis from the Tax Policy Center, a nonpartisan think tank.
The cuts could come in phases, with Trump proposing a $100-per-month benefit for those in their 80s and 90s, or a $50-per month benefit for retirees in their 50s and 60s.
The CBO says the total cost of Trump’s plan could be $2,000 per person.
The proposal has not been finalized and could face strong opposition from Democrats and Republicans, according for example from Sen. Ron Wyden, D-Ore.
Trump will also cut spending for Planned Parenthood, according a senior administration official, and the health care provider receives about half of its funding from federal Medicaid.
The government provides health care to nearly one million low-income Americans.
The Affordable Care Act was passed under former President Barack Obama to provide health care for millions of people, including millions of low-wage workers.
A key goal of Trump has been to repeal and replace the law, but a number Democrats and Republican leaders have expressed concern that the Republican plan would undermine key elements of that legislation.