House GOP Budget Picture Starts to Develop: Increased Overall Spending & CBO est. ~$2,400,000,000,000 in Additional Debt

[essentialsaltes]

Trump megabill on thin ice ahead of key vote​

The possible delay comes after a wave of hardliners on the panel — Reps. Chip Roy(R-Texas), Ralph Norman(R-S.C.), and Rep. Andrew Clyde (R-Ga.) — said they planned to vote against advancing the GOP’s megabill in its current form in a meeting scheduled for Friday.

The defections would be enough to stop it from moving forward, and several other hardline conservative members on the panel also said they were undecided or expressed reservations about the bill.

The Budget Committee is the next stop for the legislation — officially titled the “One Big Beautiful Bill Act”

[I want off this planet]

Twenty-one Republicans and 16 Democrats sit on the Budget Committee, which is where the 11 components of the party’s “big, beautiful bill” will be merged into one package. Rep. Brandon Gill (R-Texas), however, is expected to miss the vote because he is at home for the birth of his first son, meaning opposition from Roy, Norman, and Clyde is more than enough to block the measure if all Democrats are present.

 

[iluvatar5150]

Trump megabill on thin ice ahead of key vote​

The possible delay comes after a wave of hardliners on the panel — Reps. Chip Roy(R-Texas), Ralph Norman(R-S.C.), and Rep. Andrew Clyde (R-Ga.) — said they planned to vote against advancing the GOP’s megabill in its current form in a meeting scheduled for Friday.

The defections would be enough to stop it from moving forward, and several other hardline conservative members on the panel also said they were undecided or expressed reservations about the bill.

The Budget Committee is the next stop for the legislation — officially titled the “One Big Beautiful Bill Act”

[I want off this planet]

Twenty-one Republicans and 16 Democrats sit on the Budget Committee, which is where the 11 components of the party’s “big, beautiful bill” will be merged into one package. Rep. Brandon Gill (R-Texas), however, is expected to miss the vote because he is at home for the birth of his first son, meaning opposition from Roy, Norman, and Clyde is more than enough to block the measure if all Democrats are present.

It's nice to see that at least some Republicans still have spines. Perhaps they could try to use them more frequently.

 

[Hans Blaster]

It's nice to see that at least some Republicans still have spines. Perhaps they could try to use them more frequently.

They want more/earlier cuts to Medicaid, etc.

 

[JosephZ]

House Budget Committee rejects Trump agenda bill in major setback for GOP leaders

The GOP-led House Budget Committee voted to reject a sweeping package for President Donald Trump's agenda on Friday, dealing an embarrassing setback for Republican leaders.

The vote in the Budget Committee was 16-21, with five conservative hard-liners joining all Democrats in voting against the multitrillion-dollar legislation. After the vote tally was read, Rep. Jodey Arrington, R-Texas, the committee chair, adjourned the hearing and told members they would not be meeting again this weekend.

Negotiations with the GOP holdouts will continue in the coming days and Republicans on the panel will try to regroup as soon as Monday.

Republican leaders concede the massive bill isn't ready for prime time, and that critical changes will need to be made in the coming days to tax and Medicaid provisions to win over recalcitrant members.

 

[essentialsaltes]

Trump megabill on thin ice ahead of key vote​

The Budget Committee is the next stop for the legislation — officially titled the “One Big Beautiful Bill Act”

One Big Beautiful Failure to pass committee

Vote on GOP mega-bill fails in House Budget Committee (16-21) -- a setback for Johnson, Trump​

Republican Reps. Andrew Clyde, Josh Brecheen, Lloyd Smucker, Ralph Norman and Chip Roy all voted against clearing the bill out of committee -- defying Trump and Speaker Mike Johnson. The group complained, in part, that the bulk of savings in the legislation don't take effect until after Trump leaves office.

 

[Say it aint so]

Is the "no taxes on tips" in the bill? No.
Is the "no taxes on overtime in the bill? No.
Is the "no taxes on social security" in the bill? No.
Is the Trump, yes, no, maybe so tax increase on the rich in the bill? No
Unlike what Trump and the Trump supporters in this very forum claimed, are there cuts to medicaid? Yes

So none of the things Trump said he would do are in the bill.
While what he said he won't do in cutting medicare, to his party doesn't go far enough.

But hey, look over there ----------> DEI, CRT, transgenders are using the bathroom and drag queens are reading books to kids.

 

[hedrick]

I'm 75. The apparent barriers to flu vaccine is a concern to me. Maybe also revised Covid.

Not only is the economy suffering, but our material death rate is going up, and it looks like life expectancy for older people is going to be an issue as well.

 

[essentialsaltes]

Republican Medicaid cuts could shutter rural hospitals, maternity care​

Republican Medicaid cuts could cause rural hospital closures, CEOs warn​

House Republicans have proposed an $880 billion reduction in Medicaid funding. Combined with other health care cuts, the package could leave as many as 8.6 million people uninsured, according to the Congressional Budget Office.

These cuts would land hardest upon rural hospitals, which are already teetering on the financial brink, executives say.

"The vast majority of our payers are governmental, whether that be Medicare or Medicaid, right?" Craig Thompson, CEO of Golden Valley Memorial Healthcare in Clinton, Mo., told HealthDay TV. "We're very concerned about discussions around reducing reimbursement and reducing payments to providers."

Thompson and Wightman said they're worried that important programs like maternity care might not survive the Medicaid cuts.

"For most rural hospitals in Missouri, the primary payer for those services is Medicaid, both for mom and for baby," Thompson said. "And it's already a stressed service line for all of us that are in rural Missouri to provide maternity services. And if we see further cuts to Medicaid and Medicaid reimbursement, I worry that additional maternity deserts will form across the state."

 

[essentialsaltes]

One Big Beautiful Failure to pass committee

Vote on GOP mega-bill fails in House Budget Committee (16-21) -- a setback for Johnson, Trump​

Republican Reps. Andrew Clyde, Josh Brecheen, Lloyd Smucker, Ralph Norman and Chip Roy all voted against clearing the bill out of committee

Trump's big bill advances in rare weekend vote, but conservatives demand more changes​

“The bill does not yet meet the moment,” said Rep. Chip Roy, R-Texas, a leader of the House Freedom Caucus, in a social media post immediately after the late-night session.

[He and 3 other GOP reps voted present, allowing it to move forward 17-16, but Roy's demurral doesn't hold much hope for the final vote, at least in this form.]

 

[essentialsaltes]

Top US House Republican Johnson tries to mend rifts on Trump tax cut bill​

WASHINGTON, May 21 (Reuters) - U.S. House of Representatives Speaker Mike Johnson acknowledged a vote by the full chamber on President Donald Trump'stax cut and spending bill may not occur on Wednesday as his Republicans remain divided over the sweeping legislation's details.
Johnson told reporters that negotiators had reached agreement on deductions for state and local taxes -- a major issue for Republican lawmakers from New York and California, who are critical to his narrow majority -- but hardliners continue to argue the bill does not sufficiently cut spending.

 

[Say it aint so]

Here’s What’s in the Big Domestic Policy Bill to Deliver Trump’s Agenda​

A large tax cut, as well as more money for defense and immigration enforcement, would be financed by slashing health, nutrition, education and clean energy programs.​

More "Boardwalk Empire" type tax cuts for corps whose tax rates are now lower than the average middle class American.
More money for the industrial military complex Eisenhower warned us about.
Financed by slashing programs those rich don't care about as it doesn't effect them. Who cares.

Say what you want about China, but they reinvest in their country while we invest in the ultra-wealthy, those CEOs, and endless wars where the cost of post 9/11 wars of choice were about 8 trillion.

 

[essentialsaltes]

Trump to meet with GOP holdouts as negotiations over agenda bill falter: Sources​

The meeting comes as GOP leaders scramble to advance the bill.

A last-minute White House meeting that sources tell ABC News is between President Donald Trump, Speaker Mike Johnson and House Republican holdouts on Wednesday afternoon comes as the "One Big, Beautiful Bill Act" appears to be in big, bad trouble.

Freedom Caucus Chairman Andy Harris said there is "no way" the "One Big Beautiful Bill Act" passes in the House Wednesday

"We're further away from a deal," Harris said on Newsmax Wednesday morning. "This bill actually got worse overnight. There is no way it passes today."

[In post 130, it looks like the moderates got their SALT cap lifted, but that obviously makes the deficit even worse, so the deficit hawks are probably right that the situation got worse for them and the nation's debt.]

 

[essentialsaltes]

When I started this thread, the number was at $2.5 trillion in debt. Of course that was based on some highly optimistic assumptions. But here's where we are now, as the Spirit of Math demands the GOP show its work.

Trump's $4 trillion deficit bomb​

Independent budget experts see that [the Administration's forecast] as laughable.

• The Joint Committee on Taxation projects the House reconciliation bill would increase deficits by $3.8 trillion through 2034.
• The Penn Wharton Budget Model projects deficits of almost $3.3 trillion, even when accounting for "positive economic dynamics."
• Moody's, which downgraded the U.S. credit rating on Friday, estimates that extending Trump's 2017 tax cuts alone — a central component of the bill — would add $4 trillion to the deficit over the next decade.

What they're saying: "This tax bill's enormity is being underplayed ... [It] will cost more than the 2017 tax cuts, the pandemic CARES Act, Biden's stimulus, and the Inflation Reduction Act combined," Jessica Riedl, a budget specialist at the conservative Manhattan Institute, told Yahoo Finance.

 

[essentialsaltes]

Trump to meet with GOP holdouts as negotiations over agenda bill falter: Sources​

Freedom Caucus Chairman Andy Harris said there is "no way" the "One Big Beautiful Bill Act" passes in the House Wednesday

"We're further away from a deal," Harris said on Newsmax Wednesday morning. "This bill actually got worse overnight. There is no way it passes today."

But early Thursday is another matter.

Republican-led House passes Trump agenda bill by a single vote​

During the final House vote, Republican lawmakers approached the speaker with congratulatory handshakes and back slaps. Someone also played Queen's "We Are The Champions" off a phone for about 10 seconds while the vote was underway.

Two House Republicans, Reps. Thomas Massie of Kentucky and Warren Davidson of Ohio, opposed the vote alongside the entire House Democratic Caucus. Rep. Andy Harris, the chairman of the House Freedom Caucus, voted present.

Medicaid: The start date for new Medicaid work requirements will now kick in "no later than December 31, 2026." The original bill had the work requirements starting in 2029.

There is also a new incentive for states to not expand Medicaid. [Indeed, I believe some states will automatically un-expand Medicaid when federal support drops, shifting the burden to the states.]

State and Local Tax Deductions: SALT deduction rises to $40,000 for incomes under $500,000. [A win for me, anyway.]

Maga Savings Account: The amendment changes the names of these accounts. Instead of MAGA Accounts, they will now be called "Trump" Accounts. [This is the $1,000 each giveaway to placate Big Baby [not a Trump reference [this time]]].

Ends tax on silencers: The manager's amendment delists silencers from the National Firearms Act, effectively ending a tax on transferring silencers.

 

[essentialsaltes]

House GOP unveils plan to raise debt limit by $4 trillion​

Sen. Paul Won't Support 'Big, Beautiful Bill'​

Paul said he told Senate leadership he cannot support "the big, beautiful bill" because it calls for raising the debt limit by $4 trillion over the next two years, The Hill reported.

"We've never, ever voted to raise the debt ceiling this much. It'll be a historic increase. I think it's not good for conservatives to be on record supporting a $4 or $5 trillion increase in the debt ceiling. If it's not conservative; I can't support it."

But Rand, the GOP is in charge! Debt doesn't matter anymore!

 

[essentialsaltes]

Does Trump support the House version or the Senate version of the budget?

Yes.

Trump Greenlights Senate Bill Overhaul, Jolting US House Speaker Johnson​

 

[essentialsaltes]

CBO says Trump's bill will add $2.4T to deficit, leave 11 million without health insurance​

The immigration and tax bill faces headwinds in the Republican-led Senate.

The CBO released new estimates on the legislation on Wednesday as focus turns to the Senate, where a handful of Republican members are expressing concerns about the deficit and changes to Medicaid.

Elon Musk privately (and publicly) expresses frustration on a range of recent moves by Trump administration​

On Tuesday, Musk took to X to lambaste the funding bill to advance Trump's legislative agenda, calling it a "disgusting abomination." He continued to attack the bill in a flurry of X posts Tuesday night into Wednesday morning.

"Mammoth spending bills are bankrupting America! ENOUGH," Musk wrote in one post.

 

[Say it aint so]

CBO says Trump's bill will add $2.4T to deficit, leave 11 million without health insurance​

The immigration and tax bill faces headwinds in the Republican-led Senate.

The CBO released new estimates on the legislation on Wednesday as focus turns to the Senate, where a handful of Republican members are expressing concerns about the deficit and changes to Medicaid.

Elon Musk privately (and publicly) expresses frustration on a range of recent moves by Trump administration​

On Tuesday, Musk took to X to lambaste the funding bill to advance Trump's legislative agenda, calling it a "disgusting abomination." He continued to attack the bill in a flurry of X posts Tuesday night into Wednesday morning.

"Mammoth spending bills are bankrupting America! ENOUGH," Musk wrote in one post.

Republicans Try to Discredit Experts Warning About the Cost of Tax Cuts​

President Trump and his allies have united around a new foe: the economists and budget experts who have warned about the costs of Republicans’ tax ambitions....​

​

...Most economists — from nonpartisan government watchdogs as well as outside tax analysts across the political spectrum — have concluded that the bill passed by House Republicans, which is now being considered by the Senate, could exacerbate the nation’s fiscal imbalance while contributing less in economic growth than Mr. Trump forecasts.​

​

But party leaders have rejected those assessments, choosing to present a rosier interpretation of their bill. They reserved their fiercest criticism for the Congressional Budget Office, a team of nonpartisan aides who helped to author the price check issued on Wednesday. Mr. Trump and his advisers have tried to paint budget office as historically inaccurate and overly political.​

​

​

 

[essentialsaltes]

Two House Republicans issue megabill threats as Senate ponders changes​

GOP Reps. Nick LaLota and Chip Roy said they’re “nos” if key provisions are touched.

Rep. Nick LaLota of New York warned GOP senators against lowering the House’s $40,000 cap on the state-and-local-tax deduction,

[which makes the deficit worse]

while Rep. Chip Roy of Texas vowed to oppose any attempt to delay or otherwise water down the phaseout of clean-energy tax credits provided for in the House-passed megabill.

[which makes the deficit better]

No Right Turn
No Left Turn
What can you do?