House GOP Budget Picture Starts to Develop: Increased Overall Spending & ~$3,000,000,000,000 in Additional Debt

[iluvatar5150]

The latest plan would phase in for the 2028 fiscal year

of course it would

 

[rjs330]

SInce the GOP is going it alone and not trying to win over people from the other side of the aisle with the budget proposals, 'everyone' is the Congressional GOP.

I see. Which programs have the Democrats put forward to cut that the Republicans ignored?

 

[essentialsaltes]

I see. Which programs have the Democrats put forward to cut that the Republicans ignored?

The Democrats have not been invited to discuss the matter. But, if you're interested, you can look at Sen. Warren's plan.

Senator Warren offers to DOGE a list of suggested cuts totalling $2 trillion.

 

[rjs330]

The Democrats have not been invited to discuss the matter. But, if you're interested, you can look at Sen. Warren's plan.

Can't say I'm against many of those cost cutting measures. Ive thought for a long time that the private sector is screwing the DOD with costs.

 

[Hans Blaster]

I see. Which programs have the Democrats put forward to cut that the Republicans ignored?

Trump tax cuts.

 

[rjs330]

Trump tax cuts.

Hmm... I Don't consider that a spending program. But I guess you can if you want.

 

[Hans Blaster]

Hmm... I Don't consider that a spending program. But I guess you can if you want.

It has the same impact on the budget. Extending the tax cuts increases the budget deficit in the same that expanding Medicaid would. It works the same on the "Budget Scorecard" Congress is working with in their reconciliation package.

 

[rjs330]

It has the same impact on the budget. Extending the tax cuts increases the budget deficit in the same that expanding Medicaid would. It works the same on the "Budget Scorecard" Congress is working with in their reconciliation package.

I disagree.

 

[essentialsaltes]

Can Trump's tax cuts be made permanent? Tariffs, spending fights cloud the picture

With an unofficial deadline for House of Representatives passage of Trump's "one big beautiful bill" barely two weeks away, Republicans are voicing doubts about whether the provisions of the 2017 Tax Cuts and Jobs Act that are set to expire at year-end can be made permanent without ballooning the $36 trillion U.S. debt and $1.9 trillion annual deficit.

Party moderates are pushing back against large-scale cuts to the Medicaid healthcare program that would be necessary to achieve a goal of $2 trillion in offsetting spending cuts over the next decade, while hardliners are demanding that the tax cuts be scaled back if that number can't be met.

"To fully extend and build upon the 2017 tax cuts, this means that the reconciliation bill must include at least $2 trillion in verifiable savings either through spending reductions or scaling back the size of the tax package," 32 House Republican hardliners told party leaders in a letter on Wednesday.

Right or wrong, the fiscal hawks at least understand the math.

 

[iluvatar5150]

Can Trump's tax cuts be made permanent? Tariffs, spending fights cloud the picture

With an unofficial deadline for House of Representatives passage of Trump's "one big beautiful bill" barely two weeks away, Republicans are voicing doubts about whether the provisions of the 2017 Tax Cuts and Jobs Act that are set to expire at year-end can be made permanent without ballooning the $36 trillion U.S. debt and $1.9 trillion annual deficit.

Party moderates are pushing back against large-scale cuts to the Medicaid healthcare program that would be necessary to achieve a goal of $2 trillion in offsetting spending cuts over the next decade, while hardliners are demanding that the tax cuts be scaled back if that number can't be met.

"To fully extend and build upon the 2017 tax cuts, this means that the reconciliation bill must include at least $2 trillion in verifiable savings either through spending reductions or scaling back the size of the tax package," 32 House Republican hardliners told party leaders in a letter on Wednesday.

Right or wrong, the fiscal hawks at least understand the math.

If they accidentally bring back the home office deduction for all of us white collar WFH lefties, I would seriously consider changing my party affiliation.

 

[essentialsaltes]

GOP struggles with math and unity.

GOP fight over state and local tax deduction slows Trump’s ‘big, beautiful bill’​

House Speaker Mike Johnson (R-Louisiana) and a band of moderate Republican rebels are at loggerheads over how to handle changes to the state and local tax deduction, often called SALT. That provision allows individuals or married couples to subtract the amount they paid in state taxes from their federal tax bill, but it’s been capped at $10,000 - well below what many taxpayers owe, especially in high-cost-of-living areas - since 2017.

Johnson on Thursday floated tripling the deduction to $30,000, among other proposals still under discussion. [Now, personally, I think that would be just ducky. And that's how I discover I'm not quite in the 1% that contributes to 'moderate' Republicans. It looks like $30K would fit someone making $250,000 in taxable income with a million dollar (assessed) home.]

“Insulting,” LaLota told The Washington Post on Thursday evening. “A lowball offer that doesn’t reflect reality ... We’ve had multiple meetings with leadership, the committee and their staffs and have been quite clear that $30,000 wouldn’t do it for our constituents.”

[A nice wrinkle, just as the Trump tax cuts expire, so would the cap on the SALT tax.]

“We have the ultimate walkaway position,” LaLota said Thursday.

Trump urges Speaker Mike Johnson to raise taxes on the wealthy, adding new wrinkle to massive GOP bill​

President Donald Trump privately pressed House Speaker Mike Johnson, R-La., during a phone call Wednesday to add two additional proposals to the massive package for his agenda: one to raise the tax rate on the highest earners and the other to close the so-called carried interest loophole, according to a Republican leadership source, as well as two other GOP sources familiar with the call.

GOP leaders have resisted a tax increase on the wealthy, traditionally anathema within the party.

Trump also shot down the idea of increasing taxes on millionaires last month, saying it would be "disruptive."

“You’ll lose a lot of money if you do that,” he said at the time. “And other countries that have done it have lost a lot of people. They lose their wealthy people. That would be bad, because the wealthy people pay the tax.”

 

[essentialsaltes]

Republicans’ partial tax plan estimated to cost $5 trillion​

House Republicans released a partial text for the GOP tax bill on Friday and are expected to release the full text on Monday.

The cost far exceeds what is permitted by the budget resolution Republicans adopted earlier this year, which set the parameters for the massive package of tax cuts and extensions, energy policy and border security investments the party wants to pass in the coming weeks.

The House Republican-approved budget allows for $4.5 trillion in tax cuts — contingent on the GOP being able to find $2 trillion in spending cuts. [i.e. netting out to the additional $2.5 trillion of debt in the OP headline]

But this early, so-called skinny version of the tax bill is otherwise silent on President Donald Trump’s biggest tax priorities he touted on the campaign trail, like his proposal to eliminate taxes on tips. It also bears no mention of the expensive business provisions that Republicans want to restore.

The tax plan also doesn’t at this point include any mention of the state and local tax deduction prized by blue state Republicans in swing districts.

 

[rjs330]

Republicans’ partial tax plan estimated to cost $5 trillion​

House Republicans released a partial text for the GOP tax bill on Friday and are expected to release the full text on Monday.

The cost far exceeds what is permitted by the budget resolution Republicans adopted earlier this year, which set the parameters for the massive package of tax cuts and extensions, energy policy and border security investments the party wants to pass in the coming weeks.

The House Republican-approved budget allows for $4.5 trillion in tax cuts — contingent on the GOP being able to find $2 trillion in spending cuts. [i.e. netting out to the additional $2.5 trillion of debt in the OP headline]

But this early, so-called skinny version of the tax bill is otherwise silent on President Donald Trump’s biggest tax priorities he touted on the campaign trail, like his proposal to eliminate taxes on tips. It also bears no mention of the expensive business provisions that Republicans want to restore.

The tax plan also doesn’t at this point include any mention of the state and local tax deduction prized by blue state Republicans in swing districts.

Sounds like there is still work to be done.

 

[essentialsaltes]

Sounds like there is still work to be done.

Math is a harsh mistress. There is no working around it.

 

[essentialsaltes]

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

Treasury Department Secretary Scott Bessent is already calling on Congress to raise or suspend the debt ceiling by July to keep the federal government from defaulting on its more than $36 trillion debt.

In a letter to Speaker Mike Johnson (R-La.) on Friday, Bessent said there is“reasonable probability” the government’s “cash and extraordinary measures will be exhausted in August while Congress is scheduled to be in recess.”

While the House’s plans call for raising the debt limit by $4 trillion, the Senate’s instructions detail a $5 trillion increase to the debt ceiling.

Some Senate Republicans have argued the higher proposed figure would stave off the threat of default through the coming midterm elections. But not all Republicans were happy with the $5 trillion amount.

 

[essentialsaltes]

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

Coincidentally, the current form of the budget proposal will raise the debt by $3.7 trillion.

House works into the night as Republicans push ahead on Trump's big bill​

[The cost of extending the tax cuts and increasing them for tips, etc. is partly] offset by $1.9 trillion in savings largely from the rollback of green energy tax credits, for a net tally of $3.7 trillion in costs over the decade, according to the most recent estimates — along with billions more in savings from the safety net cuts

 

[essentialsaltes]

The House Agriculture Committee, which oversees the [SNAP/food stamps] program and is tasked with securing $230 billion in savings, is further behind schedule than most other panels, senior GOP leadership aides said.

America’s largest anti-hunger program could be transformed under proposals now being debated by congressional Republicans, with some of the costs for the safety-net program potentially pushed onto states for the first time.

GOP SNAP Plan Redefines Dependent Child as ‘Under 7’—But Adds Loophole for Married Couples​

Currently, an adult has a dependent child if that child is under 18 years of age. Under the new proposed House definition for SNAP, once that child turns seven—usually someone in second grade—they could no longer be considered a dependent, with one exception. [married couples where at least one parent meets the work requirements.]

The new bill refers to work requirements for “Able Bodied Adults Without Dependents,” or ABAWD.

The move also comes as states lower or remove protections for child workers.

Sorry, kid, now that you're 8, it's off to the mines, or you don't eat.

Newsweek maybe describes the situation more succinctly, and...

According to the Center for Budget and Policy Priorities (CBPP), there are some 3 million SNAP receiving adults who live with dependents who could be impacted by the definition change, as well as 4 million children aged between 7 and 17.

 

[essentialsaltes]

'What a joke': Republicans lock horns over Medicaid proposal​

Hardliners demand changes to Medicaid overhaul​

Several hardliners expressed deep concerns with the plan from the Energy and Commerce Committee, which completed a marathon 26-hour markup Wednesday afternoon, to overhaul Medicaid, which includes new work requirements that won't take effect until 2029 and imposes more frequent eligibility checks for beneficiaries.

"The proposal to stop waste, fraud, and abuse in Medicaid will do little to achieve that. The common-sense work requirement for able-bodied adults doesn't start for four years (into the next administration) and CAN BE WAIVED by any state for "hardship" that they determine (and they will). What a joke. The swamp is real." [and the swamp is inside the GOP!]

Georgia Rep. Rich McCormick took issue with the package at large.

"I don't think I'm a yes right now, but that shouldn't surprise anybody. We have several things to work out. There's got to be a minimum savings in this year. The reason I say this is because, if you give me a 10-year plan, tell me why that won't change next year," he said.

[Rep Burlison] "The reality is, we're $37 trillion in debt and we have a $2 trillion deficit. This is a math problem."

SALTy Republicans​

Republicans on the Ways and Means Committee advanced part of Trump's tax bill early Wednesday after a 17 1/2-hour markup, but the state and local tax deductions cap is still in limbo and threatens the entire package -- as several GOP lawmakers from states like New York and California object to the current proposal of a $30,000 deduction that is subject to a phaseout for those earning more than $400,000.

 

[Hans Blaster]

GOP SNAP Plan Redefines Dependent Child as ‘Under 7’—But Adds Loophole for Married Couples​

Currently, an adult has a dependent child if that child is under 18 years of age. Under the new proposed House definition for SNAP, once that child turns seven—usually someone in second grade—they could no longer be considered a dependent, with one exception. [married couples where at least one parent meets the work requirements.]

The new bill refers to work requirements for “Able Bodied Adults Without Dependents,” or ABAWD.

The move also comes as states lower or remove protections for child workers.

Sorry, kid, now that you're 8, it's off to the mines, or you don't eat.

Newsweek maybe describes the situation more succinctly, and...

According to the Center for Budget and Policy Priorities (CBPP), there are some 3 million SNAP receiving adults who live with dependents who could be impacted by the definition change, as well as 4 million children aged between 7 and 17.

As everyone knows, when children get larger, they don't need food anymore.

 

[essentialsaltes]

‘First time we were hearing of them’: The GOP megabill is packed with surprises for some Republicans​

The House Energy and Commerce Committee was 16 hours into a nearly 27-hour markup when it became clear that top Republicans on the panel weren’t clear on what key Medicaid provisions in the legislation they were actively debating would actually do.

Couple that with confusion from moderates over the committee’s complex and controversial proposal — including language to dramatically overhaul the popular health safety-net program with new work requirements and cost-sharing mandates — and it spells possible troubles ahead for the domestic policy megabill central to enacting President Donald Trump’s domestic agenda.

“There were some items in there that, it was the first time we were hearing of them,” GOP Rep. Ryan Mackenzie, who represents a competitive district in Pennsylvania he just flipped red, said in an interview.

Mackenzie is among a group of centrist Republicans not on the Energy and Commerce Committee —which advanced its portion of the bill Wednesday — taken by surprise by some elements of the panel’s Medicaid proposal. They have requested a meeting with GOP leadership to talk through some of their potential concerns about provisions dealing with Medicaid and the Supplemental Nutrition Assistance Program.

[Nonpartisan CBO says the Medicaid changes will lead to] 7.6 million people going uninsured

As it turns out, the legislation also would disqualify Americans from getting health insurance at lower costs through the Affordable Care Act marketplace [if they don't meet the Medicaid work requirements - because the bill won't save enough money if we kick these people off Medicaid, but they then get subsidized healthcare from Obamacare.]