Showing posts with label reconciliation rules. Show all posts
Showing posts with label reconciliation rules. Show all posts

Monday, March 24, 2025

Ha ha ha, the budget framework House Republicans were so proud of passing in late February will have to be completely reworked in the Republican Senate, reconciliation bill won't move until the end of July

... “Thune and others have said they don’t think it’s realistic we’ll move the finished product until the end of July,” a Republican senator said of Thune’s projected timeline for moving Trump’s agenda.

“Thune said he thought that the House’s timeline on this was totally unrealistic and that the House doesn’t have their ducks in a row, and their budget resolution has to be completely reworked, and this idea that we do it by April or May is just ridiculous,” the source said. ...

Senate Budget Committee Chair Lindsey Graham (R-S.C.) said last month that the House-passed budget needed “a major overhaul” before it could pass the Senate. ...
 
More

The major areas of disagreement include switching to the so-called current policy baseline to get the cost of the package to zero, a complete fantasy; choosing which tax cuts, most of which are ad hoc and targeted and not broad-based, to include in the package; cutting future deficits by $880 billion as the House says it wants without cutting Medicaid funding; and goosing defense spending by $175 billion.
 
Just minor details like that.
 
 

Thursday, March 13, 2025

Republican Senator Mike Crapo is full of Orwellian crap, says extending the Trump tax cuts which increased deficits by $1.7 trillion won't keep increasing deficits


 

 If you're not changing the tax code, you're simply extending current policy—you are not increasing the deficit. The bottom line here is that it's a $4.3 trillion tax increase, not a $4.3 trillion deficit increase. 

-- Mike Crapo 

Most of the tax cuts passed by Republicans during President Donald Trump’s first term, in the Tax Cuts and Jobs Act of 2017 (TCJA), which raised deficits by $1.7tn, are set to expire at the end of 2025. ... Without new legislation, current law requires tax rates to return to their pre-TCJA levels. Maintaining the current policy would cost nearly $5tn in lost revenue over the next 10 years. 

-- Oren Cass

Passing economic legislation through the US Senate can by-pass the 60-vote rule if the legislation does not increase deficits beyond 10 years. 

The total public debt has ballooned by over $16 trillion under the Trump tax cuts.

Friday, February 28, 2025

If you thought the GOP pretending that Ukraine started the war with Russia was nuts, behold Senator Mike Crapo of Idaho who wants to pretend that Trump's 2017 tax law wasn't passed under reconciliation rules

 


 Honest to God, these people are clowns.

Republicans consider major budget change to obscure deficit impact of extending Trump’s tax cuts

... Extending the Tax Cuts and Jobs Act, which Trump signed into law in 2017, would cost $4.6 trillion over a decade, according to the Congressional Budget Office, the official nonpartisan scorekeeper.

That’s under the “current law” metric that has traditionally been used, as the tax cuts are slated to expire at the end of this year. But Senate Republicans want to use a different scoring method called the “current policy” baseline, which would assume that extending tax cuts costs $0 because they’re already law.

The chair of the tax-writing Senate Finance Committee, Sen. Mike Crapo, R-Idaho, endorsed the “current policy” approach, telling reporters that it “recognizes that extending current law does not change the tax policy, does not reduce tax revenue.”

Congressional GOP aides say the idea could have a huge impact on what they’re able to pass in the budget bill. If they use the current accounting process, they have no chance of making the 2017 tax cuts permanent, because that would require paying for it. And this process would also be key to unlocking Trump’s other tax proposals, like slashing taxes on tips and overtime pay. ...

Rep. Richard Neal, D-Mass., said it would set a “terrible” precedent if Republicans adopt that budgeting approach.

He said it would be a backdoor way to nuke the filibuster and take an anything-goes approach to the reconciliation process, which Congress can use once per fiscal year to evade the 60-vote rule in the Senate for changes to spending and taxes. The process imposes significant constraints, like needing to pay for long-term laws that add to the U.S. debt.

“My advice is: If they adopt that policy, we should advise the American people to forget about their credit card debt,” Neal said. “You wouldn’t have to analyze revenue and expenditure.” ...

The budget framework passed this week by the GOP House is guaranteed to raise the national debt by $19 trillion in 10 years, which means we'll be $60 trillion in the hole by 2035. 

All the shenanigans and pretending and make believe used over the years to get us to the current point of $36 trillion in debt, trotted out yet one more time aren't going to stop us from a date with $60 trillion in debt.

 

WE ARE NOT A SERIOUS COUNTRY.

Tuesday, May 2, 2017

Mark Levin lies again, says Obamacare was passed under reconciliation when it wasn't

As if it's germane anyway. Levin is just trying to appear to respect the tradition of the Senate.

Well, Harry Reid did away with that by going nuclear on appointments.

And Mitch McConnell went nuclear on Gorsuch.

Two blows to tradition right there.

Like tits, if you've seen one you might as well see the other.

So, Mitch just needs to keep going nuclear.

The Republican Senate should simply jettison the filibuster rule, and pass repeal with the clean Republican majority.

Trump's instincts on this are correct on spending, which means on Obamacare as well, and on every bill which might come the Senate's way.

Then we can focus our attention on Paul Ryan, who hides behind the Senate's filibuster rule like a little boy hides behind his mommy's skirts to restrain what he does in the House.