Republicans moving ahead with Trump’s ‘big’ bill of tax breaks (2 Viewers)

[zztop]

Republicans moving ahead with Trump's 'big' bill of tax breaks and spending cuts amid tariff uproar

After a long wait, the Senate is launching action on President Donald Trump’s ”“big, beautiful bill” of tax breaks and spending cuts.

apnews.com

More than a month after House Republicans surprised Washington by advancing their framework for Trump’s $4.5 trillion in tax breaks and $2 trillion in spending cuts, Senate Republicans voted Thursday to start working on their version. The largely party-line vote, 52-48, sets the stage for a potential Senate all-nighter Friday spilling into the weekend.

 

[superchuck500]

The gaslighting is just so hardcore

 

[efil4]

The gaslighting is just so hardcore

the core supporters know little to nothing about Moodys.

so if they are repeatedly told the downgrade is based on current financials, then thats all they know. ( and believe )

If they were to take just FIVE minutes, they would find that Moodys rates based on forecasted ( future ) not solely current. So they would then have to reconcile what they are reading with what they are told, and they will defer to told because its their party. So will roll with that.

 

[efil4]

White House - "This bill doesn't add to the deficit".

and tariffs are paid by the country levied.

same shirt, different package.

 

[superchuck500]

1am?

 

[zztop]

CFPB ​

The legislation seeks to significantly limit funding for the Consumer Financial Protection Bureau (CFPB), which was established during the Obama administration in the aftermath of the 2008 financial crisis.

As part of its funding structure, the CFPB receives transfers from the Federal Reserve not exceeding a cap set at 12 percent of the Federal Reserve System’s total operating expenses. The GOP-crafted recommendations, if enacted, would significantly reduce the amount of funding the agency can receive from the central bank, setting that cap to 5 percent.

Democrats have hailed the CFPB as one of the most successful creations of the 2010 Dodd-Frank Wall Street reform law, praising its aggressive track record of enforcing consumer protection laws. But Republicans have long pressed for measures to rein in the agency, which they have argued has too much power and independence from Congress

 

[coldseat]

CFPB ​

The legislation seeks to significantly limit funding for the Consumer Financial Protection Bureau (CFPB), which was established during the Obama administration in the aftermath of the 2008 financial crisis.

As part of its funding structure, the CFPB receives transfers from the Federal Reserve not exceeding a cap set at 12 percent of the Federal Reserve System’s total operating expenses. The GOP-crafted recommendations, if enacted, would significantly reduce the amount of funding the agency can receive from the central bank, setting that cap to 5 percent.

Democrats have hailed the CFPB as one of the most successful creations of the 2010 Dodd-Frank Wall Street reform law, praising its aggressive track record of enforcing consumer protection laws. But Republicans have long pressed for measures to rein in the agency, which they have argued has too much power and independence from Congress

Republicans and their voters hate everything that investigates corruption of the private sector. Whether it's fleecing consumer, destroying the environment or cheating on taxes. They don't want any corruption of the private sector investigated. Or in the public sector when it comes to fellow Republicans.

 

[efil4]

Dont worry poor people - if this bill is passed the cuts will help you.

This is too Orwellian for me any longer. Holy cow.

 

[superchuck500]

I just can't

 

[zztop]

Gutting clean energy incentives

Trump's 'Big, Beautiful' bill will cause a US energy shortage – SEIA

The US solar industry warns that the House energy bill could cause an energy shortage by crushing clean energy growth, jobs, and investments.

electrek.co

The House bill also repeals the Section 25D residential solar tax credit, which has been a critical driver of solar adoption for middle-class families. Without it, installing solar gets way more expensive – and out of reach for many households.

As Electrek reported last week, solar and wind accounted for almost 98% of new US electrical generating capacity added in Q1 2025, according to new Federal Energy Regulatory Commission (FERC) data.

Solar and wind also made up an impressive 100% of new capacity in March, and March was the 19th consecutive month in which solar was the largest source of new capacity.

 

[MT15]

Gutting clean energy incentives

Trump's 'Big, Beautiful' bill will cause a US energy shortage – SEIA

The US solar industry warns that the House energy bill could cause an energy shortage by crushing clean energy growth, jobs, and investments.

electrek.co

The House bill also repeals the Section 25D residential solar tax credit, which has been a critical driver of solar adoption for middle-class families. Without it, installing solar gets way more expensive – and out of reach for many households.

As Electrek reported last week, solar and wind accounted for almost 98% of new US electrical generating capacity added in Q1 2025, according to new Federal Energy Regulatory Commission (FERC) data.

Solar and wind also made up an impressive 100% of new capacity in March, and March was the 19th consecutive month in which solar was the largest source of new capacity.

It just makes no sense to oppose these things.

 

[fooferdoggie]

Dont worry poor people - if this bill is passed the cuts will help you.

This is too Orwellian for me any longer. Holy cow.

I bet the orange Julius dictator actually thinks that

 

[zztop]

SALT (state and local tax) deduction:

Republicans and House Speaker Mike Johnson have come to an agreement to boost the state and local tax deduction to $40K, indicating that one of the last sticking points for President Donald Trump's massive tax cut bill has been resolved, according to media reports.

The $40K deduction cap is an increase from the $30K in the proposed bill and four times the $10K cap that's currently allowed.

"I think the SALT caucus, as they call themselves, it’s not everything they wanted, but I think they know what a huge improvement that is for their constituents, and it gives them a lot to go home and talk about," Johnson told CNN

 

[wardorican]

White House - "This bill doesn't add to the deficit".

It doesn't add to our deficit. It subtracts from our net income.....

 

[MT15]

It doesn't add to our deficit. It subtracts from our net income.....

I read it increases spending as well, so wouldn’t that be considered adding to the deficit?

 

[superchuck500]

The latest CBO score is deficit increase of $3.8T over 10 years.

And right on cue, MAGA says CBO is leftist

Budget office: Republicans’ megabill would give to the rich and take from the poor

If GOP officials are looking for good news in the Congressional Budget Office's new report on the party's reconciliation package, they won't find any.

www.msnbc.com

 

[UriUT]

I read it increases spending as well, so wouldn’t that be considered adding to the deficit?

Net income = revenue - costs.

Deficit is when net income is < 0; surplus is when net income > 0. Ultimately, it doesn't matter where the imbalance is coming from...we're in a deficit.

 

[Sendai]

The latest CBO score is deficit increase of $3.8T over 10 years.

And right on cue, MAGA says CBO is leftist

Budget office: Republicans’ megabill would give to the rich and take from the poor

If GOP officials are looking for good news in the Congressional Budget Office's new report on the party's reconciliation package, they won't find any.

www.msnbc.com

So, the budget deficit from 2021-2024 was $7.68 trillion.

Fiscal Data Explains the National Deficit

Check out @FiscalService Fiscal Data’s new national deficit page! #NationalDeficit

fiscaldata.treasury.gov

$3.8T over 10 years doesn’t seem so horrible.

 

[efil4]

So, the budget deficit from 2021-2024 was $7.68 trillion.

Fiscal Data Explains the National Deficit

Check out @FiscalService Fiscal Data’s new national deficit page! #NationalDeficit

fiscaldata.treasury.gov

$3.8T over 10 years doesn’t seem so horrible.

The reason its only 3.8T is because they are slashing Medicare and other programs for the poor.

Still doesn't seem horrible?