Here come the GOP budget bills - with March 14 shutdown date approaching (7 Viewers)

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    superchuck500

    superchuck500

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    The GOP in both the House and Senate have released their budget resolutions. Both aim to produce $1.5T to $2T in tax cuts- while slashing spending.

    The Senate budget committee is hearing their resolution today and resolving over 200 proposed amendments.

    The House has released their budge resolution:

    - $4 Trillion debt-ceiling increase
    - Defund Medicaid entirely (effectively)
    - Reduce SNAP by 20%



    www.nbcnews.com

    House GOP releases budget calling for trillions in cuts to taxes and spending

    The blueprint conflicts with a Senate budget resolution, which doesn't address taxes or the debt ceiling. It also includes less funding than the Senate's for immigration enforcement.
    www.nbcnews.com www.nbcnews.com
     
    superchuck500 said:
    The GOP in both the House and Senate have released their budget resolutions. Both aim to produce $1.5T to $2T in tax cuts- while slashing spending.

    The Senate budget committee is hearing their resolution today and resolving over 200 proposed amendments.

    The House has released their budge resolution:

    - $4 Trillion debt-ceiling increase
    - Defund Medicaid entirely (effectively)
    - Reduce SNAP by 20%



    www.nbcnews.com

    House GOP releases budget calling for trillions in cuts to taxes and spending

    The blueprint conflicts with a Senate budget resolution, which doesn't address taxes or the debt ceiling. It also includes less funding than the Senate's for immigration enforcement.
    www.nbcnews.com www.nbcnews.com
    Click to expand...


    From the article:
    On immigration and border security funding, a top Trump priority, the resolution grants the Judiciary Committee, which oversees immigration policy, $110 billion.

    That's less than the Senate budget resolution, which grants the Judiciary Committee $175 billion for immigration enforcement
    Click to expand...

    The Judiciary Committees funding in 2024 was $8.7B
     
    superchuck500 said:
    The GOP in both the House and Senate have released their budget resolutions. Both aim to produce $1.5T to $2T in tax cuts- while slashing spending.

    The Senate budget committee is hearing their resolution today and resolving over 200 proposed amendments.

    The House has released their budge resolution:

    - $4 Trillion debt-ceiling increase
    - Defund Medicaid entirely (effectively)
    - Reduce SNAP by 20%



    www.nbcnews.com

    House GOP releases budget calling for trillions in cuts to taxes and spending

    The blueprint conflicts with a Senate budget resolution, which doesn't address taxes or the debt ceiling. It also includes less funding than the Senate's for immigration enforcement.
    www.nbcnews.com www.nbcnews.com
    Click to expand...
    I wish these folks were actually serious about reducing the deficit without causing real harm. Tax cuts to offset? I'm assuming that's so they can use reconciliation. Less spending, same or worse deficit.
     
    wardorican said:
    I wish these folks were actually serious about reducing the deficit without causing real harm. Tax cuts to offset? I'm assuming that's so they can use reconciliation. Less spending, same or worse deficit.
    Click to expand...

    That is precisely correct.

     
    superchuck500 said:
    The GOP in both the House and Senate have released their budget resolutions. Both aim to produce $1.5T to $2T in tax cuts- while slashing spending.

    The Senate budget committee is hearing their resolution today and resolving over 200 proposed amendments.

    The House has released their budge resolution:

    - $4 Trillion debt-ceiling increase
    - Defund Medicaid entirely (effectively)
    - Reduce SNAP by 20%



    www.nbcnews.com

    House GOP releases budget calling for trillions in cuts to taxes and spending

    The blueprint conflicts with a Senate budget resolution, which doesn't address taxes or the debt ceiling. It also includes less funding than the Senate's for immigration enforcement.
    www.nbcnews.com www.nbcnews.com
    Click to expand...
    What happened to the "no tax on Tips & OT"? :idunno:
     
    MT15 said:
    None of his tax promises will be enacted except for tax cuts for billionaires.

    He promised:

    No tax on tips, overtime, social security payments. None of those are in the budgets.
    Click to expand...

    A redo of the last time Trump's party had completely control.

    All of these conserative posters on the board making the noble sacrifice of their own interest to protect unborn babies, and billionaires. Truly god's own champions. LOL
     
    MT15 said:
    None of his tax promises will be enacted except for tax cuts for billionaires.

    He promised:

    No tax on tips, overtime, social security payments. None of those are in the budgets.
    Click to expand...
    Here are the House and Senate Budget Resolutions



    These are blueprints.

    The specifics on taxes are not included. They come about when the legislation is written.

    On page 39 of the House document there is a reference to “ lower taxes “

    Only mention of taxes in both documents
     
    Sendai said:
    Here are the House and Senate Budget Resolutions



    These are blueprints.

    The specifics on taxes are not included. They come about when the legislation is written.

    On page 39 of the House document there is a reference to “ lower taxes “

    Only mention of taxes in both documents
    Click to expand...
    Or to put it in a different, more understandable way

    Budget = What we would like to do

    Legislation = what we can actually do.

    The ambiguity is purposeful.
     
    efil4 said:
    Or to put it in a different, more understandable way

    Budget = What we would like to do

    Legislation = what we can actually do.

    The ambiguity is purposeful.
    Click to expand...
    Yup. And there is inevitably private sector profit in the opacity.
     
    Sendai said:
    Here’s a breakdown of the Tax priorities

    www.crfb.org

    Trump Tax Priorities Total $5 to $11 Trillion | Committee for a Responsible Federal Budget

    2025-02-06-In a closed-door meeting with House Leadership today President Trump reportedly outlined his tax priorities.
    www.crfb.org www.crfb.org

    Interesting that Carried Interest is on the chopping block.
    Click to expand...

    Finally, President Trump has reportedly called for closing the carried interest loophole and “eliminat[ing] tax breaks for billionaire sports team owners." Assuming the latter refers to ending the tax benefit for some or all Private Activity Bonds (which are sometimes used to finance some professional sports stadiums), these changes could raise between $20 and $100 billion over a decade – enough to cover 0.2 to 1.8 percent of the tax cuts he reportedly outlined.
    Click to expand...



    "assuming" and if true will cover .2 to 1.8% of the cuts- sooooooo where is the other 98.2%?

    Estimates are a REDUCTION in REVENUE for the US of between $5T to $11T over 10 years. So roughly $500B to $1T per year LESS REVENUE.

    We are living in the Bizzaro World rn.
     
    Sendai said:
    Here’s a breakdown of the Tax priorities

    www.crfb.org

    Trump Tax Priorities Total $5 to $11 Trillion | Committee for a Responsible Federal Budget

    2025-02-06-In a closed-door meeting with House Leadership today President Trump reportedly outlined his tax priorities.
    www.crfb.org www.crfb.org

    Interesting that Carried Interest is on the chopping block.
    Click to expand...

    "Based on modifying our previous estimates of a $5.5 trillion package, this proposal could boost interest costs by $1.2 to $2.7 trillion over the next decade, driving annual net interest payments to record highs and risking a serious debt spiral."

    Something you always want to hear with regard to a budget proposal. These people are trying to turn us into Greece circa 2010 so that they can enact their austerity measures. And the people of this country voted for this. SMH!
     
    efil4 said:
    "assuming" and if true will cover .2 to 1.8% of the cuts- sooooooo where is the other 98.2%?

    Estimates are a REDUCTION in REVENUE for the US of between $5T to $11T over 10 years. So roughly $500B to $1T per year LESS REVENUE.

    We are living in the Bizzaro World rn.
    Click to expand...
    You forgot to mention that would take our debt up to 132%-149% of the GDP.
     
    efil4 said:
    "assuming" and if true will cover .2 to 1.8% of the cuts- sooooooo where is the other 98.2%?

    Estimates are a REDUCTION in REVENUE for the US of between $5T to $11T over 10 years. So roughly $500B to $1T per year LESS REVENUE.

    We are living in the Bizzaro World rn.
    Click to expand...

    He's still super bitter about not getting an NFL team. What a petty, childish little man he is.
     

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