Anonymous wrote:
Anonymous wrote:
Anonymous wrote:Breaking from the NYT:
Trump’s Policy Bill Could Add $2.4 Trillion to Debt, CBO Analysis Shows
The nonpartisan Congressional Budget Office said Wednesday that the broad Republican bill to cut taxes and slash some federal programs would add $2.4 trillion to the already soaring national debt over the next decade, in an analysis that was all but certain to inflame concerns that President Trump’s domestic agenda would lead to excessive government borrowing.
The Senate will (probably) abide by the Byrd rule. More importantly, isn't reconciliation supposed to be revenue neutral? Doesn't this kill a lot of the Big Beautiful Bill?
Yes. The senate will have to remove the portions of the bill that are not revenue neutral and send it back to the house. The House will have to vote all over again for what is left after the Senate chip it to pieces. There are at least four senators, McConnell, Johnson, Murkowski, and Paul, who have issues with the bill as it stands
No, the Senate will overrule the parliamentarian and score it with the tax cuts as revenue neutral. In other words, they will keep the existing tax rates, rather than raise them.
Biden's budgets did not repeal Trump's tax cuts, but no one said he was raising the deficit because of it.