Especially when you can't count on the neutrality of the messenger. The Republicans have led an assault on the media since the 1940s and have succeeding in destroying basically all past standards of journalistic principles.
Tariffs Catch-All
- Thread starter BubbaOtis
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It is a tax revenue that is controlled by the Treasury. It should be essentially commingled with all other tax revenues and applied in accordance with the budget. Any deviation from the budget/new spending should have to be approved by Congress
But this Congress has already capitulated on the President refusing to spend amounts allocated via a budget law passed by Congress and signed by POTUS, and SCOTUS has effectively sanctioned it by refusing to decide the relevant case before the fiscal year ends today, so there is little reason to believe that Congress will fight for its right to control executive initiated spending not authorized by Congress, especially if it benefits Red States or other GOP constituencies.
As a result, Trump likely has a free hand to do something like a farm bailout.That said, I am sure that a lot of folks in Congress want to vote for that, even if only to ratify something Trump sets in motion, to make sure they get their slice of political credit (and to use that to twist political arms in budget negotiations). It will be interesting to see if Trump delays another exercise of extra-Constitutional budget action to help the House get their other budget work done.
A government shutdown may change that calculus and motivate Trump to move forward with unilaterally declaring a farm bailout during a shutdown to score a political win.
In any event, I guess that $20 billion is the minimum for any payment to affected farmers since that is the size of the proposed bailout to Argentina?
A farm bailout will take years to undo Trump's damage. So I hardly doubt it will just be 20 billion. But thanks for the primer on how the budget revenue is supposed to work. I heard the idea somewhere that that's the reason Trump is so invested in tariffs. The thing is, I suspect in Trump's mind HE THINKS the tariff money is his.
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A member of the Trump administration has seemingly raised a red flag after China bought millions of tons of Argentinian soybeans, taking advantage of a financial lifeline the US Treasury Department said it plans to provide to Buenos Aires – all while American soybean farmers are struggling with a Chinese blockade of their crops.
A photo of Treasury Secretary Scott Bessent’s phone captured by the Associated Press shows a text from a contact named “BR,” presumed to be US Agriculture Secretary Brooke Rollins. The message linked to the X account of grain trader Ben Scholl, who has sounded the alarm on what Argentina’s massive bailout means for America’s soybean farmers.
“Just a heads up. I am getting more intel, but this is highly unfortunate. We bailed out Argentina yesterday and in return, the Argentine’s (sic) removed their export tariffs on grains, reducing their price to China at a time when we would normally be selling to China,” the message said.
“Soy prices are dropping further because of it. This gives China more leverage on us,” the message added. “On a plane but scott I can call you when I land.”
Administration officials did not respond to requests for comment.
A photo of Treasury Secretary Scott Bessent’s phone captured by the Associated Press shows a text from a contact named “BR,” presumed to be US Agriculture Secretary Brooke Rollins. The message linked to the X account of grain trader Ben Scholl, who has sounded the alarm on what Argentina’s massive bailout means for America’s soybean farmers.
“Just a heads up. I am getting more intel, but this is highly unfortunate. We bailed out Argentina yesterday and in return, the Argentine’s (sic) removed their export tariffs on grains, reducing their price to China at a time when we would normally be selling to China,” the message said.
“Soy prices are dropping further because of it. This gives China more leverage on us,” the message added. “On a plane but scott I can call you when I land.”
Administration officials did not respond to requests for comment.
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Again, I apologize for my poor economic sense, is a loss of $1.4 billion in sales bad for an industry?
www.reuters.com
Australian beef has replaced U.S. supply in China since President Donald Trump returned to the White House, funnelling hundreds of millions of dollars that have in previous years gone to the U.S. cattle industry into Australian pockets.
U.S. shipments to China, worth around $120 million a month, collapsed after Beijing in March allowed permits to expire at hundreds of American meat facilities and as Trump unleashed a tit-for-tat tariff war.
Under Trump, US cedes its share of China's beef market to Australia
Australian beef has replaced U.S. supply in China since President Donald Trump returned to the White House, funnelling hundreds of millions of dollars that have in previous years gone to the U.S. cattle industry into Australian pockets.
Australian beef has replaced U.S. supply in China since President Donald Trump returned to the White House, funnelling hundreds of millions of dollars that have in previous years gone to the U.S. cattle industry into Australian pockets.
U.S. shipments to China, worth around $120 million a month, collapsed after Beijing in March allowed permits to expire at hundreds of American meat facilities and as Trump unleashed a tit-for-tat tariff war.
superrific
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Keep destroying your reputation and good name, Bessent. You are going to go down in history as a mega-liar, fascist enabler and overall terrible person.
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Trump making plans to send billions in cash bailouts to farmers with taxpayer money
The president has also said he wants to use direct tariff revenue for the payments, but that could trigger a major fight in Congress.“The Trump administration is planning to roll out the first tranche of bailout payments for farmers in the coming weeks, likely using billions of dollars in funding from an internal USDA account, according to three people with direct knowledge of the matter.
But it won’t be enough: USDA’s Commodity Credit Corporation fund — which President Donald Trump previously tapped to provide $28 billion in farm aid during his first-term trade war with China — has just $4 billion left in the account. Trump officials, including those at the Treasury Department, are looking at how to tap tariff receipts or other funding to supplement the payments without triggering a messy fight in Congress.
The timing of the actual aid rollout is also tricky given that it’s unlikely to happen or even be possible during the ongoing government shutdown that’s shuttered vast swaths of the Agriculture Department.…”
lawtig02
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Ah, that old "Strategic Petroleum Reserve" for farmer bailouts has been bled dry on Trump's watch. I'm sure Pubs will be equally as outraged as they were for the actual SPR.
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Then tell me why China purchased TWICE as many soybeans under Biden as they did during Orange Shitlers first term? TWICE as many. TWICE. As in DOUBLE.
heelslegup
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Many say the R Congress does not stop Trump siince they are scared of him. May be somewhat true.
But by letting DJT do whatever he wishes policy-wise also has the convenient outcome of avoiding having to deal with the Senate fillibuster on many occasions.
Which then leaves everything with the Supreme Court to step in...
But by letting DJT do whatever he wishes policy-wise also has the convenient outcome of avoiding having to deal with the Senate fillibuster on many occasions.
Which then leaves everything with the Supreme Court to step in...
superrific
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"I think it appropriate to consider some of the fairness arguments . . . then along comes the government and tells one person: You don't have to pay your loan. Nobody's telling the person who is trying to set up the lawn service business that he doesn't have to pay his loan. He still does, even though his tax dollars are going to support" the bailout.
Said someone important. I seem to recall Ernst being very strongly in favor of that logic at the time.
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