U.S. Budget Negotiations

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“… Those combined tariffs would raise less than a third of the estimated $4.6 trillion cost of extending Trump’s tax cuts over the next 10 years — if the import duties continued for a full decade. …”
 
Be realistic, taxes have to be raised on the top earners and corporations in order to balance the budget.
 
This upcoming budget negotiation is perhaps the only true way that Democrats can wield any meaningful power for the time being. The Republicans are so fractious that they're going to need Democratic votes in order to get the budget passed. They don't have the votes to get anything passed otherwise. Not one single Democrat should vote to help the GOP until or unless this insane unconstitutional crime spree by Musk and "DOGE" is halted.
 

Hard-liner rebellion forces House GOP leaders to scramble for deeper cuts​

Budget Committee conservatives rejected the minimum targets outlined at last week’s Republican retreat.

“… Key hard-liners and others on the Budget panel are pushing to outline at least $1 trillion in spending cuts in the blueprint that the committee is supposed to debate this week, according to three people familiar with the private discussions who were granted anonymity to describe them.


That initial blueprint included more than $300 billion in spending cuts but added $325 billion in new spending for defense, border security and deportation operations. Johnson argued Republicans could add more cuts later but needed to quickly advance the budget resolution to keep the sweeping domestic policy package on track.

Republicans on both sides of the Capitol need to agree on a budget resolution before they can move forward on their desired energy, border and tax bill through the party-line reconciliation process. …”

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In other words, the proposed budget was net zero at best (and that is because they are pretending that extending expiring gas cuts doesn’t count), and hard liners want an additional trillion in cuts.
 
Anyway, sounds like Johnson's lying again (or deeply uninformed), per usual

“… The speaker weighed in as anxieties are spiking about the coming March 14 deadlinefor extending government funding. Democrats have grown wary about cutting a deal with Republicans as President Donald Trump and his ally Elon Musk move swiftly to unilaterally cut agency funding

Top appropriators have been negotiating in recent weeks about a top-line spending number — a necessary first step toward passing funding for the remainder of fiscal 2025. The chair of the House Appropriations Committee, in fact, said Thursday night — contra Johnson — that those talks are ongoing.

"We are actively exchanging proposals," Rep. Tom Cole (R-Okla.) said. "You know, we are exchanging things back and forth."

The top Democrat on the panel, Rep. Rosa DeLauro (D-Conn.), said much the same Friday after Johnson spoke: "The speaker is mistaken. No one has walked away from the table. We sent them an offer yesterday. He should give Chairman Cole a call for a status update." …”
 
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Democrats should be completely unresponsive. They wield the power in this very specific instance. They should be completely unresponsive until or unless the Republican majority in Congress reaches down, remembers that they have balls to grab, and puts an end to unelected President Musk running roughshod over them.
 

Trump Tax Priorities Total $5 to $11 Trillion​




In a closed-door meeting with House Leadership today President Trump reportedly outlined his tax priorities. According to press reports, they included extending the expiring pieces of the 2017 Tax Cuts and Jobs Act (TCJA); expanding the State and Local Tax (SALT) deduction; enacting tax breaks for goods made in America; cutting taxes on income from tips, overtime pay, and Social Security benefits; and eliminating tax breaks for carried interest and stadium owners.

Depending on the details of these proposals, our rough estimate is that a package of this nature would:

  • Reduce revenue by $5.0 trillion to $11.2 trillion over ten years.
  • Lower revenue by 1.3 to 3.0 percent of Gross Domestic Product (GDP).
  • Boost debt to between 132 and 149 percent of GDP by 2035, if not offset, compared to nearly 100 percent today and 118 percent under current law.
Such a package could also lead to significant income shiftingand tax avoidance, weaken the Medicare and possibly Social Security trust funds, dramatically boost interest costs, and increase the risk of a debt spiral. …”

 
This upcoming budget negotiation is perhaps the only true way that Democrats can wield any meaningful power for the time being. The Republicans are so fractious that they're going to need Democratic votes in order to get the budget passed. They don't have the votes to get anything passed otherwise. Not one single Democrat should vote to help the GOP until or unless this insane unconstitutional crime spree by Musk and "DOGE" is halted.
Agree, but the Pubs won't do that. I think the odds of avoiding a shutdown, and maybe a prolonged one, are slim.
 

Trump Tax Priorities Total $5 to $11 Trillion​




In a closed-door meeting with House Leadership today President Trump reportedly outlined his tax priorities. According to press reports, they included extending the expiring pieces of the 2017 Tax Cuts and Jobs Act (TCJA); expanding the State and Local Tax (SALT) deduction; enacting tax breaks for goods made in America; cutting taxes on income from tips, overtime pay, and Social Security benefits; and eliminating tax breaks for carried interest and stadium owners.

Depending on the details of these proposals, our rough estimate is that a package of this nature would:

  • Reduce revenue by $5.0 trillion to $11.2 trillion over ten years.
  • Lower revenue by 1.3 to 3.0 percent of Gross Domestic Product (GDP).
  • Boost debt to between 132 and 149 percent of GDP by 2035, if not offset, compared to nearly 100 percent today and 118 percent under current law.
Such a package could also lead to significant income shiftingand tax avoidance, weaken the Medicare and possibly Social Security trust funds, dramatically boost interest costs, and increase the risk of a debt spiral. …”


What was he saying this morning about balanced budgets?
 
Agree, but the Pubs won't do that. I think the odds of avoiding a shutdown, and maybe a prolonged one, are slim.
Agree with you, unfortunately. It doesn't look promising, that's for sure. If that happens, my goodness, if there isn't a blue wave in the midterms, the Democratic Party might truly not have a pulse. It's going to get really ugly really quickly for a lot of everyday Americans, I'm afraid.
 
Whole lots of MeeMaw's and PawPaw's out there who subsist on a whole lot of "GUBMENT" are about to find out the hard way who gets to pay for all of these billionaires to have an extra yacht or three.
 
Agree with you, unfortunately. It doesn't look promising, that's for sure. If that happens, my goodness, if there isn't a blue wave in the midterms, the Democratic Party might truly not have a pulse. It's going to get really ugly really quickly for a lot of everyday Americans, I'm afraid.
This is what you get when you vote for the party that openly campaigned on burning everything to the ground, and then brought in the guy who destroyed Twitter to do it.
 
Surely any moment now, since our Great Trans National Nightmare has ended, we will start hearing from our "BUT MAH FISCAL CONSERVATISM" Trump voters who can explain to us morons why their guy's proposal of slashing revenue-generation while spending like a drunken sailor is going to make America great again. It's been a little while since I took ECON 101 with Ralph Byrns at UNC but I *think* I remember enough to know that....that's not how you fiscally conserve!
 
Surely any moment now, since our Great Trans National Nightmare has ended, we will start hearing from our "BUT MAH FISCAL CONSERVATISM" Trump voters who can explain to us morons why their guy's proposal of slashing revenue-generation while spending like a drunken sailor is going to make America great again!
Maybe the board conservatives have all been rounded up and shipped off to Gitmo?
 
Do they perform those high-falutin' taxpayer-funded sex change surgeries there?
Of course not, but if you make at least five posts per day about how GURLZ SPORTZ are being RUINT by the ten or so transgender athletes across the country, they give you an extra helping of Mississippi Mud Pie for dessert.
 
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