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Trump and GOP leaders discuss using tariffs to “pay”* for agenda​



“GOP leaders and President Donald Trump are strategizing over how to incorporate revenue from new tariffs in their massive party-line domestic policy bill, with the goal of arguing the multitrillion-dollar legislation doesn’t add to the national debt.

Speaker Mike Johnson, Senate Majority Leader John Thune and other senior Republicans discussed the topic during their White House meeting Wednesday, according to two people familiar with the meeting.

Republicans are still planning to keep the tariffs outside the final reconciliation package. But the group discussed how to score and eventually count the revenue as part of their plans for a deficit-neutral bill.

Hours after the White House meeting, Trump announced that tariffs against Canada, Mexico and China would go into effect next month.

GOP leaders don’t have the votes to actually incorporate the tariffs into the massive Trump agenda bill. The politically sensitive topic would spark a messy internal GOP war between the free-trade and America First factions of the party that could derail the entire package, which is already rife with other sticky issues. …”

——

* I added the quotes in the headline since they are not discussing paying for them but more accounting hocus pocus.
 
BlueSmoke said:
I believe Trump claimed that if 10 million foreigners take advantage of his gold card offer that it would payoff the national debt. Humm. Better watch the accounting that's coming.

I suspect he is going to go ahead and book the gold card income in budget negotiations, so he can get the deficit budget he wants. There is just no end to his creativity when it comes to corruption and unethical ways. I'll give him that.
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So I just read that this program will replace the EB5 program which requires individuals to invest $1MM (not pay the gov) and employ at least 10 Americans. That program, with its much lower threshold, approves about 10,000 applicants per year.

Also saw a blurb that there's only about a million individuals worldwide that have more than $5MM in liquid assets...and obviously, not all of them are going to enter this program.
 
CRHeel94 said:
Also saw a blurb that there's only about a million individuals worldwide that have more than $5MM in liquid assets...and obviously, not all of them are going to enter this program.
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That seems incredibly low
 
farce© said:
That seems incredibly low
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It does, but I'm guessing that it excludes Americans (given the context) and "liquid assets" is doing a fair amount of work there. I would double check the source for sure, but when you add the liquid qualifier it's maybe not absurd.
 


“…
Opinion is hardening among Democrats that Congress must pass measures to compel Trump to spend money on federal programs as designated by lawmakers—to put guardrails on his unilateral efforts to reshape the federal bureaucracy and reclaim, as they say, their constitutional power of the purse.

Some are insisting that these requirements be written into must-pass legislation needed to fund the government after March 14, raising the prospect that Democrats—if they stick to their demands—could withhold the votes that Republican leaders have typically needed in recent years to pass such spending bills. That would set the government on course for its first shutdown since 2019.

… Republicans say there is no way they can agree.

“We’re not going to shackle the president of the United States—can’t do it,” said House Appropriations Committee Chairman Tom Cole (R., Okla.). “We’re not going to do that to a Republican president and we never tried to do it to a Democratic president.”

… The Constitution assigns to Congress the power to levy tariffs, and some lawmakers within both parties say they have gone too far in delegating that authority to the president. Separately, a handful of lawmakers within each party want to scale back laws that give the president enhanced powers during emergencies, which Trump has cited in some of his actions regarding energy production, tariffs and immigration. …”
 
Musk talking out of his ass (in support of using new measurements to figure out a way to pass massive spending cuts but tax cuts twice as large that will create $2 trillion/year deficits for a decade):



His tweet gets a community note:


IMG_5295.jpeg
 
nycfan said:
Musk talking out of his ass (in support of using new measurements to figure out a way to pass massive spending cuts but tax cuts twice as large that will create $2 trillion/year deficits for a decade):



His tweet gets a community note:


IMG_5295.jpeg
Click to expand...

 
BlueSmoke said:
I believe Trump claimed that if 10 million foreigners take advantage of his gold card offer that it would payoff the national debt. Humm. Better watch the accounting that's coming.

I suspect he is going to go ahead and book the gold card income in budget negotiations, so he can get the deficit budget he wants. There is just no end to his creativity when it comes to corruption and unethical ways. I'll give him that.
Click to expand...

Grifter in Chief.
 
nycfan said:


“…
Opinion is hardening among Democrats that Congress must pass measures to compel Trump to spend money on federal programs as designated by lawmakers—to put guardrails on his unilateral efforts to reshape the federal bureaucracy and reclaim, as they say, their constitutional power of the purse.

Some are insisting that these requirements be written into must-pass legislation needed to fund the government after March 14, raising the prospect that Democrats—if they stick to their demands—could withhold the votes that Republican leaders have typically needed in recent years to pass such spending bills. That would set the government on course for its first shutdown since 2019.

… Republicans say there is no way they can agree.

“We’re not going to shackle the president of the United States—can’t do it,” said House Appropriations Committee Chairman Tom Cole (R., Okla.). “We’re not going to do that to a Republican president and we never tried to do it to a Democratic president.”

… The Constitution assigns to Congress the power to levy tariffs, and some lawmakers within both parties say they have gone too far in delegating that authority to the president. Separately, a handful of lawmakers within each party want to scale back laws that give the president enhanced powers during emergencies, which Trump has cited in some of his actions regarding energy production, tariffs and immigration. …”
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The whole point of getting any Democratic votes should be to put some ironclad guardrails on Trump. Period.
 


GIFT LINK 🎁 —> https://www.wsj.com/politics/republ...14?st=PG8AAk&reflink=mobilewebshare_permalink

“… Republicans are readying an untested and aggressive move—a blatant gimmick, critics say—that would declare that Congress can extend expiring tax cuts and record no costs. House Republicans didn’t attempt the maneuver in the budget they passed this week. Key GOP senators are eager to try it.

… The idea—known by the lovely Washington name of “current-policy baseline”—has two main advantages for Republicans.

First, it makes a $4 trillion tax cut over a decade look like $0, which could be easier to sell to lawmakers and voters. Second, in the arcane Senate budget procedure world, declaring tax-cut extensions free opens Republicans’ easiest path to making President Trump’s expiring tax cuts permanent.

… The reaction from Democrats, budget experts and a handful of Republicans has been withering. Rep. David Schweikert (R., Ariz.) has described the idea as a fraud and its proponents as lazy and intellectual scammers.

“Am I giving you enough inflammatory language?” he said. “I can actually go much further.”

Here’s the thing: Whether or not Republicans assume tax cuts have no cost, the endpoint of extending tax cuts would be the same when revenue and spending are tallied over the next few years. Assuming tax-cut extensions are free means acknowledging that today’s official debt projections are too low.

… Republicans find themselves here because of choices they made in 2017.

… Republicans capped their 2017 tax cuts at $1.5 trillion over 10 years and followed the requirement that reconciliation bills can’t add to deficits beyond the budget window.

To hit those targets, they scheduled core provisions—including individual tax rate cuts, a higher standard deduction and a larger child tax credit—to expire after 2025.

… They made a calculated bet that a future Congress would extend popular tax breaks. They are now that future Congress, regaining full control in last year’s elections and trying again to use reconciliation for tax cuts.

The House plan uses the standard, consistent accounting approach called the current-law baseline. Because tax cuts aren’t on the books after 2025, official projections show revenue rising and deficits shrinking; changing that shows up as a revenue loss.

The House plan includes spending cuts and allocates $4 trillion to $4.5 trillion for tax cuts, roughly enough for a 10-year extension of the expiring tax cuts. They would, however, have a hard time making cuts permanent or including ideas like a higher cap on state and local tax deductions and Trump promises like “no tax on tips.”

Senators say, “Wait, these tax cuts have existed for eight years, and Congress shouldn’t consider extensions a cost.” They haven’t settled on exact procedures and mechanics, but they want to use the current-policy baseline so that only new proposals would carry costs.

House Speaker Mike Johnson (R., La.) supports the idea.

“That’s a really important principle and I hope that we can employ that,” he told reporters last week. “It makes a big difference on the calculations and I think it also makes good logical sense.” …”
 
nycfan said:


GIFT LINK 🎁 —> https://www.wsj.com/politics/republ...14?st=PG8AAk&reflink=mobilewebshare_permalink

“… Republicans are readying an untested and aggressive move—a blatant gimmick, critics say—that would declare that Congress can extend expiring tax cuts and record no costs. House Republicans didn’t attempt the maneuver in the budget they passed this week. Key GOP senators are eager to try it.

… The idea—known by the lovely Washington name of “current-policy baseline”—has two main advantages for Republicans.

First, it makes a $4 trillion tax cut over a decade look like $0, which could be easier to sell to lawmakers and voters. Second, in the arcane Senate budget procedure world, declaring tax-cut extensions free opens Republicans’ easiest path to making President Trump’s expiring tax cuts permanent.

… The reaction from Democrats, budget experts and a handful of Republicans has been withering. Rep. David Schweikert (R., Ariz.) has described the idea as a fraud and its proponents as lazy and intellectual scammers.

“Am I giving you enough inflammatory language?” he said. “I can actually go much further.”

Here’s the thing: Whether or not Republicans assume tax cuts have no cost, the endpoint of extending tax cuts would be the same when revenue and spending are tallied over the next few years. Assuming tax-cut extensions are free means acknowledging that today’s official debt projections are too low.

… Republicans find themselves here because of choices they made in 2017.

… Republicans capped their 2017 tax cuts at $1.5 trillion over 10 years and followed the requirement that reconciliation bills can’t add to deficits beyond the budget window.

To hit those targets, they scheduled core provisions—including individual tax rate cuts, a higher standard deduction and a larger child tax credit—to expire after 2025.

… They made a calculated bet that a future Congress would extend popular tax breaks. They are now that future Congress, regaining full control in last year’s elections and trying again to use reconciliation for tax cuts.

The House plan uses the standard, consistent accounting approach called the current-law baseline. Because tax cuts aren’t on the books after 2025, official projections show revenue rising and deficits shrinking; changing that shows up as a revenue loss.

The House plan includes spending cuts and allocates $4 trillion to $4.5 trillion for tax cuts, roughly enough for a 10-year extension of the expiring tax cuts. They would, however, have a hard time making cuts permanent or including ideas like a higher cap on state and local tax deductions and Trump promises like “no tax on tips.”

Senators say, “Wait, these tax cuts have existed for eight years, and Congress shouldn’t consider extensions a cost.” They haven’t settled on exact procedures and mechanics, but they want to use the current-policy baseline so that only new proposals would carry costs.

House Speaker Mike Johnson (R., La.) supports the idea.

“That’s a really important principle and I hope that we can employ that,” he told reporters last week. “It makes a big difference on the calculations and I think it also makes good logical sense.” …”
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I think this is the magical thinking Trump is urging with his hilarious (if the issue wasn’t so serious) let’s balance the budget posts. Just declare the tax cuts free and declare the budget balanced!

Black Magic GIF
 
The GOP’s clever little sleight of hand will only work for so long until MeeMaw and PeePaw and Uncle Joe the Vietnam Vet can no longer afford to live on their slashed benefits and healthcare.
 
CFordUNC said:
The GOP’s clever little sleight of hand will only work for so long until MeeMaw and PeePaw and Uncle Joe the Vietnam Vet can no longer afford to live on their slashed benefits and healthcare.
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These folks you speak of also probably regularly watch Faux News and you can bet dollars to donuts that they ain't gonna attribute that to Trump. The Hannity / Watters / Ingraham / Pirro broken record will play over and over, and it will ultimately be the fault of Hillary or Obama or Joe/Hunter Biden or 'EMMM SOSHALIST LIBRULLL DEMME-KRATSSS!!!
 
nycfan said:
I think this is the magical thinking Trump is urging with his hilarious (if the issue wasn’t so serious) let’s balance the budget posts. Just declare the tax cuts free and declare the budget balanced!
Click to expand...
It is the natural extension of magical thinking that tariffs will eliminate the income tax and a million golden passport applications will wipe out the national debt.
 
There are multiple chances for a govt shutdown thus year (finalizing the FY25 budget when CR runs out mid-March), raising debt ceiling in summer or FY2026 budget on October 1).
Had the two massive ones back in mid-1990s and lengthy ones in IIRC 2014 and 2018
 
nycfan said:
I think this is the magical thinking Trump is urging with his hilarious (if the issue wasn’t so serious) let’s balance the budget posts. Just declare the tax cuts free and declare the budget balanced!

Black Magic GIF
Click to expand...
Don is force feeding his name, image, likeness, temperament, and criminality into every aspect of US government. He’s essentially turning congress into a variation of Mazars.
 
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