U.S. Budget - OBBB | Medicare Part D premiums set to rise

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nycfan said:
Those guys always fold. Like always. I would not hold my breath for them to do otherwise now, though they certainly should have the leverage.
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Glad someone else noticed it. I don't know why they go out on a limb with this stuff. "I will never support a bill that . . . " and then they end up supporting it a week later. What was the point?

It's always interesting to me, in a bad way, when reading stories about how the GOP has "five or six holdouts but they are expected to come around." If everyone expects you to come around, what's the point? It's like Trump folding left and right and thinking he still has leverage.
 

House Republicans Worry Trump’s Rescission Package Might Endanger Reconciliation​

“Trump is running out of political goodwill with members, and if he tries to codify the unpopular cuts and reconciliation at the same time, he might not get either done,” one GOP member told NOTUS.

www.notus.org

House Republicans Worry Trump’s Rescission Package Might Endanger Reconciliation

“Trump is running out of political goodwill with members, and if he tries to codify the unpopular cuts and reconciliation at the same time, he might not get either done,” one GOP member told NOTUS.
www.notus.org www.notus.org

“The White House wants to send Congress a rescission package — essentially legislation to codify the administration’s DOGE cuts and send the money back to the Treasury — as soon as lawmakers return from their two-week recess.

House Republicans are hoping President Donald Trump might hold off for a bit.

…
A second GOP member told NOTUS that the smartest thing to do would be for the administration to lay out what rescissions they want privately as opposed to making a public, formal request. That would allow Republicans to simply put the rescission requests into reconciliation and count the savings toward the final cost of the bill.

That move would also prevent Congress from having to work on two controversial pieces of legislation at the same time and save vulnerable Republicans from yet another tough vote. …”

I Guess If You Say So GIF
 
nycfan said:
Yeah they are slowly moving some content behind a paywall, didn’t notice this was one example.
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Back in the 90s, there was quite the debate as to whether information wanted to be free. I was on the side of, "no, information does not want to be free" and I think our camp has prevailed.
 
nycfan said:

Gingrich believes Trump has taken a tax hike on the wealthy off the table​

Some Republicans have been flirting with such a move to pay for President Donald Trump’s “big, beautiful bill.”


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“…
The comments Gingrich shared come as the GOP has been flirting with a hike in the tax rate on the wealthiest Americans to help finance their party-line border, energy and tax bill. The idea is anathema to many prominent conservatives, including Gingrich, who have long campaigned to prevent tax hikes on Americans across the income spectrum.

House Speaker Mike Johnson (R-La.) and other top Republicans have also thrown cold water on the idea.

Nonetheless, deficit hawks in the House, such as Freedom Caucus Chair Andy Harris (R-Md.), have broached the idea.

Sen. Chuck Grassley (R-Iowa) likewise said at a town hall last week that the idea was on a Finance Committee “working sheet” of tax proposals. The increase could help pay for an expansion to the Child Tax Credit, Grassley said. …”
 
nycfan said:
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“… States have developed all kinds of financing gimmicks designed to increase D.C.’s share of the funding and reduce their own.

Republicans have talked about prohibiting some or all of these gimmicks, and they have a pretty good argument many nonpartisan analysts support: These mechanisms allow states to shirk some of their responsibility for the program. At the same time, the entire health care economy works this way—with all kinds of convoluted workarounds. Take away this one, and it’s virtually inevitable some states couldn’t or wouldn’t make up the funding.

Instead, they would cut back their Medicaid programs in one way or another, leaving more people unable to get affordable care. …”
 
nycfan said:
“… States have developed all kinds of financing gimmicks designed to increase D.C.’s share of the funding and reduce their own.

Republicans have talked about prohibiting some or all of these gimmicks, and they have a pretty good argument many nonpartisan analysts support: These mechanisms allow states to shirk some of their responsibility for the program. At the same time, the entire health care economy works this way—with all kinds of convoluted workarounds. Take away this one, and it’s virtually inevitable some states couldn’t or wouldn’t make up the funding.

Instead, they would cut back their Medicaid programs in one way or another, leaving more people unable to get affordable care. …”
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Trump is now telling Congressional Republicans to raise taxes on the rich. I think he's finally finished his math homework.

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www.reuters.com

Very little support from Congressional Republicans at this early stage but I suspect that could change with a truth social post or two.
 
gtyellowjacket said:
Trump is now telling Congressional Republicans to raise taxes on the rich. I think he's finally finished his math homework.

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www.reuters.com

Very little support from Congressional Republicans at this early stage but I suspect that could change with a truth social post or two.
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Republicans in the Senate have floated this already and been shot down, but ebb and flow I guess.

Would be interested in the math on how much that helps, though. The gap in their budgeting so far has been enormous.

On a related note, what is politically tricky here is that unless they come through on other working and middle class tax cuts, the working and middle class voter won’t actually feel the reduced tax rate — from their perspective, things will remain same. The rates would revert to Obama era rates if nothing is done but that can be tough to effectively message.
 
nycfan said:
Republicans in the Senate have floated this already and been shot down, but ebb and flow I guess.

Would be interested in the math on how much that helps, though. The gap in their budgeting so far has been enormous.

On a related note, what is politically tricky here is that unless they come through on other working and middle class tax cuts, the working and middle class voter won’t actually feel the reduced tax rate — from their perspective, things will remain same. The rates would revert to Obama era rates if nothing is done but that can be tough to effectively message.
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I suspect that raising taxes on "the rich" means doctors and lawyers are in the cross-hairs.

The rich they don't want to hit, they will exclude like they did in 2017. That provision of the tax code, that lets passive income get a 20% credit but not professionals who labor, was serious bullshit.
 
Trump is now telling Congressional Republicans to raise taxes on the rich. I think he's finally running into math.

Trump tells Congress to raise taxes on the rich in budget bill​

nycfan said:
Republicans in the Senate have floated this already and been shot down, but ebb and flow I guess.

Would be interested in the math on how much that helps, though. The gap in their budgeting so far has been enormous.

On a related note, what is politically tricky here is that unless they come through on other working and middle class tax cuts, the working and middle class voter won’t actually feel the reduced tax rate — from their perspective, things will remain same. The rates would revert to Obama era rates if nothing is done but that can be tough to effectively message.
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One of Trump's proposals is "pushing to raise the top tax rate from 37% to 39.6% for individuals earning $2.5 million and higher or joint filers earning $5 million, with carve-outs for small businesses, according to one source."

Another is to plug the carried interest loophole for private equity.

I'm not against it but it's not likely to raise that much money. The carried interest proposal would cut the deficit by $13B over 10 years. That's a drop on the bucket. Just not sure how many people make $2.5M a year. That might be .01% or even less.
 
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