Tag Archives: 2018 Budget

The GOP tax cut bill effort slows….

Ya KNEW this was coming….

Rewriting the nation’s tax law has not be done in decades…..

It isn’t gonna be easy yo get it done this time either….

The whole thing rests on just a few Republican Senator ‘s…..And ALSO the Democrats….

The final Senate bill got passed with promises that GOP Majority leader Mitch McConnell made that won’t/can’t be done with the GOP House….

Donald Trump, Paul Ryan, Mitch McConnell

So the critical few Republican Senator’s will have decide what they are gonna do….

In addition?

There are things in the tax bill that are attached to the budget bill that comes back around in two weeks that Democrats HAVE TO support to fund the government….

All this means that the House and Senate have a VERY narrow path to tip-toe thru to get the votes they need….

And right now?

Things do NOT look promising for the tax bill…

The GOPer’s WANT the tax bill….

They MUST pass a spending bill….

Oh, yea….The polling on the tax bill is uniformly NEGATIVE by Americans…

“What we’re missing in the process is virtually the entirety of the process,” said Edward D. Kleinbard, a former chief of staff at the congressional Joint Committee on Taxation and now a professor at USC’s Gould School of Law.

Republicans, he said, are “voting for an ideology rather than a tax legislation.”

At one point it seemed the tax bill, after passing the Senate in the early hours of Dec. 2, might be quickly rushed for a House vote. But that momentum has slipped some, as staff and lawmakers, take a second look, making sure the final product is one Republicans can support. Polls so far have found most Americans don’t approve of the bill.

Leaders have little margin for error; they can lose only about 20 Republican votes in the House and no more than two in the Senate, and still be able to pass the bill along party lines.

A Christmas vote would give Republicans a legislative high note to end Trump’s first year in office.

“The desperation is palpable,” said Sen. Ron Johnson (R-Wis.), who continues to raise concerns about the tax treatment of pass-through businesses, and whose vote is not guaranteed.

As the final bill takes shape, GOP leaders must balance the votes of centrists, such as Sen. Susan Collins (R-Maine), whose support is contingent on healthcare votes to ease the tax bill’s repeal of the Obamacare requirement that all Americans have insurance, with deficit hawks such as Sen. Bob Corker (R-Tenn.), who opposed the earlier version for adding too much to the deficit.

Though GOP leaders say the tax cuts will pay for themselves through economic growth, the Joint Committee on Taxation has concluded that both versions would add about $1 trillion to the deficit, even after accounting for expected growth.

A Treasury report Monday sought to assure lawmakers that the cost of the $1.5-trillion package would be more than paid for by future economic growth. But the one-page report was widely criticized because it relied heavily on separate and as-of-yet unannounced future initiatives for infrastructure development and welfare reform.

Senate Minority Leader Charles E. Schumer (D-N.Y.) called the report “fake math.”

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image…(Evan Vucci / Associated Press)

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The Senate Tax cut bill and Budget would save Obamacare and the Dreamers?…

Republicans…..Rush…Rush….Hurry!

If you haven’t caught this in this way this story is running in the Senate ?….Stop and look….

The House tax cut bill is a straight out screw the poor and middle class period….

The Senate bill has little to do with the House bill….

Why?

Because there are reports that in their haste to get SOMETHING, excuse me…..ANYTHING passed in the next 30 days or so?

They are making promises to EACH senator they need….

HTF is this gonna work when the final vote from BOTH houses of congress needs to be made?….

The budget bill is probably gonna be connected to the tax bill…Democrats HAVE to be in on THAT vote….

Collins: Health-care fix will pass before tax bill

Sen. Susan Collins (R-Maine) said early Thursday that she expects legislation to lower health-care premiums to pass Congress before senators take a final vote on a $1.5 trillion tax reform bill that would repeal ObamaCare’s individual mandate….

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McConnell promises Collins tax bill won’t lead to Medicare cut

Senate Majority Leader Mitch McConnell (R-Ky.) is promising the GOP tax bill, which is projected to add $1.5 trillion to the deficit over the next decade, will not result in cuts to Medicare next year.

McConnell offered the vow to Sen. Susan Collins (R-Maine), a key swing vote, during a Wednesday meeting in his office….

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Sen. Richard Durbin (D-IL) said he is encouraging his colleagues to join him in blocking spending legislation if the legal status of “dreamers” isn’t resolved, the Washington Postreports.

“Durbin has repeatedly said in recent months that Congress needs to resolve the status of dreamers by the end of the year, but he is now the highest-ranking Democratic senator to raise the specter of a government shutdown sparked by an impasse over immigration… Durbin’s position is shared by at least four members of his caucus — Sens. Kamala Harris (D-CA), Elizabeth Warren (D-MA), Cory Booker (D-NJ) and Bernie Sanders (I-VT).”

Politicalwire…

Note….

Right Now.?….This dog thinks there is a LESS than 50% chance there will be a new tax cut law come next year….

Update….

Senator Collins wants more folks….

A Senate Republican holdout on the GOP tax overhaul says she still has problems with the legislation.

Sen. Susan Collins of Maine says, “I have a lot of concerns that I’m trying to fix.” She spoke to reporters Thursday at a Christian Science Monitor breakfast.

She says it would be “very problematic for me” and hard for her to vote for the bill if it still includes elimination of the federal deduction for state and local taxes….

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Trump tweets before meeting with Dem’s….’I don’t see a deal’….

Donald Trump will sit down with the top leaders of the House and Senate in an hour or so to try work out a way to go forward with his and Republicans tax cut and immigration, while signing off on budget for next year….They ‘technically’ have until Dec 8 to get this done….But Congress isn’t good at deadlines….

Trump wants a tax give away for rich people…Democrats don’t….

Trump wants Southern Border Wall money….Democrats and Republicans don’t…

Democrats are now saying they will move to withold their votes unless something is done for Dreamers, who where promised a stay in this country by Democratic and Republicans up until Trump and his chief of staff John Kelly arrived in the White House….

Image result for schumer/trump/pelosi

Caution….

Donald Trump has STILL NOT made one major ‘deal’ since he got his present day job….

Oh, and he doesn’t have the votes right now for his tax give aways….

And?

He needs the Democrats…

President Trump on Tuesday cast doubt on Washington’s ability to avoid a government shutdown, writing on Twitter that he didn’t believe a deal could be reached with Democrats.

The tweet came hours before Trump is to meet at the White House with GOP congressional leaders as well as Senate Minority Leader Charles Schumer (D-N.Y.) and House Minority Leader Nancy Pelosi (D-Calif.).

“Meeting with “Chuck and Nancy” today about keeping government open and working,” Trump tweeted.

“Problem is they want illegal immigrants flooding into our Country unchecked, are weak on Crime and want to substantially RAISE Taxes. I don’t see a deal!”…

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Note….

Every-time he THINKS he has a deal with Democrats?

The Republicans get pissed and scold him to ask for more, thus wrecking anything he thought he had…

image..abcnews.go.com

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Trump and Congressional Leaders to meet on NOT having a government shut down….

Can these people actually get their act straight?….

President Donald Trump and top congressional leaders will meet next week to try to hammer out a year-end agreement to avert a government shutdown, according to multiple sources, as Capitol Hill careens toward a legislative pile-up next month.

The so-called Big Four — Speaker Paul Ryan, House Minority Leader Nancy Pelosi, Senate Majority Leader Mitch McConnell and Senate Minority Leader Chuck Schumer — haven’t even agreed on total government spending levels that would allow appropriators to write a massive funding bill for the rest of the fiscal year.

That means a short-term funding extension to keep the government operating beyond a Dec. 8 deadline is all but inevitable.

Congressional leaders would likely need to reach an agreement on the top-line figures by early next week for there to be any chance of finishing an omnibus spending bill in December.

The meeting is scheduled for Tuesday at 3 p.m., according to congressional sources and a White House official. White House Deputy Press Secretary Lindsay Walters later said in a statement, “The President will be meeting with congressional leaders next week to discuss end-of-year legislative issues.”

In addition to having to move a must-pass bill to fund the government, Republicans hope to pass a sweeping rewrite of the tax code by Christmas.

Further complicating matters is the ongoing dispute over the fate of the Deferred Action for Childhood Arrivals program, the Obama-era initiative that has shielded hundreds of thousands of young undocumented immigrants from deportation….

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Tax Cuts or Balanced Budget try?…The Republican dilemma…

Republican President Donald Trump wants a tax cut….The guy who boasted he ‘loves’ debt doesn’t really care about the Conservative ballanced budget/less debt thing….

It isn’t ‘his’ money he talking about , right?

Republican law makers in Congress are trying to flush out a bill that would make their party leader happy and  party regualrs happy to campaign on more money for their  supporters when the run next year in the midterm elections…

But some fiscal conservatives are already grumbling about the stampede to throw out the spending limits they imposed on themselves to stop spending during the terms  of President Obama….

As in healthcare and Iran?

Checks the GOPer’s put in effect to hamper Obama are causing problems for THEMSELVES….

The debate highlights conflicting schools of thought over tax cuts in the party of Reagan, which could have dire consequences, particularly in the narrowly divided Senate.

Republicans say they want less debt but at the same time love a good tax cut — and are desperate to finally notch a major legislative achievement. Most Republicans are coming down on the side of tax cuts, preaching supply-side theories that tax cuts need not be paid for because they will grow the economy and eventually pay for themselves.

“In order to make good on our campaign tax promise, there probably are going to be some sacrifices made from an ideological perspective,” said senior House Budget Committee member Steve Womack (R-Ark.), a longtime deficit hawk.

“I believe that the biggest remedy for our fiscal situation is growth in the economy,” he added. “I am not averse to some deficit spending in order to create long-term sustained growth.”

Most economists say it’s unlikely that a multi-trillion-dollar tax package will pay for itself with sustained, long-term growth. That however hasn’t stopped Republicans from predicting that cutting taxes will increase the GDP by a full percentage point for several years and wash away deficit concerns with new revenue.

The crux of the debate centers on “static” scores from budget-crunchers that do not account for new growth, and “dynamic” scores that predict new revenues will be produced by tax cuts.

In today’s GOP, “dynamic” is in and “static” is out.

“The scoring mechanism, again, is crazy,” said Sen Ron Johnson (R-Wis.). “Just agree we’re going to lose money on a static scoring basis. I’m happy to live with a $2-3 trillion static loss.”

Corker has been the loudest critic of this thinking, warning about a “party-like” atmosphere in the GOP, especially now that Barack Obama is out of the White House. But he’s being joined by others: Sen. Todd Young (R-Ind.) told the Indiana Business Journal that “we can’t assume unreasonable rates of economic growth or we’re being fiscally irresponsible.”

Corker’s group, however, appears to be small party. While Republicans earlier this year set out to rewrite the tax code without blowing a hole in the national budget, most Hill Republicans, from GOP leaders to conservatives have started to side with Mulvaney, acknowledging that they’ll grow the deficit for a time with the tax package….

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House Freedom Caucus leader will work with Democrats on Budget…

With Healthcare moving to rear…..House members MUST come together to prevent a Government shutdown with no budget to fund paying the governments bills…

So it is NO surprise that the bull shit will have to stop and lawmakers of BOTH parties will have to sit down and  get back doing their jobs…..

Even if the House passes all its appropriations bills, it will have trouble working out differences with the Senate, which is working off a completely different set of spending figures.
Increasingly, Republicans are coming around to the view that they will have to stomach a short-term continuing resolution (CR), which maintains current funding levels, to avert a government shutdown when funding runs out at the end of September.
While a CR can postpone a shutdown, a looming deadline on the debt ceiling will give Congress less flexibility. Absent legislative action, the U.S. Treasury will run out of ways to pay its bills around mid-October. Conservatives, who hoped to attach a debt-lift to some sort of spending reforms or policy riders, are coming around to the view that they may be unsuccessful.
“We’re almost anticipating a bigger bill with a whole bunch of things put together that would maybe bring a whole lot of Democrats on board and pass with less than a majority of the majority,” Meadows said, noting ruefully that his Caucus had pushed for dealing with the issue before the August recess.
House members are fond of blaming the Senate for Congress’s inability to pass major legislation, but many in the House are also beginning to long for a return to normal order, where budgets precede spending bills and parties cooperate somewhat more frequently.
“The best way to make this place work is to always get back to regular order, passing a budget, passing appropriations bills,” said Renacci.
Even Meadows, whose group often creates stumbling blocks for easy passage of legislation, acknowledged this week that past tactics have failed to produce the desired results, and called for a new direction…..
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