Latest news with #Senate-amended
Politico
5 days ago
- Business
- Politico
House passes public media, foreign aid clawbacks after Epstein scramble
The president's budget director said Trump is likely to send more cutbacks requests to Congress 'soon.' House Majority Leader Steve Scalise (R-La.) walks to a vote at the U.S. Capitol July 2, 2025. (Francis Chung/POLITICO via AP Images) | AP By Katherine Tully-McManus and Jennifer Scholtes 07/18/2025 12:07 AM EDT Six months into Donald Trump's presidency, Congress finally codified a small piece of the hundreds of billions of dollars his Department of Government Efficiency pinpointed as 'waste.' House Republicans gave final approval just after midnight Friday to Trump's proposal to claw back $9 billion in public media and foreign assistance, greenlighting the Senate's changes to the measure that will bake in proposed DOGE cuts to public media and foreign aid. The package now heads to the president's desk. The House's 216-213 vote to clear the Senate-amended package comes less than 24 hours after the Senate voted to tweak the administration's original proposal that would have cut an additional $400 million from the global AIDS fighting program, PEPFAR. Senate Republicans also added language vowing that certain food assistance programs would be protected, and staved off impacts to other food aid, maternal health, malaria and tuberculosis-related initiatives.
Hindustan Times
03-07-2025
- Politics
- Hindustan Times
Big Beautiful Bill House vote: What happens after Republicans lose 4 votes? Where will the bill go now?
President Donald Trump's Big Beautiful Bill faced a significant setback in the House rule vote on Wednesday after four Republicans initially voted against the spending measure. Republicans could not lose more than three votes, with the House in full attendance, for the bill to pass. House Majority Leader Steve Scalise (R-LA) talks to reporters before the Big Beautiful Bill vote(Getty Images via AFP) {{^userSubscribed}} {{^usCountry}} {{/usCountry}} {{#usCountry}} {{/usCountry}} {{/userSubscribed}} {{^userSubscribed}} {{^usCountry}} {{/usCountry}} {{#usCountry}} {{/usCountry}} {{/userSubscribed}} Four Republicans, including Rep Brian Fitzpatrick (R-PA) and Rep. Andrew Clyde (R-GA), voted 'no' on a critical procedural vote, leaving Speaker Mike Johnson very little time to convince at least one of them to flip their vote. {{^usCountry}} {{/usCountry}} {{^usCountry}} {{/usCountry}} Read More: Bill Beautiful Bill House vote: What happens if there's a tie? Can Mike Johnson pass the bill? What happens after Republicans lose 4 votes? The House was voting on a procedural 'rule' to set debate terms for the bill, a prerequisite for final passage. Four defections could cause the rule vote to fail, with a potential 216-216 tie or shortfall (217 needed to pass with 432 members present). {{^userSubscribed}} {{^usCountry}} {{/usCountry}} {{#usCountry}} {{/usCountry}} {{/userSubscribed}} {{^userSubscribed}} {{^usCountry}} {{/usCountry}} {{#usCountry}} {{/usCountry}} {{/userSubscribed}} {{^usCountry}} A failed rule vote prevents the bill from reaching the floor for a final vote, effectively stalling it. {{/usCountry}} {{#usCountry}} A failed rule vote prevents the bill from reaching the floor for a final vote, effectively stalling it. {{/usCountry}} {{^usCountry}} The failure to pass the rule vote means the bill is dead for now, as House rules require a majority to advance legislation, and a tie results in defeat. The bill cannot proceed to President Trump's desk without House approval of the Senate-amended version, which was passed earlier this week. {{/usCountry}} {{#usCountry}} The failure to pass the rule vote means the bill is dead for now, as House rules require a majority to advance legislation, and a tie results in defeat. The bill cannot proceed to President Trump's desk without House approval of the Senate-amended version, which was passed earlier this week. {{/usCountry}} {{^usCountry}} Read More: 'Biggest tax cuts in history': Trump confident of 'Big Beautiful Bill' passing US House vote Where will the bill go now? {{/usCountry}} {{#usCountry}} Read More: 'Biggest tax cuts in history': Trump confident of 'Big Beautiful Bill' passing US House vote Where will the bill go now? {{/usCountry}} {{^usCountry}} Speaker Johnson could pull the bill, revise it to address concerns, and schedule another vote. However, Trump's July 4 deadline has passed, and he conceded it might slip. {{/usCountry}} {{#usCountry}} Speaker Johnson could pull the bill, revise it to address concerns, and schedule another vote. However, Trump's July 4 deadline has passed, and he conceded it might slip. {{/usCountry}} {{^userSubscribed}} {{^usCountry}} {{/usCountry}} {{#usCountry}} {{/usCountry}} {{/userSubscribed}} {{^userSubscribed}} {{^usCountry}} {{/usCountry}} {{#usCountry}} {{/usCountry}} {{/userSubscribed}} If the House cannot pass the bill, Trump could pursue parts of his agenda via executive orders, such as border security measures or temporary tax relief, though these face legal challenges and cannot replicate the bill's scope. If GOP defections persist, the bill could be shelved, forcing Republicans to prioritize smaller, targeted legislation. This would be a massive blow to Trump's agenda. SHARE THIS ARTICLE ON
Yahoo
02-07-2025
- Business
- Yahoo
Fox Host Admits Trump's Big, Beautiful Bill Will ‘Run Up the Debt'
Fox News host Harris Faulkner admitted Tuesday that President Donald Trump's Big, Beautiful Bill will 'run up the debt.' Faulkner, 59, made the concession while interviewing Fox Business analyst Jackie DeAngelis, who agreed that the megabill, which passed the Senate on Tuesday with Vice President JD Vance as the tiebreaker, 'definitely' has 'some issues.' DeAngelis explained the debt added by the Senate-amended version of the bill is 'substantially higher' than what the House narrowly passed last month, which was already too significant for some fiscal hawks—and Elon Musk—to stomach. 'Nobody wants to add to the national debt, especially with interest rates where they are,' DeAngelis noted. 'We already pay a trillion dollars a year to service that debt.' The 44-year-old host made clear she is not necessarily opposed to Trump's beloved bill. She said that the tax cuts included in it, which are primarily expected to benefit the ultra-wealthy, will be a boon to the U.S. economy. If true, she said that economic growth can eventually erase the multi-trillion-dollar deficit. 'If you are a student of Reagan economics and you think back to the '80s and Reagan's policies, which are very similar to Trump's, the answer to those folks is that we are going to grow our way out of it,' said DeAngelis. 'You stimulate the economy. You cut taxes for people and businesses. That gets the engine going. That pays for what they're saying will be added to the national debt.' Both hosts asserted that the Congressional Budget Office, a nonpartisan analytical arm of Congress, cannot be trusted for accurate estimates of the U.S. economy and debt, citing instances where the office has made errors. The CBO estimates that the Senate version of Trump's bill will add $3.3 trillion to the U.S. budget deficit over the next decade, through 2034. DeAngelis reiterated her point that U.S. economic growth can offset the additional debt burden imposed by the mega bill. The CBO is not considering this hypothetical, she claimed. 'What they can do is crunch the numbers as they are right now,' she said. 'What they can't predict and what the Republicans can't give them is some tangible evidence of what the growth will be when all the policies go into place.' DeAngelis also claimed that the administration is finding or making money in all sorts of 'little places' that need to be considered. This, she said, comes from tariff revenue, DOGE cuts, and even Trump's 'Gold Card Program,' which grants foreigners who pay $5 million a visa to live and work in the United States. It would require the sale of more than 7 million gold cards—at $5 million apiece—to erase the current national debt, which is around $36 trillion as of Tuesday afternoon.
Winnipeg Free Press
01-07-2025
- Business
- Winnipeg Free Press
What's in the latest version of Trump's big bill that passed the Senate
WASHINGTON (AP) — Republicans are getting closer to the finish line in getting their tax and spending cut bill through Congress with a final House vote possible on Wednesday. At some 887 pages, the legislation is a sprawling collection of tax breaks, spending cuts and other Republican priorities, including new money for national defense and deportations. President Donald Trump has admonished Republicans, who hold majority power in the House and Senate, to skip their holiday vacations and deliver the bill by the Fourth of July. Democrats are united against the legislation, but are powerless to stop the bill if Republicans are united. The Senate passed the bill, with Vice President JD Vance casting the tie-breaking vote. The House passed an earlier iteration of the bill in May with just one vote to spare. Now, it will take up the Senate-amended measure. Here's the latest on what's in the bill. There could be changes as GOP lawmakers continue to negotiate. Tax cuts are the priority Republicans say the bill is crucial because there would be a massive tax increase after December when tax breaks from Trump's first term expire. The legislation contains about $4.5 trillion in tax cuts. The existing tax rates and brackets would become permanent under the bill. It temporarily would add new tax breaks that Trump campaigned on: no taxes on tips, overtime pay, the ability to deduct interest payments for some automotive loans, along with a $6,000 deduction for older adults who earn no more than $75,000 a year. It would boost the $2,000 child tax credit to $2,200. Millions of families at lower income levels would not get the full credit. A cap on state and local deductions, called SALT, would quadruple to $40,000 for five years. It's a provision important to New York and other high tax states, though the House wanted it to last for 10 years. There are scores of business-related tax cuts, including allowing businesses to immediately write off 100% of the cost of equipment and research. The wealthiest households would see a $12,000 increase from the legislation, which would cost the poorest people $1,600 a year, according to the nonpartisan Congressional Budget Office analysis of the House's version. Middle-income taxpayers would see a tax break of $500 to $1,500, the CBO said. Money for deportations, a border wall and the Golden Dome The bill would provide some $350 billion for Trump's border and national security agenda, including $46 billion for the U.S.-Mexico border wall and $45 billion for 100,000 migrant detention facility beds, as he aims to fulfill his promise of the largest mass deportation operation in U.S. history. Money would go for hiring 10,000 new Immigration and Customs Enforcement officers, with $10,000 signing bonuses and a surge of Border Patrol officers, as well. The goal is to deport some 1 million people per year. The homeland security secretary would have a new $10 billion fund for grants for states that help with federal immigration enforcement and deportation actions. To help pay for it, immigrants would face various new fees, including when seeking asylum protections. For the Pentagon, the bill would provide billions for ship building, munitions systems, and quality of life measures for servicemen and women, as well as $25 billion for the development of the Golden Dome missile defense system. The Defense Department would have $1 billion for border security. How to pay for it? Cuts to Medicaid and other programs To help partly offset the lost tax revenue and new spending, Republicans aim to cut back on Medicaid and food assistance for the poor. Republicans argue they are trying to rightsize the safety net programs for the population they were initially designed to serve, mainly pregnant women, the disabled and children, and root out what they describe as waste, fraud and abuse. The package includes new 80-hour-a-month work requirements for many adults receiving Medicaid and food stamps, including older people up to age 65. Parents of children 14 and older would have to meet the program's work requirements. There's also a proposed new $35 co-payment that can be charged to patients using Medicaid services. More than 71 million people rely on Medicaid, which expanded under Obama's Affordable Care Act, and 40 million use the Supplemental Nutrition Assistance Program. Most already work, according to analysts. The Congressional Budget Office estimates that 11.8 million more Americans would become uninsured by 2034 if the bill became law and 3 million more would not qualify for food stamps, also known as SNAP benefits. Republicans are looking to have states pick up some of the cost for SNAP benefits. Currently, the federal government funds all benefit costs. Under the bill, states beginning in 2028 will be required to contribute a set percentage of those costs if their payment error rate exceeds 6%. Payment errors include both underpayments and overpayments. But the Senate bill temporarily delays the start date of that cost-sharing for states with the highest SNAP error rates. Alaska has the highest error rate in the nation at nearly 25%, according to Department of Agriculture data. Sen. Lisa Murkowski, R-Alaska, had fought for the exception. She was a decisive vote in getting the bill through the Senate. A 'death sentence' for clean energy? Republicans are proposing to dramatically roll back tax breaks designed to boost clean energy projects fueled by renewable sources such as energy and wind. The tax breaks were a central component of President Joe Biden's 2022 landmark bill focused on addressing climate change and lowering healthcare costs. Democratic Oregon Sen. Ron Wyden went so far as to call the GOP provisions a 'death sentence for America's wind and solar industries and an inevitable hike in utility bills.' A tax break for people who buy new or used electric vehicles would expire on Sept. 30 of this year, instead of at the end of 2032 under current law. Meanwhile, a tax credit for the production of critical materials will be expanded to include metallurgical coal used in steelmaking. Trump savings accounts and so, so much more A number of extra provisions reflect other GOP priorities. The House and Senate both have a new children's savings program, called Trump Accounts, with a potential $1,000 deposit from the Treasury. The Senate provided $40 million to establish Trump's long-sought 'National Garden of American Heroes.' There's a new excise tax on university endowments. A $200 tax on gun silencers and short-barreled rifles and shotguns was eliminated. One provision bars money to family planning providers, namely Planned Parenthood, while $88 million is earmarked for a pandemic response accountability committee. Another section expands the Radiation Exposure Compensation Act, a hard-fought provision from GOP Sen. Josh Hawley of Missouri, for those impacted by nuclear development and testing. Billions would go for the Artemis moon mission and for the exploration of Mars. Additionally, a provision would increase the nation's debt limit, by $5 trillion, to allow continued borrowing to pay already accrued bills. Last-minute changes The Senate overwhelmingly revolted against a proposal meant to deter states from regulating artificial intelligence. Republican governors across the country asked for the moratorium to be removed and the Senate voted to do so with a resounding 99-1 vote. A provision was thrown in at the final hours that will provide $10 billion annually to rural hospitals for five years, or $50 billion in total. The Senate bill had originally provided $25 billion for the program, but that number was upped to win over holdout GOP senators and a coalition of House Republicans warning that reduced Medicaid provider taxes would hurt rural hospitals. The amended bill also stripped out a new tax on wind and solar projects that use a certain percentage of components from China. What's the final cost? Altogether, the Congressional Budget Office projects that the bill would increase federal deficits over the next 10 years by nearly $3.3 trillion from 2025 to 2034. Wednesdays Columnist Jen Zoratti looks at what's next in arts, life and pop culture. Or not, depending on how one does the math. Senate Republicans are proposing a unique strategy of not counting the existing tax breaks as a new cost because those breaks are already 'current policy.' Republican senators say the Senate Budget Committee chairman has the authority to set the baseline for the preferred approach. Under the alternative Senate GOP view, the bill would reduce deficits by almost half a trillion dollars over the coming decade, the CBO said. Democrats say this is 'magic math' that obscures the true costs of the tax breaks. Some nonpartisan groups worried about the country's fiscal trajectory are siding with Democrats in that regard. The Committee for a Responsible Federal Budget says Senate Republicans are employing an 'accounting gimmick that would make Enron executives blush.' ___
Yahoo
01-07-2025
- Business
- Yahoo
What's in the latest version of Trump's big bill that passed the Senate
WASHINGTON (AP) — Republicans are getting closer to the finish line in getting their tax and spending cut bill through Congress with a final House vote possible on Wednesday. At some 887 pages, the legislation is a sprawling collection of tax breaks, spending cuts and other Republican priorities, including new money for national defense and deportations. President Donald Trump has admonished Republicans, who hold majority power in the House and Senate, to skip their holiday vacations and deliver the bill by the Fourth of July. Democrats are united against the legislation, but are powerless to stop the bill if Republicans are united. The Senate passed the bill, with Vice President JD Vance casting the tie-breaking vote. The House passed an earlier iteration of the bill in May with just one vote to spare. Now, it will take up the Senate-amended measure. Here's the latest on what's in the bill. There could be changes as GOP lawmakers continue to negotiate. Tax cuts are the priority Republicans say the bill is crucial because there would be a massive tax increase after December when tax breaks from Trump's first term expire. The legislation contains about $4.5 trillion in tax cuts. The existing tax rates and brackets would become permanent under the bill. It temporarily would add new tax breaks that Trump campaigned on: no taxes on tips, overtime pay, the ability to deduct interest payments for some automotive loans, along with a $6,000 deduction for older adults who earn no more than $75,000 a year. It would boost the $2,000 child tax credit to $2,200. Millions of families at lower income levels would not get the full credit. A cap on state and local deductions, called SALT, would quadruple to $40,000 for five years. It's a provision important to New York and other high tax states, though the House wanted it to last for 10 years. There are scores of business-related tax cuts, including allowing businesses to immediately write off 100% of the cost of equipment and research. The wealthiest households would see a $12,000 increase from the legislation, which would cost the poorest people $1,600 a year, according to the nonpartisan Congressional Budget Office analysis of the House's version. Middle-income taxpayers would see a tax break of $500 to $1,500, the CBO said. Money for deportations, a border wall and the Golden Dome The bill would provide some $350 billion for Trump's border and national security agenda, including $46 billion for the U.S.-Mexico border wall and $45 billion for 100,000 migrant detention facility beds, as he aims to fulfill his promise of the largest mass deportation operation in U.S. history. Money would go for hiring 10,000 new Immigration and Customs Enforcement officers, with $10,000 signing bonuses and a surge of Border Patrol officers, as well. The goal is to deport some 1 million people per year. The homeland security secretary would have a new $10 billion fund for grants for states that help with federal immigration enforcement and deportation actions. To help pay for it, immigrants would face various new fees, including when seeking asylum protections. For the Pentagon, the bill would provide billions for ship building, munitions systems, and quality of life measures for servicemen and women, as well as $25 billion for the development of the Golden Dome missile defense system. The Defense Department would have $1 billion for border security. How to pay for it? Cuts to Medicaid and other programs To help partly offset the lost tax revenue and new spending, Republicans aim to cut back on Medicaid and food assistance for the poor. Republicans argue they are trying to rightsize the safety net programs for the population they were initially designed to serve, mainly pregnant women, the disabled and children, and root out what they describe as waste, fraud and abuse. The package includes new 80-hour-a-month work requirements for many adults receiving Medicaid and food stamps, including older people up to age 65. Parents of children 14 and older would have to meet the program's work requirements. There's also a proposed new $35 co-payment that can be charged to patients using Medicaid services. More than 71 million people rely on Medicaid, which expanded under Obama's Affordable Care Act, and 40 million use the Supplemental Nutrition Assistance Program. Most already work, according to analysts. The Congressional Budget Office estimates that 11.8 million more Americans would become uninsured by 2034 if the bill became law and 3 million more would not qualify for food stamps, also known as SNAP benefits. Republicans are looking to have states pick up some of the cost for SNAP benefits. Currently, the federal government funds all benefit costs. Under the bill, states beginning in 2028 will be required to contribute a set percentage of those costs if their payment error rate exceeds 6%. Payment errors include both underpayments and overpayments. But the Senate bill temporarily delays the start date of that cost-sharing for states with the highest SNAP error rates. Alaska has the highest error rate in the nation at nearly 25%, according to Department of Agriculture data. Sen. Lisa Murkowski, R-Alaska, had fought for the exception. She was a decisive vote in getting the bill through the Senate. A 'death sentence' for clean energy? Republicans are proposing to dramatically roll back tax breaks designed to boost clean energy projects fueled by renewable sources such as energy and wind. The tax breaks were a central component of President Joe Biden's 2022 landmark bill focused on addressing climate change and lowering healthcare costs. Democratic Oregon Sen. Ron Wyden went so far as to call the GOP provisions a 'death sentence for America's wind and solar industries and an inevitable hike in utility bills.' A tax break for people who buy new or used electric vehicles would expire on Sept. 30 of this year, instead of at the end of 2032 under current law. Meanwhile, a tax credit for the production of critical materials will be expanded to include metallurgical coal used in steelmaking. Trump savings accounts and so, so much more A number of extra provisions reflect other GOP priorities. The House and Senate both have a new children's savings program, called Trump Accounts, with a potential $1,000 deposit from the Treasury. The Senate provided $40 million to establish Trump's long-sought 'National Garden of American Heroes.' There's a new excise tax on university endowments. A $200 tax on gun silencers and short-barreled rifles and shotguns was eliminated. One provision bars money to family planning providers, namely Planned Parenthood, while $88 million is earmarked for a pandemic response accountability committee. Another section expands the Radiation Exposure Compensation Act, a hard-fought provision from GOP Sen. Josh Hawley of Missouri, for those impacted by nuclear development and testing. Billions would go for the Artemis moon mission and for the exploration of Mars. Additionally, a provision would increase the nation's debt limit, by $5 trillion, to allow continued borrowing to pay already accrued bills. Last-minute changes The Senate overwhelmingly revolted against a proposal meant to deter states from regulating artificial intelligence. Republican governors across the country asked for the moratorium to be removed and the Senate voted to do so with a resounding 99-1 vote. A provision was thrown in at the final hours that will provide $10 billion annually to rural hospitals for five years, or $50 billion in total. The Senate bill had originally provided $25 billion for the program, but that number was upped to win over holdout GOP senators and a coalition of House Republicans warning that reduced Medicaid provider taxes would hurt rural hospitals. The amended bill also stripped out a new tax on wind and solar projects that use a certain percentage of components from China. What's the final cost? Altogether, the Congressional Budget Office projects that the bill would increase federal deficits over the next 10 years by nearly $3.3 trillion from 2025 to 2034. Or not, depending on how one does the math. Senate Republicans are proposing a unique strategy of not counting the existing tax breaks as a new cost because those breaks are already 'current policy.' Republican senators say the Senate Budget Committee chairman has the authority to set the baseline for the preferred approach. Under the alternative Senate GOP view, the bill would reduce deficits by almost half a trillion dollars over the coming decade, the CBO said. Democrats say this is 'magic math' that obscures the true costs of the tax breaks. Some nonpartisan groups worried about the country's fiscal trajectory are siding with Democrats in that regard. The Committee for a Responsible Federal Budget says Senate Republicans are employing an 'accounting gimmick that would make Enron executives blush.' ___
