Measure Twice And Cut Once
Through DOGE's recent work, they have uncovered the Biden administrations misuse of taxpayers' dollars, which Garret argues that just because it has merit doesn't mean it needs funding from U.S. taxpayer dollars.
Uphill battle: President Trump has announced that he wants to eliminate the Federal Emergency Management Agency due to its alleged inability to help those recover from major disasters. To avoid potentially being cut, FEMA must find ways to sustain itself more efficiently and cheaper.
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Newsweek
35 minutes ago
- Newsweek
Trump's 'Big, Beautiful Bill' 'A Gift' for Democrats, James Carville Says
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Veteran Democratic strategist James Carville on Monday said that the Donald Trump-backed "big, beautiful bill" is "a gift" for the Democratic Party. Why It Matters The One Big Beautiful Bill Act passed Congress earlier this month and aims to deliver on Trump's biggest legislative priorities: cementing the sweeping tax cuts, which disproportionately benefit wealthy Americans, enacted during his first term, and substantially increasing funds for border security and immigration enforcement. The Republican-passed bill pays for the tax cuts and increased border security with deep spending reductions in critical social safety net programs like Medicaid and food assistance. The nonpartisan Congressional Budget Office has estimated that the bill could result in 11.8 million more uninsured Americans by 2034 and add nearly $3.4 trillion to the federal deficit over the next decade. James Carville is pictured at Politicon in Pasadena, California, on June 25, 2016. James Carville is pictured at Politicon in Pasadena, California, on June 25, 2016. Colin Young-Wolff/Invision/AP What To Know Carville made his remarks during an appearance on Fox News, telling host Martha MacCallum that the massive spending package should be the Democratic Party's main messaging focus. "James, you've talked about, you know, them wasting time on some of these issues around trans sports and all this stuff," MacCallum said. "What substantive thing would you like to see them focus on? Because perhaps immigration is the one, and in what way?" "The 'big, beautiful bill,'" Carville responded. "Cutting veterans' benefits, closing rural hospitals, raising $3.4 trillion on our national debt. I mean, when you have something simple in a gift like this to contrast yourself, you would be stupid to talk about immigration, or talk about bathrooms, or track meets or anything else." He added: "Just define yourself that we don't think this is going in the right direction for the United States and the numbers overwhelmingly would support that! But if we keep talking about this other nonsense, we're going to lose our focus." House Minority Leader Hakeem Jeffries gave a marathon speech railing against the bill, which lasted eight hours and 44 minutes. "Republicans are trying to jam this one, big, ugly bill down the throats of the American people," Jeffries said during his "magic minute" speech. "Leadership requires courage, conviction, compassion—and yet what we have seen from this administration and co-conspirators on the Republican side of the aisle is cruelty, chaos and corruption," he said, adding that the bill was "an extraordinary assault on the health care of the American people." Other Democratic lawmakers also made headlines for their stinging rebukes of the megabill. "This bill will kill good, blue-collar manufacturing jobs that we need to rebuild the economy in this country," Democratic Representative Josh Riley of New York said during a floor debate. "It closes rural hospitals. It defunds health care. All to give trillions of dollars in tax cuts to your cronies." "Don't tell me you give a s*** about the middle class when all you are doing is s******* on the middle class," Riley added. Representative Alexandria Ocasio-Cortez, another Democrat from New York and one of the most progressive members of Congress, described the bill as a "deal with the devil" in an impassioned speech on the House floor. Democratic Massachusetts Representative Jim McGovern mocked Republicans for behaving like they were in a "cult" because of their support for the Trump-backed bill, despite recent polling data showing that it's broadly opposed by Americans. Several Republican senators have also faced scrutiny over comments they delivered regarding the cuts to Medicaid. Senator Joni Ernst of Iowa made headlines in May when she responded to people protesting Medicaid cuts by saying, "Well, we are all going to die." Kentucky Senator Mitch McConnell, former Senate majority leader, also told Republicans during a closed-door lunch in June: "I know a lot of us are hearing from people back home about Medicaid. But they'll get over it." What Happens Next Trump administration officials have continued touting the law since Trump signed it earlier this month as part of an effort to sell it to voters. "It is time for you to have a government that works for you instead of against you for the next 3 1/2 years," Vice President JD Vance told voters in his home state of Ohio on Monday. "The Trump administration promises that is exactly what we're going to do."
Miami Herald
2 hours ago
- Miami Herald
White House touts Social Security tax break as largest in history
Social Security is a program that tens of millions of older Americans rely on for income. The fact of the matter is that many Americans struggle to save for retirement, either because their wages aren't high enough or they have too many competing priorities. Related: Warren Buffett sends blunt message on Social Security It's hard to set aside money in a 401(k) when you're barely covering the mortgage. And a lot of people figure they can retire mostly on Social Security, cut back on expenses, and manage okay even if they don't end up scraping together much savings. Don't miss the move: Subscribe to TheStreet's free daily newsletter Still, many people end up with some income in retirement outside of Social Security. And people in that boat often lose out in the form of being taxed on their monthly benefits. A recent change could get millions of older Americans out of those taxes. But a surprisingly large chunk of seniors could get left out. People who retire on only Social Security can often get away with not paying taxes on those benefits. But retiring on Social Security alone is tricky. The average monthly benefit today only pays about $2,000, which isn't enough to cover even a modest lifestyle. Related: AARP CEO sounds the alarm on Social Security For this reason, retirees often supplement their Social Security benefits with modest IRA withdrawals, a 401(k), or part-time work. But that can lead to an unwanted tax burden – federal taxes on Social Security benefits. Social Security benefits are taxed based on a formula called combined income. It's calculated as: 50% of annual Social Security benefitsAdjusted gross incomeTax-free interest income A combined income of over $25,000 for singles or $32,000 for married couples filing joint tax returns results in taxed benefits to some degree, taking critical income away from retirees who need it. As part of his presidential campaign, Donald Trump pledged to do away with taxes on Social Security. It seemed like that promise wouldn't come to light until the One Big Beautiful Bill Act was passed. Now, the White House is calling the bill "the largest tax break in history for America's seniors." Related: Social Security faces big problems sooner than expected The bill provides a $6,000 bonus tax deduction for filers ages 65 or older. For a married couple filing jointly, that deduction doubles to $12,000. In light of this, the White House claims that "the vast majority of senior citizens – 88% of all seniors who receive Social Security – will pay NO TAX on their Social Security benefits." And that may be true. But seniors should recognize that the aforementioned deduction is technically not tied to Social Security directly. Not only that, but the bill does not make any changes to Social Security itself. The new tax break also does not apply to all Social Security recipients. Americans 65 and over are eligible for the new tax break. But seniors can file for Social Security benefits once they turn 62, albeit for reduced monthly payments. A good number of early filers therefore won't get the new benefit. More on retirement: Dave Ramsey offers urgent thoughts about MedicareJean Chatzky shares major statement on Social SecurityTony Robbins has blunt words on IRAs,401(k)s Also, the bonus deduction sunsets in 2028. So while seniors on Social Security might get to enjoy a temporary tax break, whether it's truly the "largest tax break in history" may be up for debate. Related: Social Security COLA for 2026: What Retirees Can Expect The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Axios
2 hours ago
- Axios
Thune's pre-August ambassador spree
President Trump is outpacing former President Biden — and even his own first-term clip — in getting his ambassadors confirmed by the Senate. Why it matters: Trump wants to go even faster. Senate Majority Leader John Thune (R-S.D.) is threatening to keep the chamber in session this weekend to clear more of Trump's nominations. But Democrats have been unwilling to speed up the process and are withholding unanimous consent for nominees — a practice Republicans grumble is a departure from tradition. By the numbers: Trump has 26 ambassadorial nominees who are awaiting a full Senate vote. This includes former Rep. Mike Waltz, whom the Senate Foreign Relations Committee approved last week to be Trump's UN envoy. Nineteen of those nominees are ambassadors to foreign countries. The Senate has confirmed 11 of Trump's ambassadors to foreign countries so far, compared to six confirmations before August in the initial year of his first term. Biden didn't have a single ambassador confirmed before August in the first year of his term. Former Presidents Bush and Obama had both confirmed more than 20, but that was when the opposition party was not putting up quite as much of a procedural fight. What to watch: The Foreign Relations Committee will take up another five ambassador nominees in a hearing on Tuesday.
