The Budget Bill Is Creating a Republican Existential Crisis
The Republican budget bill, a $3.7 trillion tax cut packaged with $1.2 trillion in spending cuts, is deeply problematic legislation from almost any perspective — including those of its authors. The Congressional Budget Office has the details about how it will be expensive and ineffectual. But for Republicans, President Donald Trump's 'big, beautiful bill' is creating what amounts to an existential crisis.
For half a century, Republicans have been committed to the policy of lower taxes to aid the economy — impervious to any evidence that tax cuts are inefficient and prohibitively expensive. At this point, to walk away from the bill is to abandon their economic raison d'etre.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Newsweek
11 minutes ago
- Newsweek
Senator Says War Powers Resolution Against Trump Will Have GOP Support
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. Senator Tim Kaine, a Virginia Democrat, says that Republican lawmakers in his chamber have expressed support in voting for a War Powers Resolution following President Donald Trump's authorization to strike three Iranian nuclear facilities on Saturday. Newsweek has reached out to Kaine's office via email for comment. Why It Matters Trump on Saturday evening announced what he described as a "very successful attack" against three Iranian nuclear sites at Fordow, Natanz, and Isfahan. The president's decision came after Israel and Iran have exchanged consistent strikes since June 13. Israel had urged the U.S. to target Iran's nuclear facilities, saying that Tehran was moving close to creating a nuclear weapon. Iran maintains that its nuclear program is for civilian purposes—not for weapons. The strikes have sparked concerns from some Democrats and some Republicans about a wider war breaking out—with some lawmakers accusing the president of violating the U.S. Constitution with the strikes. Kaine's resolution pending in the Senate has been mimicked in the U.S. House of Representatives, where Republican Representative Thomas Massie of Kentucky and Democratic Representative Ro Khanna of California introduced a resolution last Tuesday. What To Know The War Powers Resolution of 1973 was enacted to limit the president's ability to commit U.S. armed forces to hostilities abroad without congressional consent. Kaine told Punchbowl News on Monday that he is privy to Senate GOP support of his resolution, saying that lawmakers have expressed interest in signing off on whether Congress and not just the president should have a say to attack other nations. "I know I will have Republican support. How much is unclear," Kaine said. "The day-to-day events will affect is a very evolving situation." A vote that requires a simple majority for passage is expected to happen before the chamber's July 4 recess, the senator added. Kaine's latest remarks come one day after he told Shannon Bream on Fox News Sunday that Trump's order to strike Iran went beyond traditional protocols outlined in the Constitution and gives him "grave concern." "It's unconstitutional for a president to initiate a war like this without Congress," Kaine said on Sunday. "Every member of Congress needs to vote on this." It harkens back to the politics that led to the invasion of Iraq in 2003, Kaine added, saying the present moment mirrors two decades ago when a Republican president and administration gave "false information" about Iraq's weapons program. Senator Tim Kaine, a Virginia Democrat, speaks at a press conference at the U.S. Capitol on April 2 in Washington, D.C. Senator Tim Kaine, a Virginia Democrat, speaks at a press conference at the U.S. Capitol on April 2 in Washington, People Are Saying Senator Tim Kaine, a Virginia Democrat, said in a press release: "It is not in our national security interest to get into a war with Iran unless that war is absolutely necessary to defend the United States. I am deeply concerned that the recent escalation of hostilities between Israel and Iran could quickly pull the United States into another endless conflict." Representative Ro Khanna, a California Democrat, said in a statement: "Stopping Iran from having a nuclear bomb is a top priority, but dragging the U.S. into another Middle East war is not the solution. Trump's strikes are unconstitutional and put Americans, especially our troops, at risk. Congress needs to come back to DC immediately to vote on Rep. Thomas Massie and my bipartisan War Powers Resolution to ensure there is no further conflict and escalation. Americans want diplomacy, not more costly wars. We need to deescalate and pursue a path of peace." Representative Thomas Massie, a Kentucky Republican, wrote on X, formerly Twitter, on Sunday: "I introduced a War Powers Resolution on Tuesday, while Congress was on vacation. We would have had plenty of time to debate and vote on this." What Happens Next? Along with the resolutions introduced by Kaine, and jointly by Massie and Khanna, other lawmakers are also reportedly going to introduce similar war powers legislation. Democratic Representatives Gregory Meeks of New York, Adam Smith of Washington, and Jim Himes of Connecticut—ranking members of the Foreign Affairs, Armed Services and Intelligence committees, respectively—are drafting their own War Powers resolution, according to Punchbowl. Also, 12 Democrats in the House—all military veterans—sent a letter to the White House on Monday, asserting congressional authority over war powers. In response to the U.S. strikes on Iran, the country's foreign minister said Iran reserves "all options to defend its sovereignty." The U.S. military is preemptively preparing for any attack from Tehran.
Forbes
12 minutes ago
- Forbes
‘Everyone, Keep Oil Prices Down,' Trump Says Without Context
President Donald Trump issued a warning to keep oil prices down in a cryptic Truth Social post Monday that comes amid fears oil and gas prices could surge if Iran retaliates against U.S. strikes by shutting down the Strait of Hormuz. President Donald Trump returns to the White House prior to a meeting with his National Security ... More Council to discuss the ongoing conflict between Iran and Israel on June 21, 2025 in Washington, DC. (Photo by Craig Hudson For The Washington Post via Getty Images) The Washington Post via Getty Images 'Everyone, keep oil prices down,' Trump said in an all-caps post, writing 'I'm watching! You're playing right into the hands of the enemy. Don't do it!' It's unclear who Trump was referring to, but it's possible he was addressing oil producers. In a subsequent post directed at the Department of Energy, Trump wrote 'DRILL, BABY, DRILL!!! And I mean NOW!!!' The Energy Department does not drill for oil, but manages the Strategic Petroleum Reserve and provides research and policy support related to oil production, among other industry-adjacent functions. Oil prices were flat Monday following the U.S. military's surprise attacks on three Iranian nuclear facilities over the weekend, but analysts warned prices could surge if Iran retaliates by closing the Strait of Hormuz, a key transportation route for oil and gas that links the Persian Gulf to the Arabian Sea. 30%. That's how much oil prices could rise, to up to $110 per barrel, if Iran moves to close the Strait and oil flow declines 50% for at least one month, Goldman Sachs cautioned Monday. Prices for international oil were flat Monday at $77 per barrel by 10 a.m. EDT. Key Background Iran has vowed to respond to the attack, with its Foreign Minister Abbas Araghchi tweeting early Sunday that it 'reserves all options,' calling the attack 'outrageous' and vowing that it would 'have everlasting consequences.' Iranian parliament has approved a plan to potentially shut down the Strait, Iranian state media reported after the U.S. attacks Saturday. A quarter of global oil and 20% of liquefied natural gas is transported through the 90-mile waterway, according to The New York Times, which notes most of the oil that passes through the Strait goes to Asia. Iran would likely shut down the Strait by lacing it with mines, requiring the U.S. military to engage in a potentially dangerous demining operation, The Times notes. Rising Oil Prices Could Spike Another 30% If Iran Blocks Strait Of Hormuz, Goldman Warns (Forbes) U.S. Strikes Iran: 'Suspicious Package' Halts Miami Metro As U.S. Cities On Alert (Forbes) Trump's Strike On Iran Draws Criticism From Democrats—World Leaders Call For De-escalation (Forbes)
Los Angeles Times
12 minutes ago
- Los Angeles Times
GOP tax bill would ease regulations on gun silencers and some rifles and shotguns
WASHINGTON — The massive tax and spending cuts package that President Trump wants on his desk by July 4 would loosen regulations on gun silencers and certain types of rifles and shotguns, advancing a longtime priority of the gun industry as Republican leaders in the House and Senate try to win enough votes to pass the bill. The guns provision was first requested in the House by Georgia Rep. Andrew Clyde, a Republican gun store owner who had initially opposed the larger tax package. The House bill would remove silencers — called 'suppressors' by the gun industry — from a 1930s law that regulates firearms that are considered the most dangerous, eliminating a $200 tax while removing a layer of background checks. The Senate kept the provision on silencers in its version of the bill and expanded upon it, adding short-barreled, or sawed-off, rifles and shotguns. Republicans who have long supported the changes, along with the gun industry, say the tax infringes on Second Amendment rights. They say silencers are mostly used by hunters and target shooters for sport. 'Burdensome regulations and unconstitutional taxes shouldn't stand in the way of protecting American gun owners' hearing,' said Clyde, who owns two gun stores in Georgia and often wears a pin shaped like an assault rifle on his suit lapel. Democrats are fighting to stop the provision, which was unveiled days after two Minnesota state legislators were shot in their homes, as the bill speeds through the Senate. They argue that loosening regulations on silencers could make it easier for criminals and active shooters to conceal their weapons. 'Parents don't want silencers on their streets, police don't want silencers on their streets,' said Senate Democratic leader Charles E. Schumer, D-N.Y. The gun language has broad support among Republicans and has received little attention as House Speaker Mike Johnson, R-La., and Senate Majority Leader John Thune, R-S.D., work to settle differences within the party on cuts to Medicaid and energy tax credits, among other issues. But it is just one of hundreds of policy and spending items included to entice members to vote for the legislation that could have broad implications if the bill is enacted within weeks, as Trump wants. Inclusion of the provision is also a sharp turn from the climate in Washington just three years ago when Democrats, like Republicans now, controlled Congress and the White House and pushed through bipartisan gun legislation. The bill increased background checks for some buyers under the age of 21, made it easier to take firearms from potentially dangerous people and sent millions of dollars to mental health services in schools. Passed in the summer of 2022, just weeks after the shooting of 19 children and two adults at a school in Uvalde, Texas, it was the most significant legislative response to gun violence in decades. Three years later, as they try to take advantage of their consolidated power in Washington, Republicans are packing as many of their longtime priorities as possible, including the gun legislation, into the massive, wide-ranging bill that Trump has called 'beautiful.' 'I'm glad the Senate is joining the House to stand up for the Second Amendment and our Constitution, and I will continue to fight for these priorities as the Senate works to pass President Trump's One Big Beautiful Bill,' said Texas Sen. John Cornyn, who was one of the lead negotiators on the bipartisan gun bill in 2022 but is now facing a primary challenge from the right in his bid for reelection next year. If the gun provisions remain in the larger legislation and it is passed, silencers and the short-barrel rifles and shotguns would lose an extra layer of regulation that they are subject to under the National Firearms Act, passed in the 1930s in response to concerns about mafia violence. They would still be subject to the same regulations that apply to most other guns — and that includes possible loopholes that allow some gun buyers to avoid background checks when guns are sold privately or online. Larry Keane of the National Shooting Sports Foundation, who supports the legislation, says changes are aimed at helping target shooters and hunters protect their hearing. He argues that the use of silencers in violent crimes is rare. 'All it's ever intended to do is to reduce the report of the firearm to hearing safe levels,' Keane says. Speaking on the floor before the bill passed the House, Rep. Clyde said the bill restores Second Amendment rights from 'over 90 years of draconian taxes.' Clyde said Johnson included his legislation in the larger bill 'with the purest of motive.' 'Who asked for it? I asked,' said Clyde, who ultimately voted for the bill after the gun silencer provision was added. Clyde was responding to Rep. Maxwell Frost, a 28-year-old Florida Democrat, who went to the floor and demanded to know who was responsible for the gun provision. Frost, who was a gun-control activist before being elected to Congress, called himself a member of the 'mass shooting generation' and said the bill would help 'gun manufacturers make more money off the death of children and our people.' Among other concerns, control advocates say less regulation for silencers could make it harder for law enforcement to stop an active shooter. 'There's a reason silencers have been regulated for nearly a century: They make it much harder for law enforcement and bystanders to react quickly to gunshots,' said John Feinblatt, president of Everytown for Gun Safety. Schumer and other Democrats are trying to convince the Senate parliamentarian to drop the language as she reviews the bill for policy provisions that aren't budget-related. 'Senate Democrats will fight this provision at the parliamentary level and every other level with everything we've got,' Schumer said earlier this month. Jalonick writes for the Associated Press.
