logo
Republicans squabble over Trump spending plan as Fiscal Year 2026 looms: 'Stay until we pass it'

Republicans squabble over Trump spending plan as Fiscal Year 2026 looms: 'Stay until we pass it'

Yahoo06-05-2025

President Donald Trump is proposing staggering spending cuts.
In his budget request for fiscal year 2026, the president demands that Congress slash an eye-popping 20% of spending which lawmakers allocate each year.
"You're going to see $150 billion (in cuts) passed in the House and the Senate. That is real money," said Budget Director Russ Vought on Fox News. "I think for the first time, this budget is not dead on arrival."
To be clear, the budget which Mr. Trump sent to Capitol Hill is aspirational. All presidential budgets are. It's what a president proposes that lawmakers – and his administration – aim to spend for the upcoming fiscal year. Congress is still charged with voting on the 12 annual spending bills which fund the government. The 20% cut proposed by President Trump deals with that area of spending.
Reporter's Notebook: Where We Stand With Trump's 'Big, Beautiful Bill'
The Trump administration characterized this blueprint as a "skinny" budget. That's because it included nothing about Medicare and Medicaid. Those social programs consume exorbitant chunks of federal spending – far exceeding what Congress appropriates each year. Congressional Republicans aim to make alterations of some kind to these programs in their so-called "big, beautiful bill." Republicans insist those programs won't endure cuts. But a "cut" is in the eye of the beholder.
Read On The Fox News App
"We're going to move towards a long-term balanced budget. I like how we're thinking long-term instead of short-term," said Rep. Mike Haridopolos, R-Fla., on Fox News.
To be clear, the framework for the GOP's big, beautiful bill does not balance the budget. In fact, it increases the budget deficit. And Mr. Trump's budget package doesn't balance either. There's no way to understand such a path unless you include Medicare and Medicaid.
But here's what Mr. Trump's budget request does do:
It eliminates dollars from every federal department and agency, except the Departments of Transportation and Veterans Affairs. Space programs and NASA are also safe, too.
"This is how you break the Swamp," declared the House Freedom Caucus. "The FY '26 budget is a paradigm shift."
The president's proposal knifes the Department of Housing and Urban Development by 40%. It axes the Departments of Labor and Interior by 30%.
Top Senate Armed Services Republican Says Trump Omb's Budget 'Shreds To The Bone' Military Capabilities
However, dollars for the Pentagon are essentially flat.
Defense hawks were apoplectic.
Senate Armed Services Committee Chairman Roger Wicker, R-Miss., torched Mr. Trump's outline.
"Trump successfully campaigned on a Peace Through Strength agenda. But his advisers at the Office of Management and Budget (OMB) were apparently not listening," fumed Wicker. "For the defense budget, OMB has requested a fifth year straight of Biden administration funding, leaving military spending flat, which is a cut in real terms."
Wicker accused OMB of trying to "shred to the bone" the nation's military.
Former Senate Majority Leader Mitch McConnell, R-Ky., chairs the Senate defense appropriations panel, charged with funding the Pentagon.
"It is peculiar how much time the President's advisors spend talking about restoring peace through strength, given how apparently unwilling they've been to invest accordingly in the national defense or in other critical instruments of national power," said McConnell.
"I am very concerned the requested base budget for defense does not reflect a realistic path to building the military capability we need to achieve President Trump's Peace Through Strength agenda," said House Armed Services Committee Chairman Mike Rogers, R-Ala.
With friends like these…
Trump Slams Republican 'Grandstanders' Opposing Budget Bill, Predicts Massive Us Tax Increases If It Fails
Vought fired back at Congressional defense advocates and their allegations that the budget request undercut the military.
"It's an inaccurate charge. We provide a trillion dollars in national defense spending. 13% increase. We do it in two components," said Vought. "We use discretionary spending. And then we put in a historic paradigm all of our increases on defense and Homeland Security. We use it in reconciliation so that we only need to use Republican votes. We don't want Democrats to have the filibuster as a veto to then hijack the appropriations process and say no to the Homeland Security spending."
Let me fillet that statement for you.
In other words, Vought asserts that some of the funding increases for the Pentagon will come through "budget reconciliation," the process Republicans are now using to pass the big, beautiful bill. Republicans intend to pass that package with only GOP votes. But if Republicans included that military money in a "regular" appropriations bill, Democrats may demand "parity." They would insist that non-defense programs score the same increase in exchange for advancing those bills – and voting to overcome a filibuster. So Vought argues his approach keeps Democrats from holding Pentagon dollars hostage in exchange for money targeted toward other programs.
But Democrats are focused on what Republicans may try to do with Medicare and Medicaid. They argue that Republicans are teeing up cuts.
"Hospitals will close. Nursing homes will shut down. Communities will be hurt. And Americans will die," said House Minority Leader Hakeem Jeffries, D-N.Y.
Republicans insist those programs won't face cuts.
"The question is, will we be susceptible to the fear-mongering and the false rhetoric that you just heard from the Democrat Minority Leader in the House? And this is the same tired play they run," said House Budget Committee Chairman Jodey Arrington, R-Texas, on Fox News. "We will be rewarded because we're doing this for the sustainability of these programs for the most vulnerable."
Trump Says Public Entitlements Like Social Security, Medicaid Won't Be Touched In Gop Budget Bill
Still, even some remain apprehensive about how the GOP will handle those programs.
"If you want to be in the minority forever, then go ahead and do Medicaid cuts," said Sen. Josh Hawley, R-Mo. "That would be catastrophically stupid."
House Speaker Mike Johnson, R-La., Ways and Means Committee Chairman Jason Smith, R-Mo., and Energy and Commerce Committee Chairman Brett Guthrie, R-Ky., met President Trump at the White House late last week to discuss the big, beautiful bill. The White House gave Congressional leaders a wish list of items it wants in the bill – and what can fall by the wayside.
Tax credits for electric vehicles are out.
"I don't have a problem if somebody wants to go buy an electric vehicle. I just don't think hardworking Americans should be subsidizing that," said House Administration Committee Chairman Bryan Steil, R-Wisc., on Fox News.
Republicans hope to use money generated from the sale of EVs to shore up the Highway Trust Fund. The government used the federal gas tax to pay for construction of roads and bridges. But Congress hasn't adjusted the gas tax since the mid-1990s. Plus, more EVs and hybrids are now on the road. And conventional vehicles which rely on gas are more fuel efficient. So this shores up some of those depleted coffers.
House Freedom Caucus Embraces Trump Budget Proposal 'Paradigm Shift'
Johnson is sticking by his goal to pass the bill through the House by Memorial Day. But some Republicans doubt that timeline.
"There's no way," said Sen. Ron Johnson, R-Wisc., on Fox Business. "Unfortunately, President Trump chose the one big, beautiful (bill). What he should have done is the multiple-step process."
In other words, lawmakers could have addressed the border, tax cuts and spending cuts in individual chunks. Loading everything onto one legislative truck makes this hard.
So can the House approve this in two weeks? There's not a lot of consensus yet. But maybe they'll try to wear Members down.
"We will stay until we pass it," said one senior House GOP leadership source.Original article source: Republicans squabble over Trump spending plan as Fiscal Year 2026 looms: 'Stay until we pass it'

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Oracle (ORCL) Unveils AI Upgrades to Utilities Platform to Streamline Operations and Cut Costs
Oracle (ORCL) Unveils AI Upgrades to Utilities Platform to Streamline Operations and Cut Costs

Yahoo

time23 minutes ago

  • Yahoo

Oracle (ORCL) Unveils AI Upgrades to Utilities Platform to Streamline Operations and Cut Costs

We recently published a list of . In this article, we are going to take a look at where Oracle Corporation (NYSE:ORCL) stands against other buzzing AI stocks on latest news and ratings. On June 3rd, Oracle Corporation (NYSE:ORCL) unveiled AI-powered enhancements to the Oracle Utilities Customer Platform, helping deliver fast, accurate meter data management (MDM) and streamlining utility operations. The enhancements aim to simplify work for employees and improve performance across the platform, which powers metering, operations, and billing, sales and account management, customer service, and customer engagement, all in a single solution. A team of IT professionals meticulously crafting a large-scale enterprise performance management system. According to Oracle, the AI enhancements not only accelerate data processing speeds but also cut down operational costs and improve utility customer service. The Oracle Utilities Customer Platform integrates embedded AI and a unified data framework to help utility companies make smarter decisions using accurate meter readings. 'Globally, utilities have a multibillion-dollar opportunity to use AI to transform customer service and operations. With system complexity, costs, and customer needs all growing, it's getting difficult and expensive for many utilities to keep up. We're helping utilities tackle these challenges in ways just now becoming possible. By bringing AI and in-memory meter data processing into the Oracle Utilities Customer Platform, we're helping our clients streamline operations, cut costs, and deliver a more satisfying customer experience.' Oracle Corporation (NYSE:ORCL) is a database management and cloud service provider. Overall, ORCL ranks 4th on our list of buzzing AI stocks on latest news and ratings. While we acknowledge the potential of ORCL as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Micron (MU) Ships World's First 1-Gamma LPDDR5X to Power Faster, Smarter AI Smartphones
Micron (MU) Ships World's First 1-Gamma LPDDR5X to Power Faster, Smarter AI Smartphones

Yahoo

time23 minutes ago

  • Yahoo

Micron (MU) Ships World's First 1-Gamma LPDDR5X to Power Faster, Smarter AI Smartphones

We recently published a list of . In this article, we are going to take a look at where Micron Technology, Inc. (NASDAQ:MU) stands against other buzzing AI stocks on latest news and ratings. On June 3rd, Micron Technology, Inc. (NASDAQ:MU) announced shipping of the world's first 1γ (1-gamma) node-based low-power double data rate 5X (LPDDR5X) memory. Known to be a game-changer for the mobile industry, it has the ability to accelerate AI applications on flagship smartphones. The Micron LPDDR5X delivers faster, smoother mobile experiences and longer battery life for users. This is true even when operating data-intensive workloads such as AI-powered translation or image generation. A close-up view of a computer motherboard with integrated semiconductor chips. Next-generation smartphone designs are competing to be as compact as possible, and the LPDDR5X package size boasts to be the industry's thinnest package of 0.61 millimeters. This makes it 6% thinner compared to competitive offerings, and marks a 14% height reduction from the previous generation. As such, Micron's latest offering offers users a whopping 20% power savings, offering users the ability to enjoy their favorite AI applications, games, and video content longer on a single charge. Moreover, data center servers, intelligent vehicles, and AI PCs may also adopt the LPDDR5X for achieving optimized power efficiency and high performance. 'Micron's 1-gamma node-based LPDDR5X memory is a game-changer for the mobile industry. This breakthrough technology delivers lightning-fast speeds and remarkable power efficiency — all within the industry's thinnest LPDDR5X package — paving the way for exciting new smartphone designs. This solution demonstrates our commitment to empowering the ecosystem to create extraordinary mobile experiences.' Micron Technology, Inc. (NASDAQ:MU) develops and sells memory and storage products for data centers, mobile devices, and various industries worldwide. Overall, MU ranks 5th on our list of buzzing AI stocks on latest news and ratings. While we acknowledge the potential of MU as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Vance says Musk making a ‘huge mistake' in going after Trump but also tries to downplay the attacks
Vance says Musk making a ‘huge mistake' in going after Trump but also tries to downplay the attacks

Hamilton Spectator

time24 minutes ago

  • Hamilton Spectator

Vance says Musk making a ‘huge mistake' in going after Trump but also tries to downplay the attacks

BRIDGEWATER, N.J. (AP) — Vice President JD Vance said Elon Musk was making a 'huge mistake' going after President Donald Trump in a storm of bitter and inflammatory social media posts after a falling out between the two men. But the vice president, in an interview released Friday after the very public blow up between the world's richest man and arguably the world's most powerful, also tried to downplay Musk's blistering attacks as an 'emotional guy' who got frustrated. 'I hope that eventually Elon comes back into the fold. Maybe that's not possible now because he's gone so nuclear,' Vance said. Vance's comments come as other Republicans in recent days have urged the two men, who months ago were close allies spending significant time together, to mend fences. Musk's torrent of social media posts attacking Trump came as the president portrayed him as disgruntled and 'CRAZY' and threatened to cut the government contracts held by his businesses. Musk, who runs electric vehicle maker Tesla, internet company Starlink and rocket company SpaceX, lambasted Trump's centerpiece tax cuts and spending bill but also suggested Trump should be impeached and claimed without evidence that the government was concealing information about the president's association with infamous pedophile Jeffrey Epstein. 'Look, it happens to everybody,' Vance said in the interview. 'I've flown off the handle way worse than Elon Musk did in the last 24 hours.' Vance made the comments in an interview with ' manosphere' comedian Theo Von, who last month joked about snorting drugs off a mixed-race baby and the sexuality of men in the U.S. Navy when he opened for Trump at a military base in Qatar. The vice president told Von that as Musk for days was calling on social media for Congress to kill Trump's 'Big Beautiful Bill,' the president was 'getting a little frustrated, feeling like some of the criticisms were unfair coming from Elon, but I think has been very restrained because the president doesn't think that he needs to be in a blood feud with Elon Musk.' 'I actually think if Elon chilled out a little bit, everything would be fine,' he added. Musk appeared by Saturday morning to have deleted his posts about Epstein. The interview was taped Thursday as Musk's posts were unfurling on X, the social media network the billionaire owns. During the interview, Von showed the vice president Musk's claim that Trump's administration hasn't released all the records related to sex abuser Jeffrey Epstein because Trump is mentioned in them. Vance responded to that, saying, 'Absolutely not. Donald Trump didn't do anything wrong with Jeffrey Epstein.' 'This stuff is just not helpful,' Vance said in response to another post shared by Musk calling for Trump to be impeached and replaced with Vance. 'It's totally insane. The president is doing a good job.' Vance called Musk an 'incredible entrepreneur,' and said that Musk's Department of Government Efficiency, which sought to cut government spending and laid off or pushed out thousands of workers, was 'really good.' The vice president also defended the bill that has drawn Musk's ire, and said its central goal was not to cut spending but to extend the 2017 tax cuts approved in Trump's first term. The bill would slash spending but also leave some 10.9 million more people without health insurance and spike deficits by $2.4 trillion over the decade, according to the nonpartisan Congressional Budget Office. Musk has warned that the bill will increase the federal deficit and called it a 'disgusting abomination.' 'It's a good bill,' Vance said. 'It's not a perfect bill.' He also said it was ridiculous for some House Republicans who voted for the bill but later found parts objectional to claim they hadn't had time to read it. Vance said the text had been available for weeks and said, 'the idea that people haven't had an opportunity to actually read it is ridiculous.' Elsewhere in the interview, Vance laughed as Von cracked jokes about famed abolitionist Frederick Douglass' sexuality. 'We're gonna talk to the Smithsonian about putting up an exhibit on that,' Vance joked. 'And Theo Von, you can be the narrator for this new understanding of the history of Frederick Douglass.' The podcaster also asked the vice president if he 'got high' on election night to celebrate Trump's victory. Vance laughed and joked that he wouldn't admit it if he did. 'I did not get high,' he then said. 'I did have a fair amount to drink that night.' The interview was taped in Nashville at a restaurant owned by musician Kid Rock, a Trump ally. Error! Sorry, there was an error processing your request. There was a problem with the recaptcha. Please try again. You may unsubscribe at any time. By signing up, you agree to our terms of use and privacy policy . This site is protected by reCAPTCHA and the Google privacy policy and terms of service apply. Want more of the latest from us? Sign up for more at our newsletter page .

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store