Latest news with #Crapo
Politico
4 hours ago
- Business
- Politico
When will Finance produce?
Presented by NFIB With help from Benjamin Guggenheim WHAT YOU GOT? It's all eyes on the Senate Finance Committee, which is working to produce its especially key portion of the GOP megabill. Senate GOP leaders had hoped that the Finance Committee would be able to release its work this week. But it looks like the panel's portion of the Republican fiscal package will get pushed into the following week, as it deals with dicey issues like the higher cap for state and local deductions that might be crucial to getting a bill through the House and the phasing out of green energy incentives that has caused some heartburn in the Senate. All of which underscores the particular microscope currently on Finance Chair Mike Crapo (R-Idaho), who's charged with producing a tax section that responds to the concerns of his Senate colleagues — without upending a fragile peace in the House, where the Republican fiscal package passed by a single vote. It's far from Crapo's first difficult set of negotiations, as Pro Tax's Benjamin Guggenheim noted. But it might be the highest stakes that the Finance chair has faced in his more than three decades in Congress — six years in the House, followed by 26 and counting in the Senate. The questions for Crapo are likely to only get tougher this week, with his committee now expected to need more time to craft a tax section. The Finance chair is expected to start briefing his Senate GOP colleagues on the measure by the middle of the week. Still, don't expect him to let too much slip in public about where Finance might go on key issues in the interim, as he works on a tax package that seeks to preserve the expiring parts of the Trump tax cuts and deliver on other tax relief items. MORE ON THAT in a bit. Welcome back to Weekly Tax, where we have to say that this is among our parental fears. Back when there were fewer metaphors in a horse race: Today marks 52 years since Secretariat won the Triple Crown by dominating the Belmont Stakes — winning by 31 lengths and in a time (2:24) that's still the fastest a horse has ever run a mile and a half on dirt in the U.S. Help get this newsletter to the finish line. Send your best tips and feedback. Email: bbecker@ bfaler@ bguggenheim@ and teckert@ You can also reach us on Twitter at @berniebecker3, @tobyeckert, @brian_faler, @ben_guggenheim, @POLITICOPro and @Morning_Tax. Want to receive this newsletter every weekday? Subscribe to POLITICO Pro. You'll also receive daily policy news and other intelligence you need to act on the day's biggest stories. A QUICK BACKWARDS GLANCE: Let's be clear — Crapo might work quietly, but he's also not afraid to throw his weight around. He had no issues, for instance, killing a bipartisan tax bill a year ago that had broad support in both the House and among Senate Democrats. That's made for some interesting dynamics between Crapo and House Ways and Means Chair Jason Smith (R-Mo.), who helped write that bipartisan agreement, as Benjamin noted — though the two promise they've had no issues working closely on the tax negotiations in front of them. Worth discussing: Crapo's decision to work against the 2024 bipartisan agreement affected more than just the interpersonal dynamics in this year's talks. For instance, Crapo has been very explicit about wanting to permanently restore a trio of incentives for businesses that are either lapsed or phasing out. He's not alone in that among Senate Republicans, though the House was only able to revive those preferences through 2029. But here's the wrinkle: The math on enacting immediate research write-offs, full expensing for capital investments and a more generous interest deduction might be easier if last year's bipartisan tax deal had been enacted. That's because the 2024 agreement would have already brought back those three tax breaks for businesses, which is important because Crapo also wants to use a budget baseline that assumes that it costs nothing to extend the temporary parts of the Tax Cuts and Jobs Act. It's not clear whether the current policy baseline will fly with hardline deficit hawks in the House. But if it does, then having the three business incentives currently in place likely would mean that extending them would cost nothing against the baseline as well, instead of being a roughly half-trillion dollar proposition. Now, Republicans are in the midst of an internal debate about both the budget math in enacting those provisions permanently, and how they can best be employed to help the economy. LOTS OF TRADE-OFFS: Still, advocates for those three business breaks sound confident that Senate Republicans will find a way to make them permanent. And it's worth noting that Crapo scored other victories by killing last year's agreement. Crapo publicly criticized 2024's proposed expansion of the Child Tax Credit, which included help for lower-income families, arguing that it diminished work incentives for the program. As it happens, the 2025 tax bill includes a CTC expansion that's more up Crapo's alley, with the benefits largely funneled more to the middle of the income scale. That's prompted some criticism from advocates for lower-income people, who maintain that the proposal needlessly leaves behind those who need the child credit the most. For instance, researchers from the Center on Poverty and Social Policy at Columbia University found that a standard family of two adults and two children would need to make a third more — $48,000 a year, instead of $36,000 — to get the full CTC under the House GOP bill. Looking ahead: Outside advocates are still trying to nudge Republicans toward an even more generous CTC expansion in their bill, after some of the party's populists — like Vice President JD Vance and Sen. Josh Hawley (R-Mo.) — have called for a far more sweeping credit. For instance, the National Baptist Convention of America and Jabez Ministries are out with similar letters this morning that urge Senate Majority Leader John Thune and House Speaker Mike Johnson to think more about those at the bottom of the income ladder. GOP policymakers, the groups wrote, should 'continue exploring ways to help working families keep more of their hard-earned money through policies that make the CTC fully refundable against all taxes and by providing optional flexibility in the timing of how it's paid out.' The driving force behind those letters was Tony Lowden, the lead pastor and founder of Jabez Ministries. Lowden was formerly the pastor of Maranatha Baptist Church in Plains, Ga., where his congregants included former President Jimmy Carter and his wife, Rosalynn Carter. A NOT SO MID INCENTIVE: Here's something that hasn't proved to be much of an issue for Republicans this year — extending the limits on the mortgage interest deduction first enacted in TCJA. The mortgage interest deduction was for many years thought to be a third rail in tax policy — too controversial for policymakers to restrain, despite many experts thinking its benefits accrued too much to better-off taxpayers. Then the Trump tax cuts lowered the amount of mortgage on which a taxpayer can deduct their interest, from $1 million to $750,000. And now, the Yale Budget Lab is out today with a new report examining further possibilities for cutting the deduction. For instance, getting rid of the MID for second homes could raise more than $100 billion over a decade, the group found. Also worth noting, from the group: The House's proposal to hike the SALT cap from $10,000 to $40,000 would nearly double how much the tax system subsidizes mortgage interest. Around the World Financial Times: 'UK special investigations team doubles tax haul in crackdown on the rich.' Bloomberg: 'Brazil Lawmakers Gear Up for Fight Over Corporate Tax Exemptions.' Also Bloomberg: 'ION Founder to Pay €280 Million to Settle Tax Probe: Carlino.' Around the Nation 'Ohio has spent a decade cutting income taxes: How much has it saved you?' Iowa Capital Dispatch: 'Gov. Kim Reynolds signs unemployment insurance tax bill into law.' Wyoming Public Radio: 'Electeds might do away with Wyoming's ability to tax property.' Also Worth Your Time From the Golden State: 'Newsom floats withholding federal taxes as Trump threatens California.' What's happening at OMB? 'Like Elon Musk, Russ Vought wants to break Washington. Unlike the billionaire, the budget guru might just succeed.' Associated Press: 'Trump's tariffs could pay for his tax cuts — but it likely wouldn't be much of a bargain.' Did you know? Secretariat also holds the record for fastest time in the Kentucky Derby and the Preakness Stakes.
Politico
10 hours ago
- Business
- Politico
Mike Crapo's megabill Mission: Impossible
Presented by IN TODAY'S EDITION:— What we expect on tax policy this week— Johnson's rescissions problem— The impact of Graham's Russia sanctions It's shaping up to be an enormously consequential week for President Donald Trump's legislative agenda, and there's one lawmaker at the center of it all: Senate Finance Chair Mike Crapo. This morning we're going to zoom in on the Idaho Republican and his mammoth to-do list, which includes resolving make-or-break fights over tax policy, Medicaid cuts and clean-energy credits. (Benjamin is out with an even deeper dive that our POLITICO Pro readers got first on Sunday.) The soft-spoken Crapo has been stealthily working to coordinate changes to the 'big, beautiful' bill. It's looking like he won't release his committee's piece of the package until next week, with several outstanding policy issues unresolved. Senate Finance is expected to begin going through bill text with members and staff beginning today, and Crapo is expected to brief the broader Senate Republican conference mid-week. 'We're working as aggressively as we can to move as fast as we can,' Crapo says. Crapo's leaning on a cadre of trusted advisers. Finance staff director Gregg Richard, chief tax counsel Courtney Connell and deputy chief tax counsel Randy Herndon are among his critical staff on the bill. Crapo is known for his spare words — trust us, we've tried to get more out of him — but also for his history of landing deals. One of his biggest wins was the 2018 law that eased the Dodd-Frank banking law — an effort that required bringing along Democrats to help serve up a Trump administration victory. He also flexed as a deal-killer last year, blocking a tax revamp negotiated by House Ways and Means Chair Jason Smith and then-Senate Finance Chair Ron Wyden. Last year's clash soured the relationship between Crapo and Smith, yet the two have found a way to work together to deliver Trump's latest round of tax cuts. 'We've been communicating very closely so we each know what the other is thinking,' Crapo says. Now Crapo faces his biggest test yet as he tries to resolve Senate clashes over razor's edge deals that Smith and other top House Republicans struck to pass their version of the bill. Some of those conflicts are within Senate Finance itself, with Sen. Thom Tillis pushing for changes to 'no tax on tips' and Sen. James Lankford wanting to scale back planned endowment taxes on private universities. Crapo's personal priority? He is the leading advocate for using a legislative accounting method known as current policy baseline that would treat the extension of Trump's 2017 tax cuts as costing nothing. This is a big flash point between him and fiscal hardliners. If he succeeds in the Senate, Crapo's compromise will have to survive the House. Some top House Republicans are urging him to go easy on them. 'Mike Crapo is a brilliant senator and he's instrumental on the tax stuff and everything else. You got to respect his opinion,' Majority Whip Tom Emmer tells Mia. 'But at the end of the day, I hope they leave it right where it's at.' Look for other Senate committees to release their megabill text this week: HELP and Energy on Tuesday; Agriculture on Wednesday; and Homeland Security and Judiciary on Thursday, according to our latest intel. Agriculture text though may slide to later this week or possibly into next week as several governors are now raising concerns about plans for federal food aid. GOOD MONDAY MORNING. Follow our live coverage at the Inside Congress blog at and email your Inside Congress scribes at bguggenheim@ mmccarthy@ lkashinsky@ and bleonard@ THE SKED The House is in session. Members are set to vote on resolutions denouncing the Boulder, Colo. terrorist attack and renaming the House Press Gallery the 'Frederick Douglass Press Gallery' at 6:30 p.m. — Rules will have a hearing on the HALT Fentanyl Act and a bill that would prohibit non-citizens from voting in Washington at 4 p.m. — Appropriations will hold a subcommittee markup for the fiscal 2026 DHS funding bill at 6 p.m. Bill text released Sunday night would provide DHS with $66.4 billion but doesn't have big increases for the department's immigration agencies as Republicans pursue billions for border security in the budget reconciliation bill. — House Republican and Democratic leadership will hold private meetings shortly before evening votes. The Senate is in session and voting on Brett Shumate's nomination to be an assistant attorney general and to end debate on David Fotouhi's nomination to be deputy administrator of the EPA at 5:30 p.m. — Senate Republican and Democratic leadership will hold private meetings shortly before evening votes. The rest of the week: The House will take up the rescissions package, HALT Fentanyl Act and immigration legislation targeting D.C. The Senate will work through Trump's nominations, including Stephen Vaden to be deputy secretary of Agriculture and Andrew Hughes to be deputy secretary of HUD. THE LEADERSHIP SUITE Johnson's rescissions problem House GOP leaders are planning a vote Thursday on a rescissions bill that would claw back $9.4 billion in funds Congress has approved for foreign aid and public broadcasting. But there's a new problem for Speaker Mike Johnson — at least 10 moderate Republicans have privately said they currently oppose the legislation, four people with direct knowledge tell Meredith Lee Hill. The holdouts have raised concerns about the impact of the cuts and questioned whether it's appropriate to let the White House slash funding that lawmakers approved. Johnson's leadership circle thinks they can flip the no votes and muscle the package through the floor this week. The first stop is the Rules Committee Tuesday. LA immigration clashes hit the Hill's agenda Escalating confrontations between law enforcement and protesters in Los Angeles over federal immigration policy are quickly being felt on Capitol Hill after Trump mobilized the National Guard to respond. Sen. Lindsey Graham and Stephen Miller, the deputy White House chief of staff, are among the GOP lawmakers and Trump administration officials using the clashes to call for passing the megabill to bolster immigration enforcement. Congressional Hispanic Caucus members talked through the situation in an emergency meeting late Sunday, our Nicholas Wu reports. And look for the issue to come up at tonight's House Appropriations subcommittee on DHS funding, which includes immigration enforcement. Johnson doubts Musk's megabill sway Johnson told ABC's 'This Week' on Sunday that he has texted with Elon Musk but not spoken with him since last Monday. But the speaker didn't appear worried about Musk's meltdown over the 'big, beautiful' bill. He said Republicans haven't received many constituent calls urging votes against the bill over Musk's complaints. Trump is warning Musk to back off of Congress, telling NBC News that he would face 'serious consequences' if he funds Democrats to run against Republicans who support the megabill. Sen. Cory Booker told NBC that he won't accept campaign contributions from Musk, but that the billionaire should 'get involved … in a more substantive way' against the budget reconciliation bill. ICYMI: House Republicans are making clear that they're sticking with Trump over Musk, Meredith reports with Hailey Fuchs and Ben Jacobs. 'Frankly, it's united Republicans even more to go and defend the great things that are in this bill — and once it's passed and signed into law by August, September, you're going to see this economy turning around like nothing we've ever seen,' House Majority Leader Steve Scalise said in an interview Friday. Stefanik returns to Intel Rep. Elise Stefanik, the chair of House Republican Leadership, is back on House Intelligence, where she served since 2017 before losing the assignment when she was tapped to be UN ambassador. To make the move work, the House is adding Democratic Rep. Steve Cohen to the panel rather than removing another Republican. POLICY RUNDOWN BANKING'S BYRD TEST — Senate Banking Chair Tim Scott is out with his panel's contribution to the GOP's megabill, amid concerns from his own Republican members that several provisions won't be allowed under Senate budget reconciliation rules, our Katherine Hapgood reports. A plan to zero out CFPB funding could run into problems with the so-called Byrd, which restricts proposals that have a negligible budget impact. ANOTHER CRAPO PROBLEM — Thirteen House Republicans led by Rep. Jen Kiggans are urging Senate leaders to rescue clean energy tax credits that the House-passed version of the GOP megabill would phase down, Kelsey Brugger reports. Most of the lawmakers supported the bill on the House floor. 'We believe the Senate now has a critical opportunity to restore common sense and deliver a truly pro-energy growth final bill that protects taxpayers while also unleashing the potential of U.S. energy producers, manufacturers, and workers,' they wrote to Crapo and Senate Majority Leader John Thune. THE IMPACT OF GRAHAM'S RUSSIA SANCTIONS — Graham's bipartisan bill to impose 'crushing' sanctions on Russia would cut the U.S. off from some of the world's largest economies with 500 percent tariffs on any country that buys Russian energy our Amy Mackinnon reports. Graham is proposing new carve-outs for countries that provide aid to Ukraine — a big help to the European Union — but some experts remain skeptical. The Trump administration is trying to get Graham to weaken the legislation, The Wall Street Journal reports. In the House, Pennsylvania Republican Rep. Brian Fitzpatrick is holding off pursuing a discharge petition to force action on similar legislation, preferring to wait for the Senate to pass the bill, three people with direct knowledge of the plans told Meredith. Best of POLITICO Pro and E&E: CAMPAIGN STOP MEDICAID ADS FLOOD SWING DISTRICTS — TV spots mentioning Medicaid have already run in more Republican-held districts this year than they did all of last cycle as Democrats look to use GOP's proposed cuts to the program as a campaign cudgel, according to a new analysis from our Jessica Piper, Elena Schneider and Holly Otterbein. STOP US IF YOU'VE HEARD THIS ONE — Texas Republicans' messy Senate primary between Sen. John Cornyn and state Attorney General Ken Paxton is giving Democrats hope of finally flipping the Lone Star State, Nicholas and Liz Crampton report. Their logic: Paxton is leading Cornyn in polls, including, as Ben reports, among those who identify themselves as part of the 'Trump movement.' Democrats believe a Paxton general-election candidacy could divide Republicans and potentially even sway some to support a Democrat. But first Democrats need a viable candidate. Former Reps. Colin Allred and Beto O'Rourke have signaled interest in another bid, but some Democrats want the party to look elsewhere. Rep. Joaquin Castro is looking at the race, while Rep. Marc Veasey ruled out a run. TUNNEL TALK BABBITT SETTLEMENT — The Trump administration will pay a nearly $5 million settlement in the lawsuit over the wrongful death of Ashli Babbitt, who was killed by a U.S. Capitol Police officer after storming the Capitol on Jan. 6, 2021, our Ali Bianco reports. Lawyers reached an agreement last month for a settlement, but no final deal was publicly disclosed until Friday. LIBRARY OF CONGRESS MOVES — Acting Librarian of Congress Robert Newlen is making personnel moves while the institution's leadership remains in limbo after Trump's attempted takeover last month, our Katherine Tully-McManus writes in. Edward Jablonski will serve as senior adviser to the acting librarian and was previously the library's chief operating officer. The COO role will be filled by Roberto A. Salazar, who's been serving in an acting capacity since March 3. Jablonski is a Navy veteran who has been at the Library since 2006. Salazar was appointed by President George W. Bush to serve as national administrator of the USDA Food and Nutrition Services — but before that he was a Senate Page. Former Librarian of Congress Carla Hayden spoke to CBS over the weekend about her firing by Trump. She said no one from the White House has talked to her directly, besides the brief email she received about her termination. THE BEST OF THE REST Breaking With Trump, Bacon Says He Won't Follow His Party 'Off the Cliff', from Annie Karni at The New York Times MTG flirts with Georgia governor bid, from Greg Bluestein at the Atlanta Journal-Constitution Republicans and Economists at Odds Over Whether Megabill Will Spur Growth Boom, from Richard Rubin at The Wall Street Journal CAPITOL HILL INFLUENCE Jason McMahon will join Valinor Enterprises to build out its federal strategy and government relations efforts. He previously was a professional staff member on the Senate Appropriations Committee. JOB BOARD Kevin Orellana will be a legislative assistant for Rep. Vince Fong, handling his financial services portfolio. He previously was a legislative aide for Rep. Young Kim. Gavin Proffitt is now a health policy adviser for Sen. Ron Johnson. He previously was a health policy adviser for the House Energy and Commerce Committee. Julianne Heberlein is now a speechwriter and press adviser for Sen. Deb Fischer. She previously was comms director for Rep. Rob Wittman and is a Larry Hogan alum. Chelsea Blink is now legislative director for Rep. Lauren Underwood. She previously was director of farm animal legislation at the ASPCA. Reedy Newton is now director of operations for Rep. Russell Fry. She previously was scheduler for Sen. Tim Scott and is a NRSC alum. Martina McLennan is now director of policy comms for economic and health policy at the Bipartisan Policy Center. She previously was comms director for Sen. Jeff Merkley. Emily Druckman is now comms director and senior adviser for Rep. Kim Schrier. She most recently was communications director for the National Electrical Manufacturers Association and formerly led comms for Rep. Marc Veasey. HAPPY BIRTHDAY Former Rep. Kendra Horn … Ray Salazar of House Minority Whip Katherine Clark's office … Joe Curl … Susannah Luthi … Margaret Talev … Liz Mair … Yonathan Teclu of Rep. Ilhan Omar's office … DSCC's Laura Matthews … Jess O'Connell of NEWCO Strategies … Dante Atkins … Candi Wolff of Citi … Ria Strasser-Galvis … Alexandra Toma … Lori Lodes of Climate Power … Democracy Forward's Skye Perryman … Daniel Rankin of Rep. Don Bacon's office … Aryele Bradford of Rep. Shomari Figures' office … Zac Petkanas … Semafor's Sara Amin TRIVIA FRIDAY'S ANSWER: Albert Wolf correctly answered that Rep. Laura Gillen was a scuba instructor in Thailand before she came to Congress. TODAY'S QUESTION, from Mia: The Declaration of Independence painting in the Capitol Rotunda is painted by which American painter? How many paintings does this painter have on display in the Rotunda? The first person to correctly guess gets a mention in the next edition of Inside Congress. Send your answers to insidecongress@
Politico
10 hours ago
- Business
- Politico
The stealth Senate dealmaker who could deliver Trump's tax cuts
Some of the most critical components of President Donald Trump's agenda are in the hands of a soft-spoken senator from Idaho who behind closed doors is one of Capitol Hill's most calculating dealmakers. Senate Finance Chair Mike Crapo is rushing to finalize his panel's portion of his party's massive legislative centerpiece. He could begin briefing colleagues on bill text as soon as Monday, according to a person granted anonymity to share an evolving schedule —while three people aware of the state of negotiations say a full tax package may not be ready for release until early next week. That package needs to unite 51 Republicans in the Senate without alienating more than three GOP members of the House. The fate of vast Republican tax cuts enacted in 2017, and set to expire at the end of this year, hangs in the balance. In interviews throughout the past several weeks in the halls of the Senate, as he shuffled between meetings and votes flanked by trusted advisers, Crapo played his cards close to his vest. Asked about how he planned to make sure a trio of expiring business tax cuts are made permanent, he replied, 'I'm just not going to comment.' On whether the Senate would make tweaks to controversial House Medicaid language: 'We're working that right now. I'm not going to get into the details.' On how negotiations were going over whether to lower the House agreement to increase the cap on the state-and-local-tax deduction to $40,000: 'We're looking at the entire bill.' Crapo is known for his spare words, but also for his history of landing deals — and squashing ones he doesn't like, such as last year when he tanked a bipartisan tax bill negotiated by then-Finance Chair Ron Wyden and the chair of the House Ways and Means Committee, Jason Smith. At the same time, longtime colleagues and aides say Crapo can sometimes play the role of committee consensus-builder to his detriment — and he may have to put that tendency aside as the clock ticks down to the GOP's self-imposed July 4 deadline to send Trump his 'big, beautiful bill.' The question is now whether Crapo can help broker an agreement at this political moment when he has never presided over a policy battle with such high stakes. 'Mike Crapo is probably one of the three most well-respected members of the Republican caucus. People trust him. He listens. He tells you the truth. He tries to be inclusive, sometimes to a fault,' said Sen. John Kennedy (R-La.) in an interview. 'He's quiet. He's really, really smart.' People who have worked closely with Crapo say he likes to slowly build agreement among his committee members, has seemingly infinite patience to work out issues and most likely won't take a position with Senate leadership until he feels like all of his fellow panel Republicans are on board. 'Crapo is a very thoughtful and deliberate lawmaker who has strong views on tax policy himself, but also who cares about what his committee members want,' said Joe Boddicker, a former tax counsel for Senate Finance Republicans under Crapo, now of the law firm Alston & Bird. 'He will try to incorporate the feedback from them, and he puts a high premium on that feedback … so it'll be a group product, one that reflects the viewpoints of the committee membership.' He has previously walked political tightropes to pull off difficult legislative wins. Among the most notable was in 2018, when, as chair of the Senate Banking Committee, Crapo crafted a rare bipartisan deal with red-state Democrats to loosen Dodd-Frank regulations on banks — the most significant overhaul of the rules since they were first created after the 2008 financial crisis. '[He] puts the time in on it. He's low-key, but he is a connector, a facilitator,' said Sen. Mike Rounds (R-S.D.), who worked closely with Crapo on the banking overhaul. 'He doesn't need the spotlight, but he is very, very effective.' But Crapo is getting an earful from his members right now about what the tax portion of the GOP megabill should look like. Sen. Thom Tillis (R-N.C.) wants to make the 'no tax on tips' proposal — a Trump campaign promise — more fair for blue-collar workers in certain industries. Meanwhile, Sen. James Lankford (R-Okla.) wants to scale back a tier of new endowment taxes on private universities, a favorite proposal from House Ways and Means Republicans. Crapo is fielding a host of concerns from an ideologically diverse group of Senate Republicans, from moderate Susan Collins of Maine to conservative Josh Hawley of Missouri, who say they won't vote for a bill that could result in people losing Medicaid coverage. And then there's Sen. Ron Johnson, a Finance member who has warned he could vote against the megabill if Republicans don't commit to massive reductions in spending. At the same time, Crapo has shown in the past he's not afraid to stand up for his own interests. He surprised his House counterparts last year when he quietly killed the bipartisan tax deal crafted by Smith and Wyden. He opposed many of the policies, including an expansion of the Child Tax Credit. But while he didn't know then how the 2024 elections would shake out, stymying that deal also left the door open for the scenario in which Crapo now finds himself: able to run point on a more sweeping, and wholly partisan, tax overhaul exercise under a GOP governing trifecta. The fallout, however, also soured the relationship between Crapo and Smith. Yet the two men have found a new way to work closely together over the last few months to deliver Trump's biggest legislative priorities through the filibuster-skirting budget reconciliation process. 'I think part of the problem is that Wyden and Smith got together and Crapo didn't feel like he was a full partner,' said Finance Republican Sen. John Cornyn of Texas regarding the prior episode. Cornyn added that the current political conditions have necessitated an accord between the two lawmakers. They'll have to work together. Their two committees differ on the questions of business tax permanence — which would cost around half a trillion dollars to implement — and how high to cap the SALT deduction — which all Finance Republics want lowered. And there's continued disagreement over using an accounting tactic to essentially paper over around $3.8 trillion of extensions of Trump's tax cuts. Smith says he's in favor of the maneuver, but House hard-liners are extremely skeptical of the idea. Senate Republicans, including Crapo, want to keep it in place. 'We've been communicating very closely so we each know what the other is thinking,' 74-year-old Crapo, who has served in the Senate for more than three decades, said in an interview of his working relationship now with 44-year-old Smith, who was elected to the House in 2013 and has a reputation for being more outwardly pugnacious. 'We each know what the other's politics are in their caucus,' Crapo continued, 'and we're trying to keep ourselves in a situation where there are as few differences as possible.' A spokesperson for Smith did not respond to a request for comment about the House member's rapport with the senator. The partnership will come in handy as Crapo faces enormous pressure from other members of House GOP leadership, who are urging the Senate not to make so many changes to the House-passed bill that it will slow down the bill's final passage — if not derail the effort altogether. 'Mike Crapo is a brilliant senator and he's instrumental on the tax stuff and everything else. You got to respect his opinion. But at the end of the day, I hope they leave it right where it's at,' said House Majority Whip Tom Emmer (R-Minn.) in an interview last week. Crapo, meanwhile, has expressed quiet confidence he will deliver a viable product — even as he deals with the competing demands of House leaders like Emmer, his fellow Finance Republicans and even the Senate parliamentarian, whose rulings could complicate his efforts. Asked recently about an anticipated parliamentary ruling on the accounting tactic, he managed to sum up his whole approach: 'I never declare victory until the game is over.' Jordain Carney and Mia McCarthy contributed to this report.
Yahoo
15-05-2025
- Business
- Yahoo
Senate to vote on Fiserv CEO for SSA post
This story was originally published on Payments Dive. To receive daily news and insights, subscribe to our free daily Payments Dive newsletter. The chairman of the U.S. Senate Finance Committee, Republican Sen. Mike Crapo, urged his colleagues Thursday to approve Fiserv CEO Frank Bisignano's nomination to become the next commissioner of the Social Security Administration. 'I am confident that Mr. Bisignano has the experience needed to lead this important agency," Crapo said during a Senate floor speech. "He has more than 30 years of executive leadership experience in banks and financial institutions." The full Senate will vote on Tuesday to decide if Bisignano will take the post. The Finance Committee approved his nomination on April 2. The Fiserv CEO faced criticism from Democrats in a March confirmation hearing over alleged ties to billionaire Elon Musk, the Tesla and SpaceX CEO who is leading the Department of Government Efficiency (DOGE), a controversial agency tasked with cutting government spending. Bisignano was cited in a March 24 whistleblower statement for allegedly intervening to onboard a DOGE employee who was then reportedly given access to Americans' personal information. Crapo dismissed any concerns over the whistleblower's allegations during his Senate floor speech and in a Thursday news release, calling the report "an anonymous letter." "Mr. Bisignano addressed these allegations during the hearing and responded in writing as part of the questions for the record," Crapo said in his speech. "He has stated clearly that he does not currently have a role at the Social Security Administration and was not part of the decision-making process led by the Acting Commissioner, Lee Dudek, about Social Security operations, personnel or management." Democrats on the finance committee also questioned Bisignano about possible cuts to Social Security — which Musk referred to as a "Ponzi scheme" on Joe Rogan's podcast — and asked if he opposed privatizing the social safety net program. Bisignano avoided directly answering those questions, but gave assurances that he would preserve social security benefits, which go to about 73 million Americans who are 62 or older. President Donald Trump nominated Bisignano to lead the Social Security Administration in December. Bisignano became Milwaukee-based Fiserv's CEO in 2020. Recommended Reading Get ready for FedNow
Yahoo
15-05-2025
- Health
- Yahoo
Proposed cuts to Medicaid, health care services will produce actual harm to Idahoans
Large cuts to Medicaid on top of the cuts in services already being rolled out will produce actual harm, real hardship and catastrophic overload for Idaho families caring for family members with disabilities, writes guest columnist Gary Sandusky. (Photo by) U.S. Mike Sen. Mike Crapo, R-Idaho, should be lauded for his vocal and enthusiastic support of increasing and renewing the Child Tax Credit. It is one of those pandemic-era programs that made a big difference in a working, Idaho family's ability to survive and thrive during tough times. In many ways, the times have not improved. It is not easy or inexpensive to have and raise kids in 2025, and Sen. Crapo's support for the Child Tax Credit reflects a sensitivity to that challenge. Amid protests and Democratic pushback, U.S. House GOP launches work on Medicaid cuts I would like to see him extend the same support to the 89,000 Idaho families that do not have enough income to qualify for the tax credit under the proposed guidelines. Those families face the same costs and the same challenges, but they have fewer resources to deal with it. But on the issue of the proposed cuts to Medicaid, Sen. Crapo's statements are much more cautious. I first met Sen. Crapo in 1989 when I was working with a group of people attempting to move the state of Idaho to adopt Personal Care Services as an option of the state's Medicaid program. We met in his office during the time he served as the Idaho Senate's president pro tempore. He agreed to let our bill get a hearing, a controversial stance due to the opposition of some in the Idaho Legislature. He struck me as fair minded and willing to do the right thing, even if that thing was controversial. By 1990, a Personal Care Services bill was signed by Gov. Cecil Andrus and the program has subsequently allowed elders to stay in their own home, with assistance, rather than being placed in a nursing home. And it has given people with disabilities, who otherwise would be institutionalized, the option to live in community. Fast forward to 2025 and the national clamor to cut Medicaid due to waste, fraud, and abuse. Sen. Crapo has stated that he is not in favor of cutting benefits or coverage under Medicaid, but it is possible to cut the budget without technically changing the rules about coverage and benefits. It hardly matters if one qualifies for benefits and coverage if the dollars are not there to make it a reality. Cutting the budget will result in fewer people being served, services being cut out, and new recipients on waiting lists for years. Idaho has avoided wait lists, and most people with disabilities cannot wait for years to access services. What always gets lost in this loud and vocal conversation that implies that users of Medicaid are engaging in waste, fraud and abuse is the unavoidable fact that big cuts to the Medicaid budget nationally will fall heavily on people with disabilities. The result will be life threatening harm to the same people we were working to protect in 1990 – elders and people with disabilities. I personally know many adults with disabilities and families caring for their disabled family member. The suggestion that the families and individuals I know are engaging in waste or abuse is beyond outrageous. They carry huge burdens even with Medicaid assisting them. The pandemic took a nationwide toll on the services for people with disabilities. The headline of an article last week from Disability Scoop, a national newspaper on disability-related issues stated, 'Nation's Disability Services System Begins To Buckle As Funding Threats Intensify.' And this characterization of services for people with disabilities was about other cuts being pushed through the U.S. Department of Health and Human Services — before the proposed cuts to Medicaid have landed. Large cuts to Medicaid on top of the cuts in services already being rolled out will produce actual harm, real hardship and catastrophic overload for Idaho families caring for family members with disabilities. Surely that is not a good strategy to address waste, fraud, and abuse. It is more like an inquisition than problem solving. Sen. Crapo needs to exhibit the same fair mindedness we witnessed in 1989 as we discussed personal care services, the same sensitivity that he is exhibiting for the plight of Idaho families raising children in 2025 – AND he should stand up for Medicaid with the same vocal enthusiasm he has brought to the Child Tax Credit. It is the right thing to do, even if it is a controversial stand within his own party. SUBSCRIBE: GET THE MORNING HEADLINES DELIVERED TO YOUR INBOX
