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Yahoo
6 days ago
- Business
- Yahoo
CBO says Trump agenda bill would add trillions to the national debt
June 4 (UPI) -- The nonpartisan Congressional Budget Office announced Wednesday that the Trump legislative agenda bill approved by GOP House representatives would tack more than $2.4 trillion to the national debt over a decade. That comes out to be slightly higher than the CBO's past projection of $2.3 trillion in new debt. The CBO, in conjunction with the nonpartisan Joint Committee on Taxation, said that during a 10-year period, the Trump agenda bill would not only decrease revenues by $3.7 trillion, it would cut spending by $1.3 trillion, which would sink the United States over $2.4 trillion deeper in the red. The $2.4 trillion CBO conclusion is also due in part to revisions made by GOP House leaders to get the Republican member who had held out for either a higher state and local tax, or SALT, deduction, or a provision of a quicker trigger on Medicaid work requirements. The CBO also noted that the legislation would increase the number of Americans without health insurance by 10.9 million by 2034, lowering gross benchmark premiums by an estimated 12.2%, due to cuts to Medicaid and the Affordable Care Act. Trump's bill is now with the Senate, where some Republicans want to make revisions before potentially passing it by July 4, while others have expressed flat-out negative reactions to the bill. Republican Sen. Rand Paul, R-Ky. posted to X Tuesday that "another $5 trillion in debt is a huge mistake," while Sen. Ron Johnson, R-Wis., bluntly spoke on CNBC Wednesday, and said "This is immoral what us old farts are doing to our young people. This is grotesque," and "I won't vote for it." Republicans only hold a three-seat majority in the Senate, where it is unlikely any Democrats will vote in favor of the Trump bill.
UPI
6 days ago
- Business
- UPI
CBO says Trump agenda bill would add trillions to the national debt
1 of 5 | President Donald Trump points to the crowd before boarding Marine One on the South Lawn of the White House in Washington, D.C., on May 30. The nonpartisan Congressional Budget Office announced Wednesday that the president's legislative agenda bill approved by GOP House representatives would tack more than $2.4 trillion to the national debt over a decade. Photo by Bonnie Cash/UPI | License Photo June 4 (UPI) -- The nonpartisan Congressional Budget Office announced Wednesday that the Trump legislative agenda bill approved by GOP House representatives would tack more than $2.4 trillion to the national debt over a decade. That comes out to be slightly higher than the CBO's past projection of $2.3 trillion in new debt. The CBO, in conjunction with the nonpartisan Joint Committee on Taxation, said that during a 10-year period, the Trump agenda bill would not only decrease revenues by $3.7 trillion, it would cut spending by $1.3 trillion, which would sink the United States over $2.4 trillion deeper in the red. The $2.4 trillion CBO conclusion is also due in part to revisions made by GOP House leaders to get the Republican member who had held out for either a higher state and local tax, or SALT, deduction, or a provision of a quicker trigger on Medicaid work requirements. The CBO also noted that the legislation would increase the number of Americans without health insurance by 10.9 million by 2034, lowering gross benchmark premiums by an estimated 12.2%, due to cuts to Medicaid and the Affordable Care Act. Trump's bill is now with the Senate, where some Republicans want to make revisions before potentially passing it by July 4, while others have expressed flat-out negative reactions to the bill. Republican Sen. Rand Paul, R-Ky. posted to X Tuesday that "another $5 trillion in debt is a huge mistake," while Sen. Ron Johnson, R-Wis., bluntly spoke on CNBC Wednesday, and said "This is immoral what us old farts are doing to our young people. This is grotesque," and "I won't vote for it." Republicans only hold a three-seat majority in the Senate, where it is unlikely any Democrats will vote in favor of the Trump bill.
Yahoo
7 days ago
- General
- Yahoo
White House: ‘No plans' for Trump to issue Pride Month proclamation
President Trump has 'no plans' to issue a proclamation recognizing June as Pride Month or dedicate it to any other group or cause, White House press secretary Karoline Leavitt said Tuesday. 'There are no plans for a proclamation for the month of June,' Leavitt said during a media briefing at the White House, 'but I can tell you this president is very proud to be a president for all Americans, regardless of race, religion or creed.' Trump declined to issue proclamations recognizing Pride Month throughout his first term, though he briefly acknowledged it on social media in 2019 while touting his administration's efforts to decriminalize homosexuality worldwide, the first Republican president to do so. 'As we celebrate LGBT Pride Month and recognize the outstanding contributions LGBT people have made to our great Nation, let us also stand in solidarity with the many LGBT people who live in dozens of countries worldwide that punish, imprison, or even execute individuals on the basis of their sexual orientation,' Trump wrote on the social platform X, then Twitter, six years ago. 'My Administration has launched a global campaign to decriminalize homosexuality and invite all nations to join us in this effort!' Former President Clinton, a Democrat, issued the first presidential proclamation designating June 'Gay and Lesbian Pride Month' in 1999. A declaration issued in 2011 by former President Obama expanded the scope to include bisexual and transgender people. The White House's decision comes amid a broader backlash against Pride and a political climate that is increasingly hostile to the LGBTQ community, particularly transgender people. Opponents of LGBTQ rights this week criticized U.S. companies that publicly acknowledged Pride with social media posts or by temporarily changing the colors of their corporate logos. A group of congressional Republicans accused PBS of 'grooming' children after 'Sesame Street,' one of the nonprofit TV network's flagship programs, shared a post recognizing Pride Month on Sunday. Rep. Mary Miller (R-Ill.), one of the GOP House members to criticize PBS and 'Sesame Street,' introduced a resolution Tuesday declaring June 'Family Month,' which she said would 'reject the lie of 'Pride' and instead honor God's timeless and perfect design.' 'The American family is under relentless attack from a radical leftist agenda that seeks to erase truth, redefine marriage and confuse our children,' Miller told the Daily Wire, a conservative news outlet, in an interview published Tuesday. On Monday, the Education Department said it was declaring June 'Title IX Month,' after the 1972 law against sex discrimination that the Trump administration has argued prohibits transgender women and girls from competing on female school sports teams. Trump's decision not to formally recognize Pride Month also comes as WorldPride, the international LGBTQ Pride event, takes place this month in Washington. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
The Hill
7 days ago
- General
- The Hill
White House: ‘No plans' for Trump to issue Pride Month proclamation
President Trump has 'no plans' to issue a proclamation recognizing June as Pride Month, or dedicate it to any other group or cause, White House press secretary Karoline Leavitt said Tuesday. 'There are no plans for a proclamation for the month of June,' Leavitt said during a media briefing at the White House, 'but I can tell you this president is very proud to be a president for all Americans, regardless of race, religion or creed.' Trump declined to issue proclamations recognizing Pride Month throughout his first term, though he briefly acknowledged it on social media in 2019 while touting his administration's efforts to decriminalize homosexuality worldwide, the first Republican president to do so. 'As we celebrate LGBT Pride Month and recognize the outstanding contributions LGBT people have made to our great Nation, let us also stand in solidarity with the many LGBT people who live in dozens of countries worldwide that punish, imprison, or even execute individuals on the basis of their sexual orientation,' Trump wrote on the social platform X, then Twitter, six years ago. 'My Administration has launched a global campaign to decriminalize homosexuality and invite all nations to join us in this effort!' Former President Bill Clinton, a Democrat, issued the first presidential proclamation designating June 'Gay and Lesbian Pride Month' in 1999. A declaration issued in 2011 by former President Barack Obama expanded the scope to include bisexual and transgender people. The White House's decision comes amid a broader backlash against Pride and a political climate that is increasingly hostile to the LGBTQ community, particularly transgender people. Opponents of LGBTQ rights this week criticized U.S. companies that publicly acknowledged Pride with social media posts or by temporarily changing the colors of their corporate logos. A group of congressional Republicans accused PBS of 'grooming' children after 'Sesame Street,' one of the nonprofit TV network's flagship programs, shared a post recognizing Pride Month on Sunday. Rep. Mary Miller (R-Ill.), one of the GOP House members to criticize PBS and 'Sesame Street,' introduced a resolution Tuesday declaring June 'Family Month,' which she said would 'reject the lie of 'Pride' and instead honor God's timeless and perfect design.' 'The American family is under relentless attack from a radical leftist agenda that seeks to erase truth, redefine marriage and confuse our children,' Miller told The Daily Wire, a conservative news outlet, in an interview published Tuesday. On Monday, the Education Department said it was declaring June 'Title IX Month,' after the 1972 law against sex discrimination that the Trump administration has argued prohibits transgender women and girls from competing on female school sports teams. Trump's decision not to formally recognize Pride Month also comes as WorldPride, the international LGBTQ Pride event, takes place this month in Washington.
Yahoo
28-05-2025
- Business
- Yahoo
Former GOP Speaker agrees with pushback against state's 'corporate welfare' plan
The Brief Currently, some Republicans and Democrats have aligned against the governor's plan they call "corporate welfare." Former GOP House Speaker Jase Bolger recently did an interview where he weighed in on the situation. Bolger agrees with the effort and says business incentives used by southern states should be considered. LANSING, Mich. (FOX 2) - Jase Bolger is the former GOP House Speaker who is part of a very unusual alliance. What they're saying Conservative Republicans have locked arms with progressive Democrats in the legislature - their plan is to quash Governor Gretchen Whitmer's incentive packages to dole out money to get more jobs. Those progressives and conservatives call the program "corporate welfare" - and Bolger agrees. "Yes I do, and it's not working," he said. The current House GOP Speaker Matt Hall is leading this charge against the governor to get rid of these incentives. Bolger, who now runs the West Michigan Policy forum argues that cash windfalls and tax breaks should be the last thing offered, and the first thing, is what they should be doing down south. "When you look at southern states they've got things like no income tax, they've got things like right to work, they've got a much better unemployment system, workers comp system and legal structure. There are a lot of underlying (things) like cutting red tape. "The incentives - if they happen, they are the last thing. not the first thing." When Governor Rick Synder was elected, he opposed financial incentives and did "gardening" to keep jobs here. However, by the time he left office, he too, was doling out the money. Bolger argued that Snyder was wrong. "I think he was," he said. "He had the first part (on gardening) right. I think the second part he got badgered into doing it." Governor Gretchen Whitmer argued if Michigan doesn't offer these dollars it amounts to unilateral disarmament, meaning other states will poach the jobs here, while the governor watches. She does not want that. This political tug of war continues on Mackinac Island at a political business conference with the winner yet to be determined. The Source This report is from an interview with Jase Bolger.
