Latest news with #budgetplan
Yahoo
24-05-2025
- Health
- Yahoo
Dems gear up for midterms: ‘The last time they cut Medicaid, we booked the House'
On Thursday, House Republicans narrowly passed a budget plan that would remove health care coverage for nearly 14 million Americans on Medicare and Medicaid, according to the Congressional Budget Office. Congresswoman Lauren Underwood joins 'The Weekend' to discuss how Democrats plan to make this a defining issue in the midterms.
BBC News
22-05-2025
- Business
- BBC News
US House passes Trump tax and spending mega-bill
Update: Date: 13:15 BST Title: Trump's centrepiece budget plan explained in 100 words Content: Trump, and other Republicans, have been calling this the "big, beautiful" bill. Centring on tax and spending cuts - the legislation would take tax cuts brought in during Trump's first term as well as bringing in additional measures. Other priorities for the president are to eliminate taxes on tips, spend more on defence and border security and cut government health care programmes including Medicaid - a healthcare programme aimed at lower-income Americans. The bill had been met with criticism from some Republicans, as well as the Democrats. Some were concerned the cuts would be detrimental to lower-income individuals, others wanted the bill to go further. Update: Date: 13:03 BST Title: 'The fight is just beginning', Democrats say Content: Calling the bill the "GOP Tax Scam", the Democrats have pledged to use "every tool at [their] disposal" to fight against it. In a joint statement written by Democratic Leader Hakeem Jeffries, Whip Katherine Clark and Caucus Chair Pete Aguilar, they say: "Donald Trump's One Big Ugly Bill will mean millions of families will pay higher premiums, copays and deductibles. "Hospitals will close, nursing homes will shut down and communities will suffer." The statement says the bill is "deeply unpopular" - accusing the Republicans of advancing it "during the dead of night". "For more than 28 hours, beginning with Rules Committee Ranking Member Jim McGovern, Democrats forced Republicans to debate this toxic legislation before the American people," it continues. "This fight is just beginning." Update: Date: 12:47 BST Title: Watch moment Trump's mega-bill passes in the House Content: This video can not be played Moment Trump's 'mega-bill' passes in the US House of Representatives Update: Date: 12:37 BST Title: A 'once-in-a-generation legislation', says Speaker Mike Johnson Content: We can now bring you some reaction from House Speaker Mike Johnson who calls the bill a "generational, nation-shaping legislation". In a statement published after the bill had been passed, he writes: "The media and the Democrats have consistently dismissed any possibility of House Republicans succeeding in our mission to enact President Trump's American First agenda. "Once again they have been proven wrong." Johnson adds that House Democrats voted against the bill - suggesting this proves they want things like "tax hikes" and "open borders". "We look forward to the Senate's timely consideration of this once-in-a-generation legislation and stand ready to continue our work together to deliver The One Big Beautiful Bill to the president's desk." Update: Date: 12:19 BST Title: Trump's 'big, beautiful, bill' now heads to the Senate Content: Mike WendlingBBC News Many of US President Donald Trump's top priorities are in the legislation: extending tax cuts passed in 2017, eliminating taxes on tips, spending more on defence and border security, and cutting government health care programmes. The president has called his proposal a "big, beautiful, bill" – the measure is now officially known as the "One Big Beautiful Bill Act" The Congressional Budget Office (CBO) estimates the bill would add about $2.3tn (£1.7tn) to the US national debt over the next 10 years. Trump campaigned on promises to reduce the US budget deficit - meaning the annual gap between the government's tax revenue and its spending - which currently stands at around $36.2tn (£27tn). Now that the bill has won approval in the House, it will head to the Republican-led Senate, which could make its own changes. Update: Date: 12:13 BST Title: Bill passes 215 to 214 Content: The package passed the House on party lines - 215 votes to 214. "Legislation of this magnitude is truly nation shaping and life changing," said House Speaker Mike Johnson before the vote, which capped an all-night debate. "It's the kind of transformational change that future generations will study one day. "They'll look back at this day as a turning point in American history." Update: Date: 12:06 BST Title: Trump's 'mega-bill' passes the House Content: A massive tax and spending bill has just been passed by the US House of Representatives. The so-called mega-bill would extend tax cuts from President Donald Trump's first term, end taxes on tips, and increase military and border spending. The bill still needs to pass the Senate. We'll have more news and analysis in this page as it happens.
Fox News
22-05-2025
- Fox News
My family tried living European-style austerity. One state's insane energy agenda wants that as a model
Recently, my five kids got a taste of European living. We visited Big Ben and the Tower of London — and back at our Airbnb, we sweltered in 80-degree heat with no A/C and hung our laundry to dry. They loved the sightseeing. The no-air-conditioning part? Not so much. In Maryland, our summer electricity bills soar as temperatures rise. Every now and then, the utility company includes cheerful tips to cut costs along with our bill — suggestions like turning the A/C down or off and line-drying laundry. Well, I just spent a week doing exactly that. Let's just say I have no plans to make it a permanent lifestyle. This summer, we're bracing for even higher bills and potential outages. On especially hot days, we were already getting texts from our energy provider warning of strain on the grid. It's only going to get worse this year. When we first moved in and signed up for service with our energy company, we opted for a budget plan. Then we learned it came with a catch: they could cut or reduce our power during peak demand. That constant cycling on and off ended up breaking our already-finicky HVAC system. The savings from that program shaved a few dollars off our bill every month — but it cost us over $10,000 in a new HVAC unit. The way to lower our costs isn't these bait-and-switch programs, but changing the irresponsible way our state government handles our energy. Increased usage with the seasonal weather changes isn't the only reason costs are climbing. Maryland residents are now paying more to import electricity from out of state, thanks to lawmakers who pushed to shut down coal and natural gas plants — our primary energy sources — without any viable alternatives in place. Maryland's climate goals are nothing if not ambitious: a 60% reduction in emissions by 2031 and net-zero by 2045. But these targets seem less like a plan and more like numbers pulled from a hat. No roadmap, no accountability, and certainly no grasp of the real-world impact on families like mine. Worse, Maryland began phasing out power plants with no replacement ready to go. Only 7% of our electricity comes from renewables, so we're importing more — at higher cost. Those costs are, of course, passed directly to taxpayers. It doesn't stop there. The governments of Baltimore, Annapolis and Anne Arundel County are pursuing lawsuits against energy companies, blaming them for climate change. These suits claim fossil fuel companies have long known their products were damaging the planet. Suing them doesn't cool our homes; it's an exercise in futility. But the cost of fighting this litigation passes more costs down to their constituents: businesses and families just trying to survive. If successful, these lawsuits could force energy companies to pay billions. Those costs won't come from corporate profits — they'll show up on our bills. Companies may leave the state or raise rates just to keep the lights on. Meanwhile, taxpayers are funding feel-good programs that are failing to deliver real results. One such program: Maryland taxpayers shelled out $51 million to promote electric vehicles and build charging stations. Watchdog groups say these programs lost money and failed to accomplish their goals. These issues aren't unique to Maryland. We rank 14th worst in the country for electric costs — and 13 of those 14 states are deep blue. What does that tell you? As summer heats up, families in progressive-run states face tough choices: rework the family budget or hang up a clothesline and start sleeping in the basement. I'm charmed by parts of European living — but I'm not signing up for the whole package. Worse, Maryland began phasing out power plants with no replacement ready to go. Only 7% of our electricity comes from renewables, so we're importing more — at higher cost. Those costs are, of course, passed directly to taxpayers. One would think, after seeing how the government in England has tried to force renewable energy onto its citizens, and the crushing financial burden it has placed on residents, that the rest of the world would have learned from their mistakes. As in the U.K., we know that, especially for folks like a single mom or recent immigrant living paycheck to paycheck, they don't just find high energy costs inconvenient — they're potentially financially devastating. They mean the difference between making rent or not, between dinner on the table or an empty fridge. There was a time when progressives loved to say, "Check your privilege." Funny, we don't hear much of that anymore — especially from the policymakers pushing costly climate agendas that burden the very people they claim to represent. Handsomely paid legislators are spending our money in their pursuit of their own progressive ideology and agendas.
BBC News
20-05-2025
- Business
- BBC News
Trump pressures Republicans in Congress to back budget plan
The fate of US President Donald Trump's centrepiece budget plan remains mired in uncertainty despite a last minute, in-person pitch to House Republicans on departed the comfortable confines of the White House for a far more raucous setting - Capitol Hill - where he tried to rally squabbling factions within his party to back his "big, beautiful" members are at odds over changes to healthcare and tax deductions in the bill, which also includes about $4.9tr (€3.7tn) in tax who wants it passed by 26 May, is amping up pressure on Republicans to support it. Some conservative hardliners pushing for deeper cuts but are meeting fierce resistance from moderates. It was obvious something big was happening on Capitol Hill from blocks away, as lines to get into different congressional buildings wrapped around coupled with scurrying Secret Service agents lining the halls were just some of the signs of a distinguished guest: Trump's pitch earned him the support of some House Republicans, not all left the meeting enthused and ready to support the bill. The measure still needs to pass a full House vote before it heads to the Senate, where Republicans there have their own qualms with the downplayed dissent from some conservatives when he spoke to reporters after meeting House Republicans."This was a meeting of love, there was great unity in that room," Trump said. "We're going to have a great victory."Others in his party weren't so emphatic. "As it stands right now, I do not support the bill," said Congressman Mike Lawler of New York. The President has emphasised that the bill gets rid of the "waste fraud and abuse" included in the budget, but not all Republican members agreed on what means. Much of the division in the party centres on changes to state and local tax deductions - known as Salt. The bill proposes to triple the allowable deduction from from $10,000 to $30,000 for irked Republicans in states with higher taxes, such as New York, California and New Jersey, who are pushing for a higher cap. Lawmakers in those states argue a higher cap will give relief for middle-class Americans in high-taxed Lawler appeared frustrated, saying he wouldn't back the measure in the upcoming full house vote."While I respect the President, I'm not budging on it," Lawler a half a dozen members are similarly standing firm, threatening to hold out support. EXPLAINER: Four sticking points in Trump's 'big, beautiful' tax billTrump mega-bill takes one step closer to House vote Beyond the Salt dissenters, Republicans in both legislative chambers remain divided on perhaps the most contentious element of the bill - cuts to the healthcare program designed to assist lower-income support tightening eligibility requirements for Medicaid, while others fear the proposal goes too bill currently would require that states deny Medicaid coverage, which is offered for free or a very low-cost, if able-bodied Americans using the programme are not working at least 80 hours a month or undertaking other community options - from 2029, after Trump has left private meetings with Republicans, Trump reportedly sought to ease concerns that his planned cuts were too deep. Congressman Jodey Arrington, chair of the budget committee, said members found Trump's pitch convincing."His push to unify, keep the focus on reducing spending, on rooting out waste and reminding us what's at stake was exactly the right message, and the right tone," Arrington that view wasn't universal."The president I don't think convinced enough people that the bill is adequate the way it is," said Republican Representative Andy Harris, who leads the hard-right House Freedom Caucus. He's among Republicans pushing for deeper cuts to week, the legislation failed to pass a key a procedural committee vote, giving Trump his first legislative bruise of his second Sunday, days after the first vote failed, the bill cleared its first hurdle and passed the committee in a 17-16 is now lobbying Republicans as the bill heads for a full House vote where his party has a narrow majority and cannot afford to lose support.A full House vote is expected on Wednesday or Thursday.
News24
14-05-2025
- Business
- News24
Republicans advance Trump's tax cut plan after all night debate
Republicans advanced trillions-dollar budget plan, including tax cuts, sparking debates over debt and benefits for low-income Americans. GOP proposed Medicaid and SNAP cuts, potentially affecting millions, amid protests and sharp opposition from Democrats. Extended tax breaks, borrowing $4 trillion, and canceled green energy initiatives to meet debt ceiling deadline. Republicans in the US Congress advanced elements of President Donald Trump's sweeping budget package on Wednesday after a debate that lasted through the night, as a key committee voted along party lines to approve tax cuts that would add trillions of dollars to the US debt. The 26-19 vote by the tax-writing House of Representatives Ways and Means Committee amounts to an initial victory for Republicans, who still have many hurdles to clear before they can get the sprawling package of tax cuts, spending hikes and safety-net reductions to Trump's desk to sign into law. The vote came after an all-night debate that saw at least one lawmaker fall asleep at his post. Republicans rejected a series of proposed changes by opposition Democrats, who blasted the bill as a wasteful giveaway to the wealthy that would shred health and food benefits for the poor and worsen the nation's financial standing. A separate House committee was still debating a Republican proposal to tighten eligibility for the Medicaid health plan, which covers 71 million low-income Americans, with a vote expected later in the day. That would save the federal government $715 billion and kick 7.7 million people off the programme, according to the non-partisan Congressional Budget Office. Police escorted out at least five protesters, including three who were in wheelchairs, at the outset of that debate on Tuesday. A third panel was due to resume debate on a proposal to require some people who receive SNAP food benefits to get a job and shift some costs to states. Trump's 'Big Beautiful Bill' would add trillions of dollars to the nation's debt load, which at $36.2 trillion now equals 127% of GDP. The package calls for $4 trillion in additional borrowing, though the total cost is uncertain at this point. It would extend tax cuts passed in Trump's first term, which are due to expire at the end of the year, and add new tax breaks for workers, retirees, and private schools. To offset some of the costs, the package would cancel green energy programmes passed under Democratic President Joe Biden. House agriculture committee chairman Representative Glenn Thompson, a Pennsylvania Republican, argued his party's proposed cuts to the SNAP food aid programme are meant to achieve savings and 'restore integrity' in administering the food programme. READ | We think the US has the wrong end of the stick, but we'll continue talking – Ramaphosa The Republican proposal requires 'states to have some skin in the game' and will get 'folks who can work, back to work,' Thompson said at a late Tuesday evening debate. Representative Angie Craig, the committee's top Democrat, excoriated the SNAP funding changes as 'the largest rollback of an anti-hunger programme in our nation's history.' Republicans will need to stay united to pass the bill out of the House, where they hold a narrow 220-213 majority. The proposal will also need to clear the Senate, which Republicans control 53-47. The country's looming debt ceiling deadline this summer is also pushing Republicans to work fast. The package would raise the debt limit by $4 trillion, and Treasury Secretary Scott Bessent has urged lawmakers to act by mid-July to avoid a default that would upend the global economy.
