Latest news with #spendingreduction
Fox News
20 hours ago
- Business
- Fox News
GOP leader vows to work through July 4th if necessary to deliver Trump's 'big beautiful bill'
Senate Majority Leader John Thune, R-S.D., says he's willing to keep senators on Capitol Hill through weekends and holidays, even rolling into the July 4th recess if necessary to pass the "big beautiful bill" now simmering in the Senate. "It is a huge priority, obviously, for the president. He campaigned on it," Thune said this weekend on "Fox News Sunday." "This is an agenda that we are all committed to, and we will roll into the 4th of July recess, if necessary, in order to get this on the president's desk." Republicans supportive of the bill fret that the Trump-backed measure won't reach the president's desk by the July 4th holiday. Texas Sen. Ted Cruz is among those doubtful. Addressing the concern, Thune told Fox News' Shannon Bream with confidence, "It'll get done." The South Dakota Republican also addressed those inside his own party reluctant to offer their "yeah" for the "big beautiful bill," with some citing concerns it could contribute to the deficit. Thune said, on the one hand, the bill contains "pro-growth" policies — tax, energy and regulatory in nature. On the other hand, he said, the bill would offer a massive spending reduction. "This will be the largest spending reduction in history," he said. "You're talking over a trillion, a trillion and a half, up to $2 trillion. We'll see where we finally end up in the Senate, but it will be a major reduction in spending, coupled with reforms to programs to get rid of waste, fraud, and abuse, and then also have on the other side pro-growth policies." "You get greater growth in the economy, more revenue here, spend less here, and pretty soon you can start seeing things balance out… But you have to start somewhere, and that's what this bill does."
Daily Mail
26-05-2025
- Business
- Daily Mail
Republican senators in mutiny as Trump's Big Beautiful Bill sparks MAGA crisis: 'He's no better than Biden'
Republican senators are breaking ranks with President Trump over his 'Big Beautiful Bill,' branding it 'not good for conservatives ' and vowing to vote against the proposed package for its huge increases. Budget hawks within the GOP, led by MAGA hardliner Sen. Ron Johnson of Wisconsin, have pledged to hold up the bill in the upper chamber unless it is significantly downsized. Johnson told CNN 's State of the Union that he was willing to risk Trump's wrath and leave the bill in limbo 'until the president gets serious about spending reduction and reducing the deficit.' The Republican said the Memorial Day holiday should give fellow senators time to reflect on 'the sacrifice of the finest among us' as they decide how they will vote. 'I don't think they served in sacrifice to leave our children completely mortgaged,' said Johnson, an otherwise fervent Trump supporter. Johnson, seen as the ringleader of the GOP mutiny against the bill, added in an appearance on the All In Podcast that if the measure passes in its current form, Republicans would be 'really no better than Democrats.' 'This is our one opportunity and right now we're blowing it,' he said, before boldly declaring: 'I can't be pressured by President Trump.' Johnson is not alone in stating his opposition to the bill, with others including Kentucky Sen. Rand Paul saying he 'can't support' the legislation's multi-trillion-dollar increase to the national debt ceiling. Senate Majority Leader John Thune has urged his fellow Republicans to support the bill, but it faces a narrow path forward after several senators voiced concerns. The GOP controls the senate 53-47, meaning Thune can lose only three votes, with Vice President JD Vance able to cast a tiebreaking vote if the chamber is deadlocked. Senators Rick Scott, Lindsay Graham and Mike Lee have not gone as far as Johnson and Paul in saying they will vote no on the bill, but they have also urged leaders to reduce its spending to gain their support. Graham broke out in laughter when CNN's Manu Raju asked him about 'spending cuts' in the bill, which the senator deemed 'not real.' He warned his fellow Republicans to not 'get high on our horse here that we've somehow made some major advancement of reducing spending, because we didn't.' The 'Big Beautiful Bill' is intended to be an encompassing piece of legislation to allow Trump to move forward with much of his agenda, with policies ranging from tax cuts to immigration. Medicaid has also come under the spotlight as it faces large cuts to its benefits, which Republican Senators Josh Hawley, Susan Collins, Lisa Murkowski and Jerry Moran have all said they would oppose, The Hill reported. The legislation brings large spending increases that the GOP has fought against in recent years, including raising the debt limit by over $4 trillion over the next two years. Paul said last week that if the bill is voted upon in its current form, he would reject it outright, and would only consider voting for it 'if they'll take the debt ceiling off of it.' 'We've never, ever voted to raise the debt ceiling this much. It'll be a historic increase,' he told reporters. 'I think it's not good for conservatives to be on record supporting a $4 or $5 trillion increase in the debt ceiling. 'It's not conservative, I can't support it.' The bill also faced opposition from Republican budget hawks when it moved through the House last week, with five GOP members of Congress voting against it - not enough to stop it being sent to the Senate. Johnson's appearance on the All In Podcast re-iterated his disapproval of the bill, as he said the 'first goal of this Republican budget reconciliation should be: Don't add to the deficit.' 'I voted for President Trump because I wanted him to defeat the deep state,' Johnson said. 'You don't defeat the deep state by continuing to fund it at Biden's levels.' Johnson explained to Fox Business last week why the bill is likely to struggle. 'Unfortunately, President Trump chose the one, Big Beautiful Bill,' he said. 'What he should have done is the multiple-step process. I suggested three steps: get the border funding, the second step, just extend current tax law, so we take an automatic tax increase off the table.' When asked if the bill would be passed by the end of the year, Johnson didn't mince words. 'Not if we don't come down with a reasonable pre-pandemic level of spending,' he said. 'There's enough of us in the Senate that will not agree to that.'
Fox News
23-05-2025
- Business
- Fox News
House GOP leadership takes victory lap after passing Trump's 'one big, beautiful bill'
House Republicans took a victory lap Thursday morning after passing President Donald Trump's "one big, beautiful bill." "It's finally morning in America again," House Speaker Mike Johnson, R-La., told reporters. The One Big Beautiful Bill Act passed 215 to 214. All Democrats and two Republicans, Reps. Thomas Massie, R-Ky., and Warren Davidson, R-Ohio, voted against the bill. House Freedom Caucus Chair Andy Harris, R-Md., voted "present." "Today, the House has passed generational, truly nation-shaping legislation to reduce spending and permanently lower taxes for families and job creators, secure the border, unleash American energy dominance, restore peace through strength and make government work more efficiently and effectively for all Americans," Johnson added. The bill is a victory for Trump and House Republicans, who overcame policy disagreements to deliver on Trump's key campaign promises, including an extension of his 2017 tax cuts and no tax on tips, overtime and Social Security. "We look forward to the Senate's timely consideration of this once-in-a-generation legislation. We stand ready to continue our work together to deliver on the one big, beautiful bill, as President Trump named it himself. We're going to send that to his desk. We're going to get there by Independence Day, on July 4th, and we are going to celebrate a new golden age in America," Johnson said. House leaders took turns Thursday thanking Republicans for rallying together to pass the bill. "Democrats made it very clear they didn't want to have any part in helping get America back on track again, but we were never fettered when this bill could have failed 10 times over. We said we were going to get this done, and failure is not an option. And we meant it," said House Majority Leader Steve Scalise, R-La. Trump celebrated his victory on Thursday in a Truth Social post. "Great job by Speaker Mike Johnson, and the House Leadership, and thank you to every Republican who voted YES on this Historic Bill! Now, it's time for our friends in the United States Senate to get to work, and send this Bill to my desk AS SOON AS POSSIBLE! There is no time to waste," Trump wrote. The multitrillion-dollar bill includes provisions to advance Trump's "America First" agenda by lowering taxes, securing the border, increasing national defense, reforming Medicaid and slashing Biden-era energy policies. The bill aims to make a dent in the federal government's spending trajectory by cutting roughly $1.5 trillion in government spending elsewhere. The U.S. government is still more than $36 trillion in debt and has spent $1.05 trillion more than it has collected in the 2025 fiscal year, according to the Treasury Department. "Take this as a lesson. Don't bet against the House Republicans. We've shown, time and time again, that we deliver for the American people, especially when it matters most. By taking hold of this historic opportunity, I truly believe we've unlocked the opportunities for generations to come," House Majority Whip Tom Emmer, R-Minn., said. Republicans on Thursday slammed their House Democratic colleagues for delaying the bill's passage — down to House Minority Leader Hakeem Jeffries' 30-minute "magic minute" before House votes. "Democrats voted to put Americans last, and it's a shame. But thank God for House Republicans, and thank God for our president, Donald J. Trump," said GOP Conference Chair Lisa McClain, R-Mich. But the "big, beautiful bill" still has a big hurdle ahead. The Senate is tasked with passing its own version of the bill, and Republican leaders are hoping to send the bill to Trump's desk by the Fourth of July. Senate Republicans have already signaled they expect to make changes to the bill when it reaches the upper chamber, despite House GOP leaders publicly urging them to amend as little as possible. A significant number of senators have voiced concern over the extent of Medicaid and SNAP cuts proposed by the House. Meanwhile, raising the SALT deduction cap could face resistance in the Senate, where no Republicans represent blue states — unlike in the House, where districts in New York and California are key to the GOP majority. And Senate Democrats are already piling on the criticism of Trump's "big, beautiful bill." "This is not one big, beautiful bill. It's ugly. There's nothing beautiful about stripping away people's healthcare, forcing kids to go hungry, denying communities the resources they need, and increasing poverty," Senate Minority Leader Chuck Schumer, D-N.Y., said in a statement Thursday.
CBS News
14-05-2025
- Business
- CBS News
Florida House Speaker Perez rejects DeSantis' $1,000 homeowner checks, pushes lean budget
As budget talks remain stalled, House Speaker Daniel Perez said Tuesday the House has offered possibilities including a "lean, critical-needs budget with minimal spending and no tax cuts." But in a quest to lower state spending, the Miami Republican described a proposal by Gov. Ron DeSantis to send $1,000 checks to homeowners as an "irresponsible idea." With 97 of the 120 House members attending a brief session to extend the potential end date of this year's legislative session, Perez said the House continues to make offers to the Senate about a tax package and a budget that must be completed by the July 1 start of the 2025-2026 fiscal year. Tax cut disputes and spending reduction focus Perez has called for reducing the state's sales-tax rate but indicated Tuesday he is more focused on reducing spending. DeSantis, meanwhile, has pushed for property-tax cuts. "The sales-tax cut was a means, not an end," Perez said. "We will embrace any and all ideas that curb the state budget. We must stop leveraging Florida's future needs by overspending on today's wants." Perez later told reporters that he doesn't think lawmakers are at risk of a government shutdown but also noted the talks aren't "any closer than we were a few weeks ago." The House passed a resolution that would allow the session to continue as late as June 30. Perez said the House won't be "intimidated" or "bullied" by the Senate or DeSantis. The governor, who has veto power, last week exacerbated a session-long feud with Perez by saying a sales-tax rate reduction would kill any opportunity to cut property taxes and that it would be "dead on arrival" if included in a bill. "Members, I know that all of you are tired, some of us are sick, and I'm sure some of you are thinking: even if we are right, wouldn't it be easier to stop fighting?" Perez told House members Tuesday. "It would be. Giving up is always the easier path. After all, we could put the blame for the problem on past legislatures, and push the responsibility for solving it onto future legislatures. And while that may be easy, it would also be wrong." The annual session was scheduled to end May 2 but had to be extended because the House and Senate did not agree on a budget. Perez and Senate President Ben Albritton, R-Wauchula, indicated on May 2 that they had reached a "framework" that would include $2.8 billion in tax cuts, including reducing the sales-tax rate. But behind-the-scenes talks blew up last week, with Perez accusing Albritton of backing out of the agreement on the budget framework. That has left unresolved budget "allocations," which determine how much overall money will go to areas such as education and health and human services. Allocations need to be set before conference committees can begin formally negotiating details of the budget. In a memo Friday, Senate President Ben Albritton, R-Wauchula, said senators raised concerns that a cut in the sales-tax rate would not be "meaningful, felt, or seen by families and seniors when compared with other available options." The Senate last month pitched a plan that included providing a sales-tax exemption on clothes and shoes valued at $75 or less. The Senate plan also included sales-tax "holidays" and trimming a tax on commercial leases. Amid the standoff, Perez said the House has made offers, including the "lean" budget proposal. He said that would "bank all the extra money into reserves. While not an ideal solution, it would represent a hard break from recent spending practices and push the issue into next session." Other offers, he said, included eliminating the 2 percent tax on commercial leases, eliminating the communications services tax, eliminating gross-receipts taxes and increasing exemption levels for the corporate income tax. He framed each idea as being part of efforts to reduce state revenue. Perez ruled out DeSantis' call to provide a one-time $1,000 rebate to homesteaded property owners that would serve as a prelude to asking voters in 2026 to lower property taxes. "These checks do not actually lower tax rates. These checks do not solve the property-tax problem," Perez said. "They are just state taxpayers apologizing for local-government spending, which is the kind of irresponsible idea I associate with California policymakers." Perez also has criticized DeSantis for not providing a detailed property-tax plan, as local governments and school districts rely on property taxes. House Minority Leader Fentrice Driskell, D-Tampa, pointed to a lack of explanation about how services would be funded if property taxes are cut or eliminated. "Just eliminating property taxes would be devastating, because it would be defunding the police, defunding fire, defunding our teachers," Driskell said. "The Republicans would be putting our local governments between a rock and a hard place, for sure."
Fox News
08-05-2025
- Business
- Fox News
Horse Sense: House Republicans work to pass 'big, beautiful bill'
We're in the interlude between the Kentucky Derby and the Preakness. Derby winner Sovereignty won't run in the Preakness coming up in Baltimore. But House Republicans aren't skipping out on trying to finish the big, beautiful bill. And if this were a horse race, House Speaker Mike Johnson, R-La., would dare the pony players to bet against House Republicans when it comes to wrapping things up. "Stop doubting us. We're going to get this job done," said Johnson about the plan to renew tax cuts and slash spending. REPUBLICANS SQUABBLE OVER TRUMP SPENDING PLAN AS FISCAL YEAR 2026 LOOMS: 'STAY UNTIL WE PASS IT' House Republicans aren't exactly maidens here. But the morning line might suggest House Republicans are due to lose in this sweepstakes. Like the Triple Crown, there are three steps to this legislative tournament. And Republicans are now on to the final leg of a legislative trifecta. It was a photo finish in February when House Republicans barely adopted the framework for the tax cut and spending reduction measure. The House GOP leadership appeared to make the vote a late scratch - with Members fleeing the Capitol, only to have them recalled to the House chamber moments later. The Republican leadership brass shored up support for the plan and the House passed it. It was a repeat in April when House Republicans tried to align with the Senate on their version of the blueprint. Republicans managed to lug the framework across the finish line by a nose, 216-214. Flip one vote and that would have produced a tie. A tie vote would have sent the big, beautiful bill out to a big, beautiful pasture. House Republicans were only in the money on the Senate framework after conservatives secured some commitments from Senate Majority Leader John Thune, R-S.D., that senators would make substantial spending cuts. But when it comes to actually finishing this version of the bill, House Republicans are barely a furlong into the race. A debate rages about what Republicans should address in the bill. Passage hinges on what's in or out. "Everybody's going to have to give, including, the SALT provision," said Rep. Ralph Norman, R-S.C., referring to a potential deduction for state and local taxes, known as SALT. "There's a happy medium that will have to be met to get the cuts." Moderate Republicans from high tax states like New York, Pennsylvania and New Jersey will demand the deduction in order to secure their votes for the entire plan. Norman noted that "each individual state's going to have to have some pain" before this goes to the finish line. "We're going to find the equilibrium point on SALT that no one will be totally delighted with," said Johnson. "But it'll solve the equation and we'll get it done." USER'S MANUAL TO WALTZ'S NSA EXIT AND ITS REVERBERATIONS ON CAPITOL HILL "We're in a very good place as it relates to not just the SALT deduction," said Rep. Nicole Malliotakis, R-N.Y., "The people like the ones I represent in Staten Island and Brooklyn desperately need this relief because our mayor and our governor keep hammering us over the head with high taxes." There are also items President Trump insists that lawmakers tuck into the bill. "No tax on tips. No tax on overtime," echoed House Majority Leader Steve Scalise, R-La. But the toughest decisions of all center around changes – or cuts – to entitlement programs. Republicans have bandied around the idea that they could save up to $550 billion from waste and fraud in Medicaid over a decade. But there's evidence that figure is markedly lower. Republicans disagree. "Some of the information we've uncovered would indicate that (the improper payments figure) is much higher," said Johnson. "We're going to try to eliminate that. And I think we owe that to the taxpayers." But Democrats aren't buying that. "They're lying to the American people," said House Minority Leader Hakeem Jeffries, D-N.Y. Democrats argue Republicans might cook the books to cover the cost of the tax breaks and shore up possible holes in the deficit. "They're going to make up whatever numbers they want," said Rep. Frank Pallone, D-N.J., the ranking Democrat on Energy and Commerce Committee. "They know they can't reach these numbers." One item expected in the bill: a major hike in the debt ceiling. "When is X date?" asked Rep. Steve Womack, R-Ark., of Treasury Secretary Scott Bessent at a House Appropriations subcommittee hearing. The "X date" refers to when the federal government exhausts its ability to cover its obligations. "As an outfielder running for a fly ball, we are on the warning track. When you're on the warning track, it means the wall is not that far away," replied Bessent. Or, coming up the side rail. But Bessent added that the government "will not default." REPORTER'S NOTEBOOK: WHERE WE STAND WITH TRUMP'S 'BIG, BEAUTIFUL BILL' Lawmakers grilled cabinet members about trimming departments at hearings this week. Such was the case when Veterans Affairs Secretary Doug Collins appeared before a Senate panel. "You are taking a meat cleaver approach. There's that old adage. Measure twice. Cut once. You guys have been cutting without measuring," charged Sen. Maggie Hassan, D-N.H. "I've not cut anything yet," responded Collins. The Secretary added that there was a "goal" to restructure his department and cut significant numbers of jobs. "Do you want to reach your goal or not?" asked Hassan. "The goal is not a fact," replied Collins. Agriculture Secretary Brooke Rollins also found herself testifying about efforts to shrink her department before another Senate panel. She conceded that slimming government is hard. "Have we done it perfectly? No. Any type of scale change and big effort to basically realign an entire government agency is difficult," said Rollins. Democrats warn that Republicans will rue the day when they approve deep cuts. "Each Republican who votes for reconciliation and bad budgets will be left holding that hot potato," said Senate Minority Leader Chuck Schumer," D-N.Y. One senior House conservative told Fox they thought passing the bill would be "easy" compared to the other two rounds. Another conservative and a moderate Republican argued it would be harder. Much harder. The best gamblers know that it's best to quit when you're ahead. House Republicans managed to eke out victories in the first two rounds. One argument is that they have momentum. Horse sense would tell you that the odds are against them. But this is Capitol Hill. And you never know how things are going to turn out. Mike Johnson and Republicans have no other choice. They promised the public they would pass the bill. President Trump expects it. There are no other options. Pacing is everything in horseracing. A good jockey knows how to coax a burst of energy out of their horse at the right minute. When to give them the whip. We're looking at you, House Majority Whip Tom Emmer, R-Minn. CLICK HERE TO GET THE FOX NEWS APP So the crowd is roaring. The hooves are thundering. Mud and dirt are flying. The stewards are watching. Johnson contends the House isn't off the pace with its goal of passing the package by Memorial Day. But Republicans are trying to pass a very complex bill with a tiny majority. It's like running on a sloppy track. Republicans gallop down the homestretch soon. The next few weeks will be a wild ride.
