Sunday, June 1, 2025
Smart Again
  • Home
  • Trending
  • Politics
  • Law & Defense
  • Community
  • Contact Us
No Result
View All Result
Smart Again
  • Home
  • Trending
  • Politics
  • Law & Defense
  • Community
  • Contact Us
No Result
View All Result
Smart Again
No Result
View All Result
Home Politics

House Republicans move to gut spending and cut taxes (mainly for the rich) by $4.5 trillion

February 12, 2025
in Politics
Reading Time: 3 mins read
0 0
A A
0
House Republicans move to gut spending and cut taxes (mainly for the rich) by .5 trillion
Share on FacebookShare on Twitter


Republican House Speaker Mike Johnson, Arizona Rep. Abraham Hamadeh, and House Majority Whip Tom Emmer of Minnesota following a Capitol press conference on Tuesday, February 11. J. Scott Applewhite/AP

Fight disinformation: Sign up for the free Mother Jones Daily newsletter and follow the news that matters.

The budget resolution released Wednesday by the House Republican caucus contains no concrete details, but it codifies a GOP strategy that should surprise absolutely no one.

In parallel with the mayhem playing out in the Executive Branch, the House lawmakers aim to gut agencies Donald Trump disfavors, boost spending for those that align with his agenda, renew and extend the 2017 tax cuts that enriched America’s most affluent—his latest proposals all told, by one estimate, would raise taxes on all but the top 5 percent. They also pay lip service to the deficit even as their proposals will increase it significantly, perhaps as a way to build political consensus for cuts to programs like Social Security and Medicare.

Specifically, the new resolution directs each House committee to submit recommendations, by March 25, to either cut or increase federal spending under its jurisdiction. The figures below cover the 10-year period from 2025 to 2034.

Cuts (“not less than…”)Agriculture: $230 billionEducation and Workforce: $330 billionEnergy and Commerce: $880 billionFinancial Services: $1 billionNatural Resources: $1 billionOversight and Government Reform: $50 billionTransportation and Infrastructure: $10 billion

Total cuts: $1.5 trillion

Increases (“not more than…”)Armed Services: $100 billionHomeland Security: $90 billionJudiciary: $110 billion

And the doozy: Ways and Means, the committee responsible for tax policy, “shall submit changes in laws within its jurisdiction that increase the deficit by not more than $4,500,000,000,000.”

That’s an invitation for a net $4.5 trillion in tax cuts.

Total increases: $4.8 trillion

If the total cuts from the group above don’t reach $2 trillion, the document states, the difference will come out of Ways and Means’ $4.5 trillion allowance. That would leave us with almost $3 trillion in deficit spending. But at least the rich will get their tax breaks, right?

The resolution also asks Ways and Means to request a $4 trillion increase in the debt limit.

In the past, House Republicans have talked a good game on balanced budgets. This would be anything but. Tellingly, their resolution makes a show of lamenting the growing federal debt, which “poses a significant risk to the country’s long-term fiscal sustainability, with implications for future generations.” The document points to the mandatory spending that accounts for more than 70 percent of the budget, noting that it has increased by 59 percent since 2019.

And yes, the growing debt is a problem, especially when interest rates are higher, which makes servicing payments expensive, but there are ways to narrow the deficit that the Republicans, along with Elon Musk and his DOGE bros, have largely ignored.

Indeed, the gripes about mandatory federal spending, especially in this context, sound like a pre-justification for cutting from the three biggest areas of mandatory spending: Social Security, Medicare, and Medicaid.

Republicans have already targeted Medicaid, the national health insurance program for the poor, by proposing work requirements—which evidence shows are little more than a cruel tactic to purge people from the rolls. Going after Social Security and Medicare would be messing with America’s seniors, who are relatively wealthy and politically engaged, driving up their health care costs.

Historically, the latter two have been political third rails, “but with this group, I kind of never know anymore,” says a Democratic aide who works with the House Ways and Means Commitee. “They’re already talking about doing things on Social Security and Medicare in a way that I never would have thought they would be talking about, but it’s definitely in the ether.”



Source link

Tags: cutgutHouseMoveRepublicansRichspendingtaxestrillion
Previous Post

“Stop this ridiculous war”: Trump teases end of Ukraine conflict after calls with Putin, Zelenskyy

Next Post

Data Analysts Recommend Investigation Into Trump’s Pennsylvania Win

Related Posts

This week’s Reveal podcast: The EEOC’s identity crisis
Politics

This week’s Reveal podcast: The EEOC’s identity crisis

May 31, 2025
The FDA just approved a new Covid vaccine
Politics

The FDA just approved a new Covid vaccine

May 31, 2025
Jamie Raskin Launches Investigation Into Trump’s “Corrupt Pardon Spree”
Politics

Jamie Raskin Launches Investigation Into Trump’s “Corrupt Pardon Spree”

May 31, 2025
Tim Walz Goes To South Carolina And Completely Unloads On Everyone
Politics

Tim Walz Goes To South Carolina And Completely Unloads On Everyone

May 31, 2025
PBS Sues The Pants Off Of Donald Trump
Politics

PBS Sues The Pants Off Of Donald Trump

May 31, 2025
For trans people on Medicaid, Trump’s “Big, Beautiful Bill” is anything but
Politics

For trans people on Medicaid, Trump’s “Big, Beautiful Bill” is anything but

May 31, 2025
Next Post
Data Analysts Recommend Investigation Into Trump’s Pennsylvania Win

Data Analysts Recommend Investigation Into Trump's Pennsylvania Win

Happy Birthday, Abe

Happy Birthday, Abe

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • Trending
  • Comments
  • Latest
“A huge net positive”: Controversial “Squid Game” character challenges Western representation ideals

“A huge net positive”: Controversial “Squid Game” character challenges Western representation ideals

December 31, 2024
Will the next pope be liberal or conservative? Neither.

Will the next pope be liberal or conservative? Neither.

April 21, 2025
Why the Karen Read retrial might end differently this time

Why the Karen Read retrial might end differently this time

May 3, 2025
What Megyn Kelly gets right — and wrong — about Conclave 

What Megyn Kelly gets right — and wrong — about Conclave 

January 12, 2025
The roots of Donald Trump’s fixation with South Africa

The roots of Donald Trump’s fixation with South Africa

February 15, 2025
Amid chaos, new report reveals 40 percent of DOGE cuts won’t save any money

Amid chaos, new report reveals 40 percent of DOGE cuts won’t save any money

February 25, 2025
“They stole an election”: Former Florida senator found guilty in “ghost candidates” scandal

“They stole an election”: Former Florida senator found guilty in “ghost candidates” scandal

0
The Hawaii senator who faced down racism and ableism—and killed Nazis

The Hawaii senator who faced down racism and ableism—and killed Nazis

0
The murder rate fell at the fastest-ever pace last year—and it’s still falling

The murder rate fell at the fastest-ever pace last year—and it’s still falling

0
Trump used the site of the first assassination attempt to spew falsehoods

Trump used the site of the first assassination attempt to spew falsehoods

0
MAGA church plans to raffle a Trump AR-15 at Second Amendment rally

MAGA church plans to raffle a Trump AR-15 at Second Amendment rally

0
Tens of thousands are dying on the disability wait list

Tens of thousands are dying on the disability wait list

0
“Soulless, mindless entities”: Trump shares QAnon conspiracy theory suggesting Biden is a clone

“Soulless, mindless entities”: Trump shares QAnon conspiracy theory suggesting Biden is a clone

June 1, 2025
The alpha male era is on its way out

The alpha male era is on its way out

June 1, 2025
Would You Trust Musk To Put Driverless Cars On YOUR Streets?

Would You Trust Musk To Put Driverless Cars On YOUR Streets?

June 1, 2025
The crisis in American air travel, explained by Newark airport

The crisis in American air travel, explained by Newark airport

June 1, 2025
Ron Johnson: It’s Cool To Watch Buildings Collapse On 9-11

Ron Johnson: It’s Cool To Watch Buildings Collapse On 9-11

June 1, 2025
This week’s Reveal podcast: The EEOC’s identity crisis

This week’s Reveal podcast: The EEOC’s identity crisis

May 31, 2025
Smart Again

Stay informed with Smart Again, the go-to news source for liberal perspectives and in-depth analysis on politics, social justice, and more. Join us in making news smart again.

CATEGORIES

  • Community
  • Law & Defense
  • Politics
  • Trending
  • Uncategorized
No Result
View All Result

LATEST UPDATES

  • “Soulless, mindless entities”: Trump shares QAnon conspiracy theory suggesting Biden is a clone
  • The alpha male era is on its way out
  • Would You Trust Musk To Put Driverless Cars On YOUR Streets?
  • About Us
  • Advertise with Us
  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact Us

Copyright © 2024 Smart Again.
Smart Again is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Trending
  • Politics
  • Law & Defense
  • Community
  • Contact Us

Copyright © 2024 Smart Again.
Smart Again is not responsible for the content of external sites.

Go to mobile version