Posted on 05/19/2025 11:42:22 AM PDT by E. Pluribus Unum
Summary
WASHINGTON, May 19 (Reuters) - Republicans who control the U.S. House of Representatives will try to nudge President Donald Trump's sweeping tax bill toward passage this week, despite a running battle over spending cuts and tax breaks that threatens to shatter their fragile majority.
They pushed ahead even after Moody's stripped the U.S. federal government of its top-tier credit rating, saying that multiple administrations and Congress had shown no political will to address the nation's growing $36.2 trillion debt pile.
U.S. stocks eased on Monday, the first trading day following Moody's move.
The legislation, which had been stalled for days, advanced in a rare Sunday night meeting of the House Budget Committee when four hardline conservatives voted to move forward, as they pressed for deeper spending cuts in closed-door talks with Republican leaders and White House officials.
The bill will face its next test in another unusual hearing, set for 1 a.m. ET (0500 GMT) Wednesday, when the House Rules Committee weighs changes to the bill.
This is meant to tee up a full floor vote this week, as House Speaker Mike Johnson told reporters he is trying to get this voted on by Thursday, ahead of his self-imposed deadline of May 26, the U.S. Memorial Day holiday.
Republicans remained divided over major aspects of the bill, including cuts to Medicaid and limits on the deductibility of state and local taxes.
"We've still, this week, got a number of other meetings we're going to have to have with different ends of our conference. You know, everybody from the moderates...
(Excerpt) Read more at reuters.com ...
I don’t have confidence in the Congress (a nice way of putting it)
but
they really do need to eliminate the federal income tax instead of constantly playing around with it (raising taxes most of the time along the way)
and frankly, as costly is the free medical care program... I wish, just wish.. that the GOP would go after many OTHER spending programs first.........cutting medical care is not the best “optics” to lead with, imho. They could instead trim back the federal EPA of its gross excesses. They could abolish dangerous bureaus like ayeeeteeeeff and armed civilian agencies. They could even clean up the longstanding and very dangerous Nazi infestation in the Snake Dept if they wanted to ... (the appropriations power is a big stick that can turn off the spigot supporting the worst most dangerous parts of the federal bureaucrappy). If only Congress wills. But alas, too d((((ed many Corruptoids (including in the GOP delegation, alas!)
too may corruptoids
too many corruptoids
it all goes back to the voters (or at least to those counting the votes)
“they really do need to eliminate the federal income tax instead of ...”
Eliminating the Federal income tax would simplify our lives but replacement revenue has to be there. Trump’s trying to bring about a huge, multi-front, transition and no one knows how it will turn out.
We’ll be feeling our way along and politicians on both sides will be screaming.
Will it be possible to, officially, end the existence of all taxes?
Since feral government spending is completely decoupled from tax revenue, one would have to think so.
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