Posted on 10/20/2017 9:00:15 AM PDT by SeekAndFind
Senate Republicans approved a $4 trillion budget measure Thursday, taking a crucial step toward their goal of passing a tax plan this year.
The chamber approved the budget resolution by a 51-49 vote. Sen. Rand Paul, R-Ky., was the only GOP senator to vote against it.
Senators will now have to reconcile their budget resolution with a separate one passed by the House. The other chamber could simply choose to pass the Senate budget blueprint.
Passing a budget unlocks reconciliation, which enables the GOP to pass a tax bill with a simple 51-vote majority in the Senate. Using the tool removes the need for winning Democratic support, which would likely sink a GOP tax measure.
Republicans have described overhauling the American tax system as crucial to achieving campaign promises and avoiding an electoral setback next year. Disagreements within the party already derailed one key campaign plank, repealing the Affordable Care Act.
President Donald Trump, Senate Majority Leader Mitch McConnell, R-Ky., and House Speaker Paul Ryan, R-Wis., contend tax cuts will unlock economic growth.
Lawmakers have differences to hash out before they can approve a joint budget and move toward passing a tax bill. If lawmakers choose to go to a conference committee, it could take Congress until late October or early November to clear a budget.
Among the variations, the Senate version would allow for tax cuts to add $1.5 trillion to the deficit over a decade. In contrast, the House called for a revenue-neutral proposal.
(Excerpt) Read more at cnbc.com ...
For the first time in how many years?
That is an achievement.
Trump looks set to get his tax cuts.
“That is an achievement.
Trump looks set to get his tax cuts.”
What about spending reductions? I’m guessing neither Trump or the GOP Congress has the backbone to cut spending to fund the tax cuts.
RE: What about spending reductions?
In our dreams. The budget was $3.8 Trillion last year. Now it’s $4 Trillion.
An actual budget rather than some cram down “continuing resolution”?!?!??!
It’s an improvement over the past.
It’s still a $4 Trillion dollar budget.
Sequester lives another day to continue strangling the military.
Q - What’s the difference between a sow with a cowboy hat,
and Frederica Wilson?
A - The sow smells better!
The tax payer is now also bringing in record,historical amounts of taxable revenue! I am thankful we have President Trump to budget it and reign it in!
They passed a budget? Wow.
I heard some squealing from the left, but if it is 4 Trillion...and they crunched real numbers...it is a budget.
Which we haven’t had in ...what over a decade?
It’s not a budget.
It’s a ‘budget measure’ AKA ‘continuing resolution’.
Budgets take awhile and are a pain in the ass. There will be a budget and heads will roll!
Unless the US Treasury is bringing in $4 trillion in actual revenues, this is a terrible idea. We already have $20 trillion in debt. The party time for budget deficits is over. Time to get serious.
Over 2 trillion anyway. It os a start.
The proposal also calls for massive tax increases on middle class Americans.
This is nothing to celebrate in my book.
Trump didn't campaign on raising my taxes, but that is what is going to happen - all so that corporations can get a huge rate cut.
Let’s see now...
$5 Trillion in “un-budgeted” pre-tax stock market INCOME...
Which means $1 Trillion in “un-budgeted” tax REVENUES...
Doesn’t this mean we can expect a SURPLUS for 2018?
Is CINO Nancy Pelosi's goose cooked? Maybe. Nancy is a Catholic-in-Name-Only because of her abortion views.
Senator Charles Schumer, though a Democrat, is a friend of President Donald Trump. He is asking fellow Democrats to Soften their views on Gun Control.
Please don't roast me. I am praying for Senator Schumer, and I regret putting a funny handle to his name. Very wrong of me as a Catholic-Christian.
$4T+?! And FRiends are calling this *winning*?? “Revenue neutral” tax-cuts (IE: having to be ‘paid for’)?? H-O-L-Y sh!t. Can we finally kill the (R)NC, not a damn PLANK they support in their platform.
Where’s the “It’s not Fascism guy”? Small govt, let alone Constitution following, my ass.
“Trump looks set to get his tax cuts.
The proposal also calls for massive tax increases on middle class Americans.
This is nothing to celebrate in my book.
Trump didn’t campaign on raising my taxes, but that is what is going to happen - all so that corporations can get a huge rate cut.”
____________
What tax increases? And why are they Trump’s tax cuts instead of Congress’s? More facts and fewer talking points, please.
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