Keyword: budget
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I think we can say, at least for the moment, it looks like the Biden agenda is dead.Whether it will come back at a later point, scaled back is another question. But, right now, it’s looking like the progressives’ greed just killed the whole works. They tried to hold up the infrastructure bill by demanding the reconciliation spending spree first and got called on it. So now what they have is nothing.As we reported earlier, Biden sent strong signals that the meeting was a failure by indicating a timeline for “getting this done” no longer matters. “We’re gonna get this...
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WASHINGTON — President Biden will scramble to Capitol Hill Friday afternoon to try and salvage his signature spending plans after House Speaker Nancy Pelosi laid the groundwork to delay a vote on his $1.2 trillion infrastructure bill for up to a month, sources told The Post. Biden’s effort to strike a deal with warring House Democrats also came after two leading progressive lawmakers took shots at him for not engaging in talks sooner.
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Furious Democrats seethe daily about Republican hostage-taking on the debt limit. They’re still insisting that the ceiling be suspended through regular order, and that Republicans help them do it. Instead of these fruitless, if understandable, attempts to shame Republicans for their hypocrisy and recklessness, Democrats could take this opportunity to remove a weaponized debt ceiling from Republicans’ arsenal for good..... “I’d be glad to see us get rid of the debt limit,” Sen. Elizabeth Warren (D-MA) told TPM. “It serves no purpose to restrict spending, it just creates opportunities for political gamesmanship and threats to our economy. It’s time to...
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The Democrats’ $3.5 trillion social-engineering bill pushed by President Biden and Nancy Pelosi is called Build Back Better. It should be called Building a Political Scam. Buried in the 2,465 pages are numerous billion-dollar grants to unnamed community organizations for vague purposes like promoting “community engagement,” providing “support and advice,” and “creating equitable civic infrastructure.” Translation: Your taxpayer dollars will fund the payrolls of left-wing advocacy groups between elections. In return, they become the campaign army staffing phone banks, harvesting ballots, and escorting people to the polls on Election Day. The Build Back Better bill is pouring tens of billions...
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In 2017, the US national debt surpassed $20 trillion for the first time. Former President Donald Trump added about $7.8 trillion to the debt with spending and tax cuts. The debt ceiling needs to be raised to cover past fiscal decisions. Not many people outside the Beltway truly understand what the US's debt ceiling is or how and when it needs to be raised. And Senate Republicans are banking on that..... But the debt is also a product of Republicans' 2017 tax cut, which reduced federal revenues - corporate tax rates dropped from 35% to 21% - without a commensurate...
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Newly released details of Democrats' massive spending plans include $3 billion for 'tree equity', $12 billion for electric cars, $1 billion more to turn government facilities into 'high-performance green buildings' and millions more for gender identity and bias training. The text of the Build Back Better Act, released by Democrats on the House Budget Committee on Saturday, for the first time reveals how President Biden's allies plan to spend a whopping $3.5 trillion. Critics have already seized on one of its most controversial measures: An extra $79 billion for the Internal Revenue Service over the next decade to expand audits...
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Though he was all for the government ordering an economy-wide shutdown to stop the spread of the coronavirus, infectious disease genius Dr. Anthony Fauci is concerned that Republican objections to the Democrats' spending binge"could lead to a government shutdown that would worsen the pandemic." "The shutdown ordered in 2020 targeted only nonessential businesses," Fauci said. "Society could and did survive the casualties taken by this sector of the economy. In fact, it could be argued that the elimination of these small fry businesses actually helped reshape the whole production and distribution processes into a more consolidated and efficient mode. Relying...
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Chalk this up as what may just be the death knell for Joe Biden’s legislative agenda.House Speaker Nancy Pelosi (D-CA) said on Friday that she would bring up the bipartisan infrastructure bill for a vote on Monday. Moderates had been pushing that they wanted the vote on the infrastructure bill prior to any voting on the $3.5 trillion budget reconciliation bill. Meanwhile, the progressives had wanted to link the two and/or have the reconciliation bill voted on first.But now, she’s backing off her pledge to do it on Monday, saying she wouldn’t do it if the votes aren’t there. She’s...
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WASHINGTON (AP) — What will it cost to enact President Joe Biden’s massive expansion of social programs? Congress has authorized spending up to $3.5 trillion over a decade, but Biden is prodding Democrats to fully cover the cost of the legislation — by raising taxes on corporations and the wealthy, negotiating the price of prescription drugs and dialing up other sources of federal revenue such as increased IRS funding. The idea is that entire package should pay for itself. Defending a bill not yet fully drafted, Democrats are determined to avoid a deficit financed spending spree. They are growing frustrated...
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The House Budget Committee voted Saturday to pass the $3.5 trillion spending bill out of committee and send it to the House floor. The vote was 20 to 17 with Democratic Rep. Scott Peters of California joining Republicans to vote against the bill. It came as a necessary step for the bill to reach the full House floor, where it can be amended. Democrats have been struggling to pass President Joe Biden's economic agenda, including the massive tax and spending bill that would expand education, health care and childcare support, address the climate crisis and make further investments in infrastructure....
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Democrats are grasping for ways to finance their cradle-to-grave welfare state, with the left demanding what they claim is $3.5 trillion over 10 years. The truth is that even that gargantuan number hides the real cost of their plans. The bills moving through committees are full of delayed starts, phony phase-outs, and cost shifting to states designed to fit $3.5 trillion into a 10-year budget window that can pass with a mere 51 Senate votes. Even if the bill shrinks to $2 trillion or less, the real costs will be far greater. Behold one of the greatest fiscal cons in...
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Senate Minority Leader Mitch McConnell has firmly dug in on refusing GOP help to renew the US's ability to pay off its bills, known as the debt ceiling. Instead, the Kentucky Republican said it's up to Democrats to raise it in order to finance their social spending plans on healthcare, education, and childcare. He insists he's not "bluffing." But the conundrum could have a coin-sized solution. A loophole in the law that prescribes the types of coins that can legally be minted in the US theoretically allows the Treasury Department to mint a $1 trillion platinum coin, deposit it at...
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In a visit earlier this month to Butler County, Kentucky, Sen. Rand Paul (R-KY) warned against high government spending as Democrats continue their attempt to pass a $3.5 trillion reconciliation budget.
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Regarding immigration, there’s a lot going on now, including the ongoing Biden Border Surge and the Afghan Resettlement Plan. But don’t take your eyes off Congress. Something being cooked up there would make the current situation even worse – much worse. It’s a proposed amnesty for illegal aliens, to grant them legal status. It's attached to the gigantic 3.5 trillion dollar budget reconciliation bill. Sneaky, huh?
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The humongous bill that Democrats in Washington, D.C. are assembling this week is a slap in the face to Americans who work, pay taxes and support their families. The bill demeans work ethic and glorifies government handouts. It sends a message that work and self-sufficiency are for suckers. Better to climb on Uncle Sam's gravy train that will now provide cradle-to-grave benefits. The social spending bill will give monthly payments to almost all parents based on how many children they have, regardless if anyone in the family works. Democrats are also promising virtually free child care until kids reach age...
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“Our Nation’s small businesses define our communities, drive innovation, and create the products and services that enrich our lives and solve global problems to build a better and more sustainable world,” President Biden declared in a September 10th proclamation highlighting American small businesses. Does the Biden administration have small business interests in mind? Absolutely not. The Biden administration claims 97 percent of small business owners won’t see tax hikes under the president’s “Build Back Better” agenda. The Tax Foundation, however, countered, “By focusing on the number of people, the Biden administration is misleadingly claiming their tax proposals would have a...
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President Biden's radical/woke/leftist dream of a "budget" bill contains a lot of liberal nonsense at a cost of more than three trillion dollars. Among the most consequential provisions within it are major changes to the immigration system in the United States. And because of the reconciliation process being used by Democrat leadership in Congress, most of these provisions will receive little, if any, debate by legislators. Including mass amnesty for millions of illegal aliens — what the Biden budget refers to as "human infrastructure" — the package to be passed via reconciliation also does more than simply "reform" America's immigration...
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House Democrats are plotting a huge tax raid on the wealthy, businesses and investors to raise $2.9billion to cover the cost of President Joe Biden's domestic plans, leaked documents reveal. The plans are a major rollback of Donald Trump's tax cuts and will see the corporate rate hiked from 21 per cent to 26.5 per cent according to the draft proposal circulating among Democrats on the House Ways and Means Committee. Democrats are also expected to propose a 3 per cent surtax on individual income above $5million, which alone will raise $127billion. The plans are a major rollback of Donald...
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Senate Democrats are considering several ways to tax Americans in order to pay for their leftist wishlist, otherwise known as the $3.5 trillion budget resolution. According to a four-page document obtained by NBC News, one of the ways Democrats propose to pay for their wildly expensive plan, which includes carveouts for a civilian climate corps, universal pre-K, and other woke legislation, is through a “plastics excise tax
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Sen. Joe Manchin (D-W.Va.) on Thursday said Democrats need to take a “strategic pause” before considering a $3.5 trillion bill that is designed to further push President Joe Biden’s agenda. “Instead of rushing to spend trillions on new government programs and additional stimulus funding, Congress should hit a strategic pause on the budget-reconciliation legislation,” Manchin, considered by many to be the most conservative Democrat in the Senate, wrote in an op-ed for the Wall Street Journal. “A pause is warranted because it will provide more clarity on the trajectory of the pandemic, and it will allow us to determine whether...
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