Summary
Donald Trump’s tax cut agenda is stalled as Republicans struggle over spending cuts.
Fiscal conservatives demand up to $2 trillion in reductions, while others fear deep cuts will limit future funding options.
Proposals include shortening tax cuts from 10 to 5 years and offsetting revenue losses from Trump’s promised tax breaks, like eliminating income tax on tipped wages.
Senate Republicans favor prioritizing border security over tax cuts, but House Speaker Mike Johnson insists the House must lead.
With GOP infighting unresolved, progress remains slow.
6 Comments
Guy6758@lemmy.world · 45 pts · 1y
Lets hope the infighting and backstabbing quickly gets worse lol
OwlPaste@lemmy.world · 19 pts · 1y
Let's hope they use real knives
massive_bereavement@fedia.io · 7 pts · 1y
Probably of the long ass variety
Chainweasel@lemmy.world · 31 pts · 1y
Congress doesn't have a say anymore.
They gave up that right when they let Trump have budget power with literally no resistance
kikutwo@lemmy.world · 14 pts · 1y
Better call DOGE for assistance LMAO 🤣
kibiz0r@midwest.social · 9 pts · 1y
Reminder that the government issues the currency. It sits on the other side of the balance sheet from you. If the government runs a budget surplus, the private sector is collectively running a deficit.
The national debt is not a liability for you. A good chunk of it is bonds, which are a win-win, because they’re good for retirement accounts for individuals, and they provide the wider economy a hedge against inflation. It’s the bedrock of long-term prosperity and stability.