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THE TRUMP PRESIDENCY
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Jimbone Offline
Now with more intolerance!
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Posts: 4,389
Joined: May 2012
Post: #1681
RE: THE TRUMP PRESIDENCY

They're all full of shit.





10-16-2017 10:16 AM
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Carsman Offline
Geriatric star & Bad Mocker
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Posts: 5,000
Joined: Jul 2010
Post: #1682
RE: THE TRUMP PRESIDENCY

When you look up "full of shit" in the dictionary it says: politician hah






Carsman: Loves Living Large

Life is short, make the most of it, get outta here!
10-16-2017 11:15 PM
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HairOfTheDog Offline
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Posts: 23,497
Joined: Aug 2011
Post: #1683
RE: THE TRUMP PRESIDENCY

Senate Passes 2018 Budget Plan

Tax reform was one of President Trump's campaign promises. He's still a long way from accomplishing it, but has just cleared one hurdle.

Snip:
Approved 51-49 on Thursday night — Kentucky Republican Sen. Rand Paul joined Democrats in opposing it — the budget differs significantly from one passed by the House on Oct. 5, especially in the amount the national debt can be raised by tax cuts.

Each chamber must pass identical measures for them to have any effect. But even then, the budget's real impact is not on how much the government will spend or borrow — it's how much it will tax, because the measure included language that would prevent a tax bill from being filibustered by Democrats later this year or next year.

Filibusters require 60 votes to break, which means Democrats could derail the tax bill even though they are in the minority. A bill brought up under reconciliation requires only 51 votes to pass, and Republicans hold 52 seats (plus, they have Vice President Pence to break a 50-50 tie).

However, senators from both parties emphasized this week the passage of "reconciliation instructions" telling the Senate Finance Committee that a tax bill cannot be filibustered if it adds $1.5 trillion or less to the deficit.

Over the next 10 years, the budget calls for $473 billion in cuts from Medicare and $1 trillion from Medicaid. They are part of $5 trillion in cuts mentioned overall, but most are not specified.

It is not a law, so the budget cannot actually cut or raise spending or taxes. And this year, it is widely assumed the spending levels for the fiscal year — which actually began Oct. 1 — will not really be used by appropriators.


(continued)





10-20-2017 01:48 PM
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HairOfTheDog Offline
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Post: #1684
RE: THE TRUMP PRESIDENCY

Over the course of two days, the Republican majority voted almost en bloc against amendments that included a requirement that no one making $250,000 or less would face a tax increase, to prevent tax cuts from increasing the deficit, to require a "score" on a tax bill's impact from the Congressional Budget Office before a vote could be taken, and to prevent cuts to Medicare or Medicaid.

The budget approved by the House on Oct. 5 said tax cuts had to be offset with tax increases or spending cuts and could not add to the deficit; the Senate measure would allow debt to increase by $1.5 trillion.

The House measure also required $200 billion in deficit reduction be found later through reconciliation, while the Senate measure only included a token $1 billion reconciliation cut.

Either the House must pass the Senate's version, or both chambers must appoint a conference committee to develop a compromise that would have to be approved again in each chamber. Key votes will come from conservatives who have railed against deficit spending in the past.


Full piece: https://www.usatoday.com/story/news/poli...780610001/





10-20-2017 01:50 PM
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