U.S. BUDGET JUST MADE HISTORY: BEST MONTH EVER
ㅤ"In April, the federal government took in a record sum of $515 billion in taxes, according to a newly released Congressional Budget Office report. During that time, we spent $297 billion. Yes, you read that correctly: We actually took in more than we spent — a lot more. That $218 billion surplus is, in fact, a new record, beating the previous record set back in 2001 ($190 billion) by $28 billion.
ㅤAs The Washington Times points out, the surplus surprised CBO analysts, who were predicting about $40 billion less, though some of that has to do with a shift in timing of payments. In its report, the CBO suggests that the unexpectedly high tax revenues was a result of ‘stronger-than-expected’ economic growth last year and in early 2018."
Full story at Ben Shapiro’s Daily Wire, image from fwallpapers(.com) – 5/8/18. See "budget, federal government, taxes."ㅤHomeㅤ
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DEMOCRATS CRY FOUL AS GOP EYES MOVE TO CANCEL SPENDING
ㅤ”Republicans have come under fire in their districts during the spring recess after supporting the $1.3 trillion omnibus bill, which provides a huge bump in both defense and domestic spending, adding hundreds of billions of dollars to federal deficits. In response, Trump and Majority Leader Kevin McCarthy (R-Calif.) are reportedly in talks to tap an obscure provision of a decades-old budget law to prune some of the spending increases from the package.
ㅤDemocrats, who supported the omnibus only after receiving funds for their domestic priorities, said any GOP effort to make after-the-fact changes would be a major betrayal.
‘It would completely poison the well to the idea that there can be responsible bipartisan compromise,’ said Matthew Dennis, a spokesman for Rep. Nita Lowey (N.Y.), senior Democrat on House Appropriations Committee. The Republicans, Dennis added, are trying ‘to renege on elements that were critical to passage of the omnibus.'”
Full story at The Hill, image from twitter(.com) – 4/5/18.
Tags: budget, federal budget, omnibus, domestic spending. 𑗉
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ㅤ”Twenty Republicans voted against the budget in the 216-212 vote, more than the 18 who voted against the original House version earlier this month.
ㅤMost of the 20 defectors were centrists hailing from populous states that could stand to lose from eliminating the state and local tax deduction.
ㅤThose lawmakers included Reps. Dan Donovan (N.Y.), John Faso (N.Y.), Brian Fitzpatrick (Pa.), John Katko (N.Y.), Pete King (N.Y.), Leonard Lance (N.J.), Frank LoBiondo (N.J.), Tom MacArthur (N.J.), Chris Smith (N.J.), Elise Stefanik (N.Y.), Claudia Tenney (N.Y.) and Lee Zeldin (N.Y.).”
ㅤStory at The Hill, image from nps(.gov). — #budget #congress #conservatives #constitution #house of representatives #irs #spending cuts #tax break #tax cut #tax cuts #tax plan #tax rate #tax reform #taxes #the hill — Visit the post page to like, share or reply to this post.
Rep. Peter King, R-N.Y.
ㅤ”Reps. Peter King, R-N.Y., Tom MacArthur, R-N.J., and others from high-tax states say they will not vote for the Senate budget resolution this week because the GOP tax reform outline would eliminate the state and local tax deduction that brings huge savings to their constituents at tax filing time.”
ㅤô¿ô …Establishment politicians defending America’s privileged class. #draintheswamp !!!!
ㅤStory at The Washington Examiner, image from cnsnews(.com). #budget #irs #spending cuts #tax cut #tax cuts #tax deductions #tax plan #tax rate #tax reform #taxes #peter king #tom macarthur #state and local tax deduction — Visit the post page to like, share or reply to this post.
Republican Study Committee
ㅤ”The House is expected to vote on the Senate-amended 2018 budget resolution on Thursday, according to a leadership aide, moving ahead the Trump administration’s tax reform efforts.”
ㅤStory at The Hill, image from c-span(.org). #budget #congress #house of representatives #irs #spending cuts #tax cut #tax cuts #tax plan #tax rate #tax reform #taxes #the rsc steering committee #trump administration #white house — Visit the post page to like, share or reply to this post.
ㅤ”The President will join a rare Sunday afternoon House GOP conference call to rally Republicans behind the budget bill. Its passage would allow Republicans to fast track their tax plan and move it forward without Senate Democratic votes, potentially giving them a legislative accomplishment Republicans desperately want after their fumbling efforts earlier this year to repeal Obamacare.”
ㅤStory at Politico, image from politico(.com). #budget #congress #donald trump #house of representatives #potus #president #spending cuts — Visit the post page to like, share or reply to this post.
ㅤFreedom Caucus Chairman Mark Meadows
ㅤ”In exchange for their votes, the Freedom Caucus wants a promise that GOP tax writers will hold their first committee markup the following week, with a House floor vote on the tax bill in the second week of November.”
ㅤStory at Politico, image from politico(.com). #budget #congress #conservatives #freedom caucus #house of representatives #mark meadows #paul ryan #senate #senate republicans #spending cuts #tax cut #tax cuts #tax plan #tax rate #tax reform #taxes #u.s. congress — Visit the post page to like, share or reply to this post.
ㅤ”The House and Senate need to pass identical budgets in order to allow Republicans to use a fast-tracking procedure that sidesteps the Senate’s typical 60-vote threshold for passage. Then Republicans can jam a tax bill through on party lines, which is their current plan.”
ㅤStory at Politico, image from politico(.com). #budget #congress #house of representatives #mitch mcconnell #paul ryan #senate #senate republicans #u.s. congress #diane black #mike enzi – Go to reblog (browser only).
ㅤ”Senate Republicans on Wednesday voted down a measure to prevent tax cuts for the top 1 percent earners, an amendment introduced by Sens. Bernie Sanders and Ron Wyden to extract a price from the GOP as it moves toward tax reform legislation.”
Story at The Washington Examiner, image from washingtonexaminer(.com). #bernie sanders #budget #democratic party #democratic socialists #democrats #ron wyden #senate #senate republicans #tax cut #tax cuts #tax plan #tax rate #tax reform #taxes #u.s. congress – Go to reblog (browser only).
Story and video at The Washington Examiner, image from washingtonexaminer(.com).
ㅤ”Senate Majority Leader Mitch McConnell, R-Ky., announced Tuesday that the chamber would vote to pass the budget by Friday.”
ㅤC’mon Rand. Make it unanimous.
#budget #mitch mcconnell #rand paul #senate #tax cut #tax plan #tax rate #tax reform #taxes #john thune – Go to reblog (browser only).
ㅤ”Sen. John McCain (R-Ariz.) said Tuesday that he intends to vote for the 2018 budget resolution, all but assuring that the measure will pass without incident this week.
ㅤMcCain had been holding out support based on an insistence that defense spending increase by billions of dollars. ‘For too long, draconian budget cuts to the military have crippled readiness and put the lives of our service members in danger,’ McCain said in a statement. ‘At the end of the day, we all know that the Senate budget resolution will not impact final appropriations.'”
Story at The Hill, image from thehill(.com). #budget #john mccain #military #pentagon #senate – Go to reblog (browser only).
ㅤ”The Senate’s vote is the first step toward passing a tax reform bill in the Senate. The budget is expected to consider ‘reconciliation’ instructions to pass a tax reform bill, which will be allowed to advance and pass by a simple majority vote instead of the usual 60-vote threshold.”
Story at The Washington Examiner, image from form9465(.com). #budget #senate #tax cut #tax plan #tax rate #tax reform #taxes – Go to reblog (browser only).
ㅤ”But Paul still said he will oppose the budget later this week unless it sheds $43 billion in extra defense spending.”
Story at The Washington Examiner, image from breitbart(.com). #budget #defense spending #donald trump #potus #president #rand paul – Go to reblog (browser only).
ㅤGreat news. Now the GOP can afford two assholes voting against the budget. Not one.
Story at Politico, image from politico(.com). #budget #thad cochran #washington – Go to reblog (browser only).
ㅤ”Paul said he wants to get rid of the $43 billion in overseas war funding that exceeds federal budget caps Congress agreed to in 2011.
ㅤ’I’ve told them I’m a ‘yes’ if they’ll not exceed the budget caps,’ Paul said. ‘If leadership is unwilling to compromise with somebody who is concerned about the debt, then they deserve to lose.'”
ㅤDeficit hawk vs. military hawk? Not really. They’re both just egomaniacs.
Story at Politico, image from politico(.com). #budget #deficit #john mccain #national debt #rand paul – Go to reblog.
Story at The Washington Examiner, notes at the DC Drain, image from senate(.gov).
ㅤAs you can see in the chart, by requiring a budget, McConnell may be attempting to block the President’s agenda.
ㅤVisit budget.senate.gov for more info on the budget process.
#mitch mcconnell #tax cut #tax plan #tax rate #tax reform #taxes #budget – Go to reblog.