Connect with us

Hi, what are you looking for?

Latest News

Johnson reveals Trump’s wishes on delivering huge policy overhaul in closed-door meeting

Speaker Mike Johnson, R-La., told Republican lawmakers on Saturday that President-elect Trump supports a conservative policy overhaul via a single large bill, three sources told Fox News Digital.

Trump wants both the House and Senate to have such a bill on his desk by May, the sources said. The president-elect’s buy-in will likely end the growing intraparty friction on how to pass Republican goals next year via a process known as ‘reconciliation,’ which lawmakers plan to use to pass conservative policy and budget changes.

House Republicans met behind closed doors in Washington’s Fort McNair on Saturday to discuss the plan.

Reconciliation allows the Senate to bypass its traditional 60-vote threshold in favor of a simple majority, provided the legislation is focused on budgetary and other fiscal matters.

Both parties have traditionally used reconciliation to pass broad policy changes in a single bill. But the legislation also goes through a strict assessment where the Senate parliamentarian is tasked with deciding what is and is not relevant to U.S. fiscal matters.

Notably, Democrats previously tried to use reconciliation to pass mass amnesty measures, but they were blocked.

Republicans might face similar issues with their push to add border security provisions to the bill. They’re also aiming to use it to extend Trump’s Tax Cuts and Jobs Act (TCJA) of 2017, as well as to pass measures on energy and defense.

The apparent decision by Johnson on Saturday comes after Congressional Republicans were at odds over whether to pass one or two reconciliation bills.

It is a process normally used once per year, but Senate Majority Leader John Thune, R-S.D., floated a plan last month to split Republicans’ priorities into two bills – one dealing with the border and defense and a second aimed at preserving Trump’s tax policy.

The plan was also backed by top Trump adviser Stephen Miller.

But that push angered Republicans on the House Ways and Means Committee, who warned that two reconciliation bills could be too big a lift, and putting taxes second could imperil remaining GOP tax provisions that are set to expire at the end of this year.

House Ways and Means Committee Chairman Jason Smith, R-Mo., pointed out on Fox Business Network’s’ ‘Mornings With Maria’ that Congress has not passed two reconciliation bills into law in one year since 1997.

‘I am saying we need a reconciliation bill that has border, energy, permitting and tax. You put all four of those things together, we can deliver on that,’ Smith said.

The panel put out a memo last month warning that everyday Americans could see their taxes rise by 22% if Trump’s tax policies expire.

But other lawmakers bristled at the idea that two bills were impossible.

House Freedom Caucus Chairman Andy Harris, R-Md., told Fox News Digital last month, ‘I think we need to prove to the American people that we can actually defend our borders. The bottom line is, I think they need to be on almost parallel tracks. But I do believe that taxes are much more complicated.’

Fox News Digital reached out to Thune and Smith’s offices for comment. Thune’s office responded and declined to comment, and Smith’s office did not immediately respond.

This post appeared first on FOX NEWS

You May Also Like

Editor's Pick

Protesters in Brussels participate in the Walk for Your Future climate march ahead of COP27. United Nations climate conferences typically reach their peak just...

Editor's Pick

In Risky Business: Why Insurance Markets Fail and What to Do About It (Yale University Press, 2023), economists Liran Einav (Stanford), Amy Finkelstein (MIT),...

Editor's Pick

Entrepreneurs are transforming the way society makes and distributes valuable things. There will be (and already are) important consequences for the way we work...

Editor's Pick

For years the North Korean playbook was obvious to the world. The Democratic People’s Republic of Korea wanted to be the center of attention....

Disclaimer: economyinnovationsexpert.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


Copyright © 2024 economyinnovationsexpert.com