GOP tax bill on track to add more than $2.5 trillion to U.S. deficit

[Zincwarrior]

Proposed Republican tax plan would add $2.5Tr to $3.3Tr to the debt, based on $2.8Tr in tax cuts. Good job guys in reducing the deficit!

https://www.washingtonpost.com/business/2025/05/15/gop-tax-deficit-bill/

The Republican tax proposal emerging in the House of Representatives would add more than $2.5 trillion to the federal deficit over the next decade, according to nonpartisan estimates and budget experts.

That fiscal hit has triggered criticism from House conservatives, who have at times vowed to vote against legislation that adds to the national debt, which is already over $36 trillion. But House Speaker Mike Johnson (R-Louisiana) may have trouble reducing the bill’s price tag, as that would require either making fewer tax cuts or steeper spending cuts in ways unpalatable to his conference.

While the legislation is expected to change substantially before final passage, the House Ways and Means Committee’s draft plan calls for roughly $3.8 trillion in tax cuts over the next decade, according to the Joint Committee on Taxation, a nonpartisan congressional body. Other parts of the legislation would cut federal spending and bring in new revenue. Including those plans, the official cost of the bill is likely to amount to more than $2.5 trillion — and as much as $3.3 trillion, counting the interest owed on new debt, according to Marc Goldwein, senior vice president at the Committee for a Responsible Federal Budget, a Washington-based think tank.

 

[1srelluc]

Meh, the sausage is still being made but it's a lot less than it was.

 

[Zafira Cherry]

Meh, the sausage is still being made but it's a lot less than it was.

this sausage is rotten. Start over.

 

[Mashmont]

Proposed Republican tax plan would add $2.5Tr to $3.3Tr to the debt, based on $2.8Tr in tax cuts. Good job guys in reducing the deficit!

https://www.washingtonpost.com/business/2025/05/15/gop-tax-deficit-bill/

The Republican tax proposal emerging in the House of Representatives would add more than $2.5 trillion to the federal deficit over the next decade, according to nonpartisan estimates and budget experts.

That fiscal hit has triggered criticism from House conservatives, who have at times vowed to vote against legislation that adds to the national debt, which is already over $36 trillion. But House Speaker Mike Johnson (R-Louisiana) may have trouble reducing the bill’s price tag, as that would require either making fewer tax cuts or steeper spending cuts in ways unpalatable to his conference.

While the legislation is expected to change substantially before final passage, the House Ways and Means Committee’s draft plan calls for roughly $3.8 trillion in tax cuts over the next decade, according to the Joint Committee on Taxation, a nonpartisan congressional body. Other parts of the legislation would cut federal spending and bring in new revenue. Including those plans, the official cost of the bill is likely to amount to more than $2.5 trillion — and as much as $3.3 trillion, counting the interest owed on new debt, according to Marc Goldwein, senior vice president at the Committee for a Responsible Federal Budget, a Washington-based think tank.

Oh. Another doom and gloom leftwing prediction like “inflation will skyrocket with the tariffs”. It has dropped. “Grocery prices will rise”. They’ ve dropped. “Trump will crash the stock market”. It’s up for the year.
Let me know when you guys are EVER right. OK?

 

[Zincwarrior]

Oh. Another doom and gloom leftwing prediction like “inflation will skyrocket with the tariffs”. It has dropped. “Grocery prices will rise”. They’ ve dropped. “Trump will crash the stock market”. It’s up for the year.
Let me know when you guys are EVER right. OK?

Walmart announced this morning that price increases due to the Tariffs will start impacting in the next thirty days.

 

[Mashmont]

Walmart announced this morning that price increases due to the Tariffs will start impacting in the next thirty days.

China tariffs are now lower, which means ultimately Walmart prices should drop. Good job, Mr. President!

 

[1srelluc]

Walmart announced this morning that price increases due to the Tariffs will start impacting in the next thirty days.

Do you really think that we are going to listen to out of power leftist dems with no plan?

You were bitching no end about egg prices so here you go.

Grocery prices fell in April for the first time this year, marking the largest monthly decline since September 2020. Five of the six major grocery store group indexes dropped, led by a 12.7% decrease in egg prices, the U.S. Bureau of Labor Statistics reported Tuesday.

 

[Votto]

Proposed Republican tax plan would add $2.5Tr to $3.3Tr to the debt, based on $2.8Tr in tax cuts. Good job guys in reducing the deficit!

https://www.washingtonpost.com/business/2025/05/15/gop-tax-deficit-bill/

The Republican tax proposal emerging in the House of Representatives would add more than $2.5 trillion to the federal deficit over the next decade, according to nonpartisan estimates and budget experts.

That fiscal hit has triggered criticism from House conservatives, who have at times vowed to vote against legislation that adds to the national debt, which is already over $36 trillion. But House Speaker Mike Johnson (R-Louisiana) may have trouble reducing the bill’s price tag, as that would require either making fewer tax cuts or steeper spending cuts in ways unpalatable to his conference.

While the legislation is expected to change substantially before final passage, the House Ways and Means Committee’s draft plan calls for roughly $3.8 trillion in tax cuts over the next decade, according to the Joint Committee on Taxation, a nonpartisan congressional body. Other parts of the legislation would cut federal spending and bring in new revenue. Including those plans, the official cost of the bill is likely to amount to more than $2.5 trillion — and as much as $3.3 trillion, counting the interest owed on new debt, according to Marc Goldwein, senior vice president at the Committee for a Responsible Federal Budget, a Washington-based think tank.

Obamacare was created to exponentially increase Medicaid, which it is doing as the more money states spend on Medicaid the more money they get from the Federal government.

There is no real way to then pay for it without massive tax increases, which Kamala and company proposed on top of the inflation. Of course, this won't stop the increases which will inevitably lead to a medical collapse of the system so they can usher in the final solution, which is government run health care.

That's right everyone, the same government that has weaponized the IRS and DOJ, etc., for political purposes to go after their political opponents, will now do the same with your health care.

Are you a MAGA supporter? If so, you may get turned down for the cardiac transplant.

Just say'in.

 

[Zincwarrior]

China tariffs are now lower, which means ultimately Walmart prices should drop. Good job, Mr. President!

No. They are still 30%.

 

[Slyhunter]

Out of all the no's their two reasons for voting no is depriving 18.5m people currently getting Medicaid of their healthcare and increasing thee deficits. How do you satisfy both groups? Raising taxes will set up another group who screw's things up by voting no.

 

[Hollie]

Walmart announced this morning that price increases due to the Tariffs will start impacting in the next thirty days.

You should buy some personality before the price increase.

 

[Slyhunter]

 

[ThunderKiss1965]

Here comes the avalanche of leftest fiscal hawks who otherwise ignore the debt when their side is in control. Republicans also ignore the debt when they are in control.

We need a balanced budget and term limit Constitutional Amendments.

 

[Captain Caveman]

Proposed Republican tax plan would add $2.5Tr to $3.3Tr to the debt, based on $2.8Tr in tax cuts. Good job guys in reducing the deficit!

https://www.washingtonpost.com/business/2025/05/15/gop-tax-deficit-bill/

The Republican tax proposal emerging in the House of Representatives would add more than $2.5 trillion to the federal deficit over the next decade, according to nonpartisan estimates and budget experts.

That fiscal hit has triggered criticism from House conservatives, who have at times vowed to vote against legislation that adds to the national debt, which is already over $36 trillion. But House Speaker Mike Johnson (R-Louisiana) may have trouble reducing the bill’s price tag, as that would require either making fewer tax cuts or steeper spending cuts in ways unpalatable to his conference.

While the legislation is expected to change substantially before final passage, the House Ways and Means Committee’s draft plan calls for roughly $3.8 trillion in tax cuts over the next decade, according to the Joint Committee on Taxation, a nonpartisan congressional body. Other parts of the legislation would cut federal spending and bring in new revenue. Including those plans, the official cost of the bill is likely to amount to more than $2.5 trillion — and as much as $3.3 trillion, counting the interest owed on new debt, according to Marc Goldwein, senior vice president at the Committee for a Responsible Federal Budget, a Washington-based think tank.

You could cut spending, and everyone support those efforts!!

 

[Robert W]

Proposed Republican tax plan would add $2.5Tr to $3.3Tr to the debt, based on $2.8Tr in tax cuts. Good job guys in reducing the deficit!

https://www.washingtonpost.com/business/2025/05/15/gop-tax-deficit-bill/

The Republican tax proposal emerging in the House of Representatives would add more than $2.5 trillion to the federal deficit over the next decade, according to nonpartisan estimates and budget experts.

That fiscal hit has triggered criticism from House conservatives, who have at times vowed to vote against legislation that adds to the national debt, which is already over $36 trillion. But House Speaker Mike Johnson (R-Louisiana) may have trouble reducing the bill’s price tag, as that would require either making fewer tax cuts or steeper spending cuts in ways unpalatable to his conference.

While the legislation is expected to change substantially before final passage, the House Ways and Means Committee’s draft plan calls for roughly $3.8 trillion in tax cuts over the next decade, according to the Joint Committee on Taxation, a nonpartisan congressional body. Other parts of the legislation would cut federal spending and bring in new revenue. Including those plans, the official cost of the bill is likely to amount to more than $2.5 trillion — and as much as $3.3 trillion, counting the interest owed on new debt, according to Marc Goldwein, senior vice president at the Committee for a Responsible Federal Budget, a Washington-based think tank.

A public debt is a public curse.”So said James Madison in a letter to Henry Lee in 1790. At the time, the new Americangovernment was struggling to pay off its $75 million debt to France, a country whichhad its own problems dealing with an increasingly violent revolution.Today, our massive $35 trillion national debt has eclipsed the size of our economy—the largest in the world. We have the highest debt-to-Gross Domestic Product (GDP)ratio since World War II—and it’s a time of relative peace and prosperity!According to the nonpartisan Congressional Budget Office (CBO), over the nextdecade annual deficits will increase by roughly $1 trillion, adding another $20 trillionto the national debt-more than all discretionary spending. Net interest has more thandoubled in the past three years and will nearly double in the coming decade, growingto the third largest expenditure item in the federal government. For every dollar weborrow, over 60 cents will go just to paying interest on the national debt. Today, netinterest on the debt now exceeds what we spend on our entire national defense.To make matters worse, Social Security and Medicare face looming insolvency.According to the most recent Trustees report, the Medicare’s Hospital Insurance (HI)Trust Fund will be insolvent by 2036 and the primary Social Security trust fund willbe insolvent by 2033.

 

[Robert W]

During the Biden-Harris Administration’s first two years, Democrats financed their socialist agenda and vast expansion of the federal government with an unprecedented$11 trillion in spending—$6 trillion of which has been added to the national debt. Under the guise of COVID relief and “Inflation Reduction,” Democrats’ unbridled spending and the Biden-Harris failed economic policies have lit the fuse on a cost of living crisis resulting in soaring prices, a fragile economy, and a nation barreling towards the precipice of an irreparable debt crisis.President Biden’s and Vice President Harris’s "Inflation Reduction Act" (IRA) tax-and spend monstrosity imposed massive tax hikes on job creators, strangled domestic oil and gas production, unleashed an army of Internal Revenue Service (IRS) agents on working families and small businesses, expanded Obamacare subsidies for wealthy Americans, and handed out hundreds of billions of dollars in green energy tax breaks.The President and Vice President exacerbated inflation and weakened America’s competitiveness with higher taxes.

 

[justoffal]

Oh. Another doom and gloom leftwing prediction like “inflation will skyrocket with the tariffs”. It has dropped. “Grocery prices will rise”. They’ ve dropped. “Trump will crash the stock market”. It’s up for the year.
Let me know when you guys are EVER right. OK?

Orange man bad! Mashmont bad!

 

[initforme]

There are plenty of other places to cut other than Medicaid. No citizen need lose their benefits. Thats nonsensical.

 

[skews13]

Meh, the sausage is still being made but it's a lot less than it was.

In 2029, Americans making less than $30,000 will actually pay more in taxes under the GOP's plan than under current law. Americans making less than $15,000 — the poorest of the poor — will pay 53% more in taxes than they do now as their average tax rate jumps from 3.3% to 5.1%. Meanwhile, households making over a million will pay 6.4% less in taxes (totaling an estimated $74 billion collectively), as their average rate falls from 30.8% to 28.7%.

The White House prefers to highlight the JCT's estimates for 2027, when only Americans making less than $15,000 face a tax increase and decreases across the board are higher. This is because the current GOP bill front-loads a bunch of temporary new tax breaks. And while the cuts most generous to the wealthy (such as the higher estate tax threshold) are permanent, other cuts, such as the "senior bonus" that replaces Trump's promise of "no tax on Social Security," expire just days before the end of Trump's term.

 

[justoffal]

There are plenty of other places to cut other than Medicaid. No citizen need lose their benefits. Thats nonsensical.

Are we still funding research for the rainbow aspirations of transsexual earthworms,?