Republicans Seek to Raise the Debt Ceiling by $4T, and extend $4.5T in Tax Cuts

[Zincwarrior]

House leadership revealed their plan today on tax cut limits and raising the debt ceiling. $4.5T in total permitted tax cuts, and $4T in new national debt ceiling. Thoughts USMB?

Republicans reveal Trump tax plan will cost US $4.5 trillion

The GOP also seeks an increase in the debt limit by $4 trillion, the budget resolution says.

www.newsweek.com

The Republican House Budget resolution out Wednesday reveals the Ways and Means Committee will get $4.5 trillion to lock in tax cuts, one of President Donald Trump's major proposals.

The GOP also seeks an increase in the debt limit by $4 trillion, the resolution says.

The plan, which includes a substantial increase in the debt limit, highlights the party's commitment to making permanent the tax cuts enacted during the Trump administration.

What To Know​

The newly released House GOP resolution proposes a $4 trillion debt ceiling increase while allocating $4.5 trillion in new deficits for the tax-writing Ways and Means Committee. This move aims to extend tax cuts that many Republicans argue are crucial for economic growth.

The proposal includes $4.5 trillion in tax cuts, $1.5 trillion in spending reductions, $300 billion for immigration and military efforts, and a debt limit increase. If approved, these measures would help Republicans push significant legislation through Congress along party lines.


House Freedom Caucus Chair Andy Harris, a Republican from Maryland, announced that the group will present its own tax plan this week, aligning with former President Donald Trump's priorities. This complicates House Speaker Mike Johnson's efforts to unite Republicans behind a single strategy.

Read more GOP

 

[odanny]

The grift is on.

 

[kyzr]

It doesn't say anything about Trump's new tax cuts, like SALT, no tax on OT or SS or tips.

But it appears to budget the DOGE $2T in cost-cutting by eliminating "waste, fraud, and abuse".

Full speed ahead with two Bills.

 

[kyzr]

The grift is on.

Prove it.

 

[BackAgain]

House leadership revealed their plan today on tax cut limits and raising the debt ceiling. $4.5T in total permitted tax cuts, and $4T in new national debt ceiling. Thoughts USMB?

Republicans reveal Trump tax plan will cost US $4.5 trillion

The GOP also seeks an increase in the debt limit by $4 trillion, the budget resolution says.

www.newsweek.com

Read more GOP

House Freedom Caucus Chair Andy Harris, a Republican from Maryland, announced that the group will present its own tax plan this week, aligning with former President Donald Trump's priorities. This complicates House Speaker Mike Johnson's efforts to unite Republicans behind a single strategy.

From the link in the OP (Newsweek).

So while the “leadership” may have some plan, that obviously doesn’t mean it is how it will end up.

One of the first priorities ought to be to LOWER the debt limit. Incrementally, of course.

 

[BackAgain]

Prove it.

He can’t. He won’t.

 

[Orangecat]

House leadership revealed their plan today on tax cut limits and raising the debt ceiling. $4.5T in total permitted tax cuts, and $4T in new national debt ceiling. Thoughts USMB?

I'd prefer DOGE to cut $4.5T.

 

[Mashmont]

House leadership revealed their plan today on tax cut limits and raising the debt ceiling. $4.5T in total permitted tax cuts, and $4T in new national debt ceiling. Thoughts USMB?

Republicans reveal Trump tax plan will cost US $4.5 trillion

The GOP also seeks an increase in the debt limit by $4 trillion, the budget resolution says.

www.newsweek.com

Read more GOP

This is temporary. Once the fraud is uncovered and stopped, people will be amazed at how much money won't be spent.

 

[Marener]

It doesn't say anything about Trump's new tax cuts, like SALT, no tax on OT or SS or tips.

But it appears to budget the DOGE $2T in cost-cutting by eliminating "waste, fraud, and abuse".

Full speed ahead with two Bills.

It's $1.5 trillion in spending cuts over 10 years, so $150 billion. That's just an outline, no idea where it'll actually come from. My guess is hammering away at safety net programs like Medicaid and SNAP.

 

[daveman]

Prove it.

He's been told to believe that Americans keeping more of their own money is corruption.

 

[daveman]

It's $1.5 trillion in spending cuts over 10 years, so $150 billion. That's just an outline, no idea where it'll actually come from. My guess is hammering away at safety net programs like Medicaid and SNAP.

You've seen the useless garbage USAID has been wasting money on.

They won't have to touch Medicaid or SNAP.

 

[Marener]

You've seen the useless garbage USAID has been wasting money on.

They won't have to touch Medicaid or SNAP.

Providing HIV medications to kids in Africa?

 

[JLW]

The bottom line is that deficits and the debt are like the cost of eggs for Republicans.

They don't give a damn about either when they are in power.

 

[John Edgar Slow Horses]

This will cause more inflationary pressure if successful.

 

[Rogue AI]

Providing HIV medications to kids in Africa?

Sounds like a job for Africa. What ever happened to everyone paying their fair share? Oh right, that only applies to Marxist wealth redistribution scams.

 

[John Edgar Slow Horses]

Sounds like a job for Africa. What ever happened to everyone paying their fair share? Oh right, that only applies to Marxist wealth redistribution scams.

We protect ourselves by helping others.

 

[Rogue AI]

We protect ourselves by helping others.

We are better protected by securing our borders and vetting those who wish to enter with our permission. Throwing around money is not protection nor is it reliable, it is merely idiotic wishful thinking.

 

[Zincwarrior]

We are better protected by securing our borders and vetting those who wish to enter with our permission. Throwing around money is not protection nor is it reliable, it is merely idiotic wishful thinking.

Even if you gut all that, interest, military, and SS/Medicare alone are $4T. Thats without the VA, Medicaid, NASA etc.

 

[Rogue AI]

Even if you gut all that, interest, military, and SS/Medicare alone are $4T. Thats without the VA, Medicaid, NASA etc.

So we should nothing instead, or worse, spend more?

 

[C_Clayton_Jones]

House leadership revealed their plan today on tax cut limits and raising the debt ceiling. $4.5T in total permitted tax cuts, and $4T in new national debt ceiling. Thoughts USMB?

Republicans reveal Trump tax plan will cost US $4.5 trillion

The GOP also seeks an increase in the debt limit by $4 trillion, the budget resolution says.

www.newsweek.com

Read more GOP

Republicans are incapable of sound, responsible governance.