basquebromance
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- Nov 26, 2015
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McCarthy derails Dem plans to vote on social spending bill Thursday
Democrats delayed the vote on the $1.7 trillion package until Friday, due to a rambling speech by Minority Leader Kevin McCarthy that lasted more than four hours.
www.politico.com
here is the key quote:
The budget office said more aggressive IRS enforcement could bring in $207 billion over a decade, reducing the deficit by $127 billion. The White House has estimated revenues closer to $480 billion, however, reducing the deficit by $400 billion. The discrepancy doesn’t seem likely to endanger support from price-wary centrists. And if the administration’s estimate bears itself out, it could bolster Democrats’ arguments that the bill is “paid for.”
“This idea that we're going to pay for it by going after tax cheats — based on long experience, CBO says that is not true,” Sen. Bill Cassidy (R-La.) said. “So if we're worried about inflation, just intuitively to me, pumping more money into this economy is going to increase the risk of stagflation. If you wanted a plan to wreck the economy, I'm not sure you could do better than that."