House set to vote on Trump s budget bill
CNN: President Donald Trump wants to sign his comprehensive budget measure before Independence Day, and House Speaker Mike Johnson says lawmakers are getting ready to vote on it by tomorrow. “We’re still hopeful that we’ll land this plane, so keep checking back,” Johnson told reporters on Monday.
Numerous Republicans have praised the plan, pointing to tax benefits like larger standard deductions, an expanded child tax credit, temporary respite from tip and overtime taxes, and extensions of the 2017 Trump-era tax cuts. The package, according to President Trump, includes something for everyone.
Not everybody is on board. The law may increase the national deficit by trillions, according to the Congressional Budget Office, which is impartial. Rep. Ralph Norman (R-SC) has warned that we are adding debt to our children and grandchildren, which has fiscal conservatives worried.
In order to approve the package, Republican leaders can only afford to lose three votes in the House. Rep. Chip Roy (R-TX) is among many who have already expressed their displeasure with the Senate’s treatment of the bill. Roy claimed that his Senate colleagues had let us down.
The distribution of the tax cuts is another issue raised by critics. According to the Tax Policy Center, the wealthiest 20% of households would receive 60% of the benefits from the prolonged 2017 cuts, which would result in savings of an average of $12,000. Households making $35,000 or less would only receive $150, but middle-class households would typically receive $1,800. The bill’s effects on social programs are another reason why Democrats are criticizing it. According to the CBO, the plan would make it harder for people to get food stamps and result in millions of people losing their health insurance.
According to House Minority Leader Hakeem Jeffries (D-NY), Republicans are not the party of working-class Americans. They are the well-off, well-connected, and wealthy people’s party. The goal of all of this is to give their millionaire contributors enormous tax advantages.
