Unique Crypto Strategies
  • Business
  • Politics
  • Investing
  • World
  • Business
  • Politics
  • Investing
  • World

Unique Crypto Strategies

Politics

Scoop: Key conservative caucus draws red line on House budget plan

by January 30, 2025
January 30, 2025
Scoop: Key conservative caucus draws red line on House budget plan

DORAL, Fla. — Leaders within the House GOP’s largest caucus are drawing a red line in congressional Republicans’ budget talks.

The Republican Study Committee’s (RSC) steering group is calling for any budget reconciliation plan to ultimately lead to reductions in the U.S. deficit, which occurs when the federal government’s spending outpaces its revenues in a given fiscal year.

‘Reconciliation legislation must reduce the federal budget deficit. Our national security depends on our ability to bring about meaningful fiscal reform,’ the official position, first obtained by Fox News Digital, said. 

RSC leaders met behind closed doors at House Republicans’ annual retreat to hash out their stance. GOP lawmakers were at Trump National Doral golf course in Florida for three days of discussions on reconciliation and other fiscal deadlines looming on the horizon.

They have been negotiating for weeks on how to use their razor-thin majorities in the House and Senate to pass massive conservative policy changes through the budget reconciliation process.

By reducing the threshold for Senate passage from 60 votes to a 51-seat simple majority, reconciliation allows a party in control of both congressional chambers to enact sweeping changes, provided they are relevant to budgetary and fiscal policy.

At 178 members, RSC is House Republicans’ largest inter-conference group. It often acts as the House GOP’s de facto ‘think tank’ on policy matters.

The group is being led this year by Rep. August Pfluger, R-Texas. Its previous chairman is Rep. Kevin Hern, R-Okla., who was recently elected House Republican Policy Committee chair – an example of RSC’s close ties to GOP leadership.

Republican lawmakers have their work cut out for them this year as they work to unify for congressional leaders’ preferred timeline for the reconciliation process.

Speaker Mike Johnson, R-La., said Wednesday that he intends to have a House-wide vote on an initial budget resolution in late February.

But once Rep. Elise Stefanik, R-N.Y., departs for the Trump administration as expected, House Republicans will not be able to afford any defections to pass legislation along party lines. In the Senate, the GOP can lose two lawmakers to still meet the 51-vote threshold.

And President Donald Trump outlined several specific policies he wants Republicans to include in their reconciliation legislation – including no taxes on tips or overtime pay and more funding for the U.S.-Mexico border – which could add to the federal deficit if not paired with significant spending cuts.

Republicans have floated various ways to achieve those cuts, including adding work requirements to federal benefits and rolling back progressive regulations enacted during the Biden administration.

Johnson said he wanted Republicans’ final product to be deficit-neutral or better.

‘Anything we do, is going to be deficit-neutral at least, and hopefully deficit-reducing, because we think we’ve got to change that trajectory,’ he said on Wednesday. ‘So that is part of the healthy discussion we’ve been having. And everyone has lots of opinions about that, of course. And, the opinions are welcomed.’

The U.S. is running a cumulative deficit of $710 billion in fiscal year 2025 so far, according to the Bipartisan Policy Center. It’s $200 billion more than the same period in FY 2024.

Meanwhile federal revenues were $1.1 trillion through December, a decrease of 2% from the same period prior, the group said.

This post appeared first on FOX NEWS
0
FacebookTwitterGoogle +Pinterest
previous post
Frontier Airlines proposes merging with fellow budget carrier Spirit — again
next post
DeepSeek is giving the world a window into Chinese censorship and information control

You may also like

Israel’s Netanyahu delays Gaza cease-fire deal, accusing Hamas...

4th round of US-Iran talks ends as Trump...

Trump’s ‘Golden Dome’ will need Manhattan Project-scale whole-of-government...

Top Biden ally ‘disappointed’ by president’s veto on...

Trump FCC chair targets NPR, PBS for investigation...

Trump names Susie Wiles as first female White...

Netanyahu says ‘leftist Deep State’ in Israel, US...

Trump signs order to declassify files on JFK,...

Trump leaves China guessing what his next move...

VP Vance blasts McConnell’s vote against Trump Pentagon...

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest

    • Ivanhoe, Zijin Halt Operations at Kakula Copper Mine in DRC

    • What Comes After ETFs? The Case for Tokenized Assets

    • Justice Department tells American Bar Association it will no longer comply with ratings for judicial nominees

    • Sen Ron Johnson suggests he may not run for re-election in 2028

    • Senate Republicans plan hearing on Biden’s alleged cognitive decline cover-up

    Categories

    • Business (475)
    • Investing (2,256)
    • Politics (3,701)
    • Uncategorized (1)
    • World (2,386)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: uniquecryptostrategies.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 uniquecryptostrategies.com | All Rights Reserved


    Back To Top