Whale Large Capital
  • Politics
  • World News
  • Business
  • Investing
  • Politics
  • World News
  • Business
  • Investing

Whale Large Capital

Politics

Republicans challenge ‘irrelevant’ budget office as it critiques Trump’s ‘beautiful bill’

by June 10, 2025
June 10, 2025
Republicans challenge ‘irrelevant’ budget office as it critiques Trump’s ‘beautiful bill’

Both Republicans and Democrats have used analysis from the nonpartisan Congressional Budget Office as a political cudgel when it suits them, but with unfavorable reviews of President Donald Trump’s ‘one big, beautiful bill’ coming out, some in the GOP are questioning the relevancy of the agency.

The CBO’s latest analysis of the gargantuan tax cut and spending package found that the House Republican-authored super bill would add $2.4 trillion to the national deficit over the next decade and boot millions off of health insurance.

Senate Republicans will now get their chance to tweak and change the legislation, and have vowed to do so, despite warnings from Trump to reshape the bill as little as possible.

Congressional Republicans have largely scoffed at the agency’s findings, arguing that the CBO doesn’t include expected economic growth or other factors into its scoring of the bill.

‘I don’t care what the CBO says,’ Sen. Jim Banks, R-Ind., told Fox News Digital. ‘They’re irrelevant to me. They were biased before. They’ve been biased in other things, but all the numbers speak for themselves.’

The agency’s latest score found that the House’s reconciliation offering would cut $1.2 trillion over a decade, add $2.4 trillion to the deficit and decrease revenues by $3.6 trillion. It also found that if the GOP’s proposals to slash Medicaid stay as is, nearly 11 million people would be booted from their health care.

That number cranks up to about 16 million Americans removed from the benefit rolls when factoring in Affordable Care Act provisions that are set to expire. 

However, the White House declared the CBO scores inaccurate, and argued that the package achieved, through a combination of spending cuts, reversing regulations ushered in by the Biden administration and tariffs – which are not part of the bill – roughly $6.6 trillion in savings over the next decade.  

Many raised issues with the agency’s accuracy, arguing that they got the score wrong for Trump’s 2017 tax package.

‘I mean, I heard the numbers are always wrong,’ said Rep. Troy Nehls, R-Texas. ‘What’s the purpose?’

Rep. Pat Fallon, R-Texas, agreed, and contended that it was ‘time to discuss the CBO being more damn accurate.’ 

Still, some Republicans believe the CBO serves a purpose.

Sen. Lisa Murkowski, R-Alaska, said she didn’t believe the agency should be done away with, adding ‘we need to have a source for scores.’

‘We kind of go back and forth in terms of condemning CBO because we hate their score, or praising CBO because we like the outcome,’ she said. ‘And I think that’s what we’re seeing a lot of right now, is looking at that CBO score and saying, ‘That’s not real.’’

Other lawmakers questioned what the alternative would be. Sen. Roger Marshall, R-Kan., told Fox News Digital, ‘We need something,’ but acknowledged that he felt the agency was biased, and that both parties used scores ‘to our manipulation.’

Sen. Ron Johnson, R-Wis., believes that the agency’s score was wildly incorrect. Still, he is one of the main antagonists of the current bill because it does not go far enough to achieve deep spending cuts.

The lawmaker told Fox News Digital that he believed the 50-year-old agency would soon be a relic of the past.

‘I think just AI is gonna replace them,’ he said. ‘I’m using AI all the time to do the sensitivity analysis. I don’t need CBO to do these sensitivity analyses anymore, I can do it myself.’ 

This post appeared first on FOX NEWS
0
FacebookTwitterGoogle +Pinterest
previous post
Greta Thunberg deported from Israel after Gaza-bound ‘selfie yacht’ was seized
next post
Multiple explosions reported in Colombian city of Cali

You may also like

Duffy blasts Buttigieg, accusing Biden-era official of ‘mismanagement’:...

February 18, 2025

DAVID MARCUS: Saving America from bad spending bills...

December 20, 2024

Trump eyes an end to new windmill production...

January 8, 2025

Israel delays Palestinian prisoner release after Hamas’ ‘humiliating’...

February 23, 2025

Trump admin seeks permission to fire head of...

February 17, 2025

Biden greets Trump at White House with two-word...

January 20, 2025

Statute of limitations for pandemic unemployment fraud expires;...

March 28, 2025

Hunter Biden’s criminal tax trial begins with jury...

September 5, 2024

‘Losing their minds’: Dem lawmakers face backlash for...

February 5, 2025

Trump picks Virginia official Terry Cole to lead...

February 11, 2025

    Subscribe today to receive exclusive access to all our retirement secrets and income strategies, including special financial news and updates from our experts. From time to time, our newsletters feature valuable insights and analysis on the latest financial trends. Don't miss out on these exclusive updates – join our subscription to stay informed!


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



    Latest

    • Jordan evacuates sick and injured Palestinian children from Gaza

      June 11, 2025
    • HHS brings back hundreds of staff following force reduction in latest rehiring move

      June 11, 2025
    • Trump admin slams UK, Canada, Australia and others who sanctioned Israeli officials

      June 11, 2025
    • U.S. online stores put ‘out of stock’ signs as Nintendo Switch 2 sales hit record highs

      June 11, 2025
    • New study exposes green energy org’s ties to CCP interests while undermining US

      June 11, 2025
    • Trump tells Netanyahu to end Gaza war and stop Iran threats, source says, as US ramps up pressure on Israel

      June 11, 2025

    Categories

    • Business (670)
    • Investing (661)
    • Politics (4,444)
    • World News (2,995)
    • Terms & Conditions
    • Privacy Policy
    • Contact us
    • About us

    Disclaimer: WhaleLargeCapital.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 WhaleLargeCapital.com | All Rights Reserved