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

Whale Large Capital

Politics

Johnson reveals Trump’s wishes on delivering huge policy overhaul in closed-door meeting

by January 4, 2025
January 4, 2025
Johnson reveals Trump’s wishes on delivering huge policy overhaul in closed-door meeting

Speaker Mike Johnson, R-La., told Republican lawmakers on Saturday that President-elect Trump supports a conservative policy overhaul via a single large bill, three sources told Fox News Digital.

Trump wants both the House and Senate to have such a bill on his desk by May, the sources said. The president-elect’s buy-in will likely end the growing intraparty friction on how to pass Republican goals next year via a process known as ‘reconciliation,’ which lawmakers plan to use to pass conservative policy and budget changes.

House Republicans met behind closed doors in Washington’s Fort McNair on Saturday to discuss the plan.

Reconciliation allows the Senate to bypass its traditional 60-vote threshold in favor of a simple majority, provided the legislation is focused on budgetary and other fiscal matters.

Both parties have traditionally used reconciliation to pass broad policy changes in a single bill. But the legislation also goes through a strict assessment where the Senate parliamentarian is tasked with deciding what is and is not relevant to U.S. fiscal matters. 

Notably, Democrats previously tried to use reconciliation to pass mass amnesty measures, but they were blocked.

Republicans might face similar issues with their push to add border security provisions to the bill. They’re also aiming to use it to extend Trump’s Tax Cuts and Jobs Act (TCJA) of 2017, as well as to pass measures on energy and defense.

The apparent decision by Johnson on Saturday comes after Congressional Republicans were at odds over whether to pass one or two reconciliation bills.

It is a process normally used once per year, but Senate Majority Leader John Thune, R-S.D., floated a plan last month to split Republicans’ priorities into two bills – one dealing with the border and defense and a second aimed at preserving Trump’s tax policy. 

The plan was also backed by top Trump adviser Stephen Miller.

But that push angered Republicans on the House Ways and Means Committee, who warned that two reconciliation bills could be too big a lift, and putting taxes second could imperil remaining GOP tax provisions that are set to expire at the end of this year.

House Ways and Means Committee Chairman Jason Smith, R-Mo., pointed out on Fox Business Network’s’ ‘Mornings With Maria’ that Congress has not passed two reconciliation bills into law in one year since 1997.

‘I am saying we need a reconciliation bill that has border, energy, permitting and tax. You put all four of those things together, we can deliver on that,’ Smith said.

The panel put out a memo last month warning that everyday Americans could see their taxes rise by 22% if Trump’s tax policies expire.

But other lawmakers bristled at the idea that two bills were impossible.

House Freedom Caucus Chairman Andy Harris, R-Md., told Fox News Digital last month, ‘I think we need to prove to the American people that we can actually defend our borders. The bottom line is, I think they need to be on almost parallel tracks. But I do believe that taxes are much more complicated.’

Fox News Digital reached out to Thune and Smith’s offices for comment. Thune’s office responded and declined to comment, and Smith’s office did not immediately respond.

Related Topics

House of Representatives Deficit
House of Representatives
Republicans

This post appeared first on FOX NEWS
0
FacebookTwitterGoogle +Pinterest
previous post
Thousands without heating in Moldova’s breakaway Transnistria region, after Russian gas supplies cut
next post
Mexico opens possibility of receiving non-Mexican deportees from Trump

You may also like

Trump super PAC launches $50m battleground state ad...

October 31, 2024

Putin threatens war with NATO as Russian military...

September 13, 2024

Biden takes sole credit for Israel-Hamas deal, warns...

January 16, 2025

Trump distances himself from Russia–Ukraine conflict: ‘Not our...

May 21, 2025

GOP senators: Congress should vote on Trump’s potential...

May 8, 2025

Legal experts say Kash Patel’s opposition to warrant...

January 31, 2025

Justice Alito says he spoke with Trump about...

January 9, 2025

JD Vance, Treasury Sec Scott Bessent to meet...

February 11, 2025

Trump makes play for women’s vote, vows to...

September 21, 2024

FBI investigating classified docs leak of US intel...

October 22, 2024

    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

    • Tariff fight escalates as Trump appeals second court loss

      June 2, 2025
    • SCOOP: House Freedom Caucus draws battle lines as White House readies $9.4B DOGE spending cuts

      June 2, 2025
    • Foreign nationals charged amid Trump visa crackdown for scheme to smuggle US military equipment into China

      June 2, 2025
    • Police to start new search near where toddler Madeleine McCann disappeared in 2007

      June 2, 2025
    • Inside Ukraine’s audacious drone attack on Russian air bases

      June 2, 2025
    • GOP senator demands FBI probe Biden-era vetting process for Boulder terror suspect: ‘Under attack’

      June 2, 2025

    Categories

    • Business (649)
    • Investing (661)
    • Politics (4,313)
    • World News (2,911)
    • 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