David Morgan
WASHINGTON (Reuters) – U.S. Senate Republicans took a process step on President Donald Trump’s massive tax cut agenda on Thursday, overcoming concerns among some Republican lawmakers that the plan does not include enough spending cuts.
The Senate voted 52-48 to move forward to address Trump’s proposals for tax cuts, border law enforcement and increased military spending, while nonpartisan analysts warned that the payment could add $5.8 trillion to federal debt over the next decade.
Members hope to pass the resolution after up to 50 hours of debate and send it to the Republican-controlled House.
Both chambers must approve the same budget resolution to unlock critical parliamentary tools that will allow Republicans to bypass Senate Democrats and set up Trump agenda later this year. It may take several months.
Thursday’s vote comes the second day after the White House assured Congressional Republicans that Trump supports their desire to cut deep spending cuts.
The Senate Budget Committee plans to extend the cost of Trump’s 2017 tax cuts and deliver on a decade of new commitments to eliminate tips, overtime and social security pensions to eliminate tips, overtime and social security pensions at $1.5 trillion. That’s much lower than the estimated $4.5 trillion cost in the blueprint for homes in February.
Senate and House cost estimates vary as Senate Republicans intend to adopt a controversial approach to demanding an extension of the 2017 tax cuts that will not increase the country’s debt.
South Dakota’s Supreme Senate Republican John Thune huddled in a ballot before the vote with Republicans to address concerns about this controversial approach. Republican Sen. John Cornyn, a Republican of Texas, attended the closed-door meeting, saying leaders expressed concerns if she opposed legally opposing Trump’s agenda to the Senate agenda, including whether Republicans will try to cover Senate members, her guardian of rule.
“I think the answer is ‘no.’.”
The Senate measures also call for a $5 trillion increase in borrowing limit on $36.6 trillion in debt, which Republicans say will prevent the issue from reappearing until after the 2026 midterm elections.
The Senate Blueprint includes an ideal goal of cutting $2 trillion from increased domestic program spending during the league pandemic to win House support.
But House Republicans have expressed doubts about the Blueprint, citing enforceable spending cut targets, seeking only billions of dollars to reduce spending.
Democrats warn that lawmakers will struggle to meet their $2 trillion spending cut target without deep cuts to lower-income Americans’ Medicaid health insurance plans.
The nonpartisan committee of the nonpartisan federal budget estimates that the Senate’s budget measures could add about $5.8 trillion in debt over the next decade.
Nonpartisan budget analysts estimate that the cost of adopting all Trump’s tax proposals could be as high as $11 trillion.
(David Morgan
