WHAT IS IN THE MAGA BUDGET?
As expected, there are Trillions in tax cuts for the wealthy, and to pay for those cuts, there will be cuts in dozens of social programs. Including medical cuts, food programs for the poor, and many other benefits for working Americans.
In the early morning hours, when hardly anyone was watching, except me, of course, the Senate approved another MAGA BUDGET OUTLINE.
With a 51 to 48 vote with all Democrats and two Republicans voting no, Republicans tried to unlock a unique legislative process to pass Donald Trump's Agenda.
The House is expected to vote on the package this week. The main goal of this plan is to set the table for Republicans to extend the expiring provisions of the 2017 Trump tax cuts. Without action this year, Americans would see a $4.5 trillion tax increase starting in 2026.
"We are determined to make tax relief permanent for working families," said Senate GOP Leader John Thune.
That statement is not entirely correct. The tax cuts are overwhelming favorable to big business and higher income Americans.
Meanwhile, Democrats tested out their future arguments on the GOP’s budget reconciliation package, which cannot be stopped by a Senate filibuster.
"I will never support a bill that uses Medicare, Medicaid or SNAP cuts to pay for tax cuts for billionaires," added Sen. John Fetterman (D-PA).
Two Republican Senators voted against the budget outline: Sen. Rand Paul (R-KY) and Sen. Susan Collins (R-ME). Sen. Patty Murray (D-WA) missed the final vote, which finished up around 2:30 am.
Just one reminder - there are no details in this budget resolution. This sets the parameters of how much in tax cuts, how much in spending cuts, and how much in extra spending can be approved by Congress through the budget reconciliation process.
These are some of the highlights:
o Over $5 trillion in new tax cuts. o $14 trillion in new deficits over 10 years.
o Debt goes from $36 trillion to over $50 trillion. o Pentagon spending tops $1 trillion in 2032. o Increases the debt limit by $5 trillion.
o $150 billion extra for defense spending. o $175 billion for immigration enforcement.
Please subscribe.
Popular Podcasts
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations. Special Summer Offer: Exclusively on Apple Podcasts, try our Dateline Premium subscription completely free for one month! With Dateline Premium, you get every episode ad-free plus exclusive bonus content.
On Purpose with Jay Shetty
I’m Jay Shetty host of On Purpose the worlds #1 Mental Health podcast and I’m so grateful you found us. I started this podcast 5 years ago to invite you into conversations and workshops that are designed to help make you happier, healthier and more healed. I believe that when you (yes you) feel seen, heard and understood you’re able to deal with relationship struggles, work challenges and life’s ups and downs with more ease and grace. I interview experts, celebrities, thought leaders and athletes so that we can grow our mindset, build better habits and uncover a side of them we’ve never seen before. New episodes every Monday and Friday. Your support means the world to me and I don’t take it for granted — click the follow button and leave a review to help us spread the love with On Purpose. I can’t wait for you to listen to your first or 500th episode!