This week and going forward, we will need universal translators to decipher the financial discourse emanating from Capitol Hill.
You’ll hear a lot about budget settlements. “One bill/two bills.” “Voting for Llama.”
Let’s break down what the House and Senate Budget Committees completed last week. It sets a table about what the entire Senate will deal with this week and what the home is aiming for next week.
Congressional Republicans intend to enact the core agenda of reducing taxes and federal spending for President Donald Trump. Republicans have their own problems of passing such plans in the House of Representatives because of the slim majority of the GOP. Republicans must stick together. However, in the Senate, Republicans have 53 seats. That alone isn’t enough to crack the filibuster in the law. There is a bar there at 60. However, there are ways to overcome that obstacle. A special process called “budget adjustment” is used to bypass the filibuster and pass the bill.
Congressional Republicans intend to enact the core agenda of reducing taxes and federal spending for President Donald Trump. (Reuters)
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“Budget settlement” is not a trick or scheme. This is an old-fashioned Congressional method used by both parties to establish an agenda when filibusters cannot be prevented.
Democrats used budget adjustments to clear the filibuster hurdles to approve Obamacare from 2009-2010. Republicans deployed a Settlement Gambit in 2017 to try and get Obamacare back on track. However, Republicans managed to approve President Trump’s tax cuts through a settlement later that year. The problem is that you have to budget to use the settlement in the Senate. And the House and Senate must approve the same budget vehicle for settlement.
Let me say it again. It must be the same budgetary instrument for settlement.
It lays the foundation. This is what unfolded last week.
House Republicans initially struggled to assemble budget chassis for the final legislative plan. The first thing they had to do was to build and approve a legislative structure for this on the Budget Committee.
It took the Hercules lift, but after a six-week meeting, House Republicans ultimately moved their plans through the committee. It cuts $4.5 trillion in taxes, $2 trillion “essential” spending (eligibility, etc.) and raises debt limits by $4 trillion.
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Republicans designed the measure specifically to withdraw from the Budget Committee and appeal to conservatives.
The committee will hold that idea for a while about who has targeted the bill.
House Republicans could no longer die. That’s because Senate Republicans were moving forward with their plans. It was slimmer and didn’t focus on some of the same priorities the home demanded.
The Senate Republican package did not mention tax cuts. Instead, it tightened military spending and ended the border wall by injecting $175 billion into the Department of Homeland Security and other related agencies. Energy production also increased. Senate Budget Committee Chairman Lindsey Graham, Rs.C. claimed for a long time that voters elected President Trump and awarded the House and Senate as messages on border security resonated with Congressional Republicans. Graham believes it’s a fool’s errand to deal with tax and spending cuts first. He says the border should be the first to go up. Then move on to something else.
Senator Lindsey Graham on the left thinks it’s a fool’s errand to deal with tax and spending cuts first. (Getty Images)
You’ve definitely heard a discussion about “one bill, two bills.” This is at the heart of the debate between the House and Senate. The House wants to make one bill, or “big, beautiful bill” in the president’s slang. However, the Senate approach, by focusing first on energy and borders, and later leaving tax and spending cuts, naturally, decides to do two laws.
This is a congressional issue facing Republicans. It doesn’t matter if it’s one bill, two bills, Redville, Blueville. yes. I know this sounds like Dr. Seuss. It’s much easier to pass one thing than to approve two things in Congress. And it’s not clear that House Republicans can even pass the only bill that has just come out of the committee.
Graham has moved forward with the bill in the committee. We even managed to meet the day before the House Budget Committee. It created a very realistic possibility that the Senate could sabotage the home with that “one bill” as the House could never approve its own framework on the floor.
But there is a risk.
What happens when Republicans are hampered by inscribers and unable to re-up their tax cuts?
The Senate began a 50-hour discussion on the budget framework Tuesday night.
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The budget process is long and difficult. It peaks in the Marathon Voting Series – known as the old vote on Thursday through Friday, and perhaps Saturday morning.
This nasty movement is creating legislative products that will allow Republicans to later bypass Senate filibusters. However, the proposal must be financial in nature and not be added to the deficit for a decade.
Here are some important things to know.
The spelled mechanism produces nothing but the shell. This is the legislative chassis I mentioned previously. Both the House and Senate will ultimately end up with substantial and “binding” provisions in the future, whether border security or significant tax cuts. It needs to be discussed. “Chassis” and there is no final bill.
Therefore, this is an important stage in moving the president’s agenda. But it’s not the final result.
Remember what I said about House Republicans writing their bills to appeal to the Conservatives on the Budget Committee? The operation with the GOP brass was to specifically pry the committee’s plans. But adopting that budget proposal on the House floor is a challenge, let alone the final bill. Some conservatives don’t think the bill will be cut sufficiently. Some moderates are worried about a hole in the deficit with tax cuts. Like New York and California, high-tax state Republicans may dislike supporting a package if they can’t deal with salt. That’s the reduction in state and local taxes.
Rep. Nicole Malliotakes (RN.Y.) is concerned that he will make a hole in the deficit along with tax cuts.
“The $4.5 trillion (tax cut) doesn’t have much room for the president’s priorities, especially as it relates to tax cuts for salt and seniors, so it shares many priorities with the president.” Mario Takis said.
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One option Republicans are talking about is to offset some of the tax cuts with money brought through tariffs. They claim that they can bring in tariffs of up to $1 trillion each year. However, the total imported goods cost only $3 trillion.
Currently, there are no plans to slap 33% tariffs on all items. So the numbers seem ambitious.
Also, Republicans cannot technically “count” the revenue generated by tariffs to reduce shortages unless included in the bill. Yes, tariffs can affect revenue. In a favorable way, however, it is something that the Congressional Budget Office does not evaluate unless it is part of the legislation.
So could lawmakers put tariffs in the bill? of course. But some Republicans don’t like to vote for that provision. This is because some people interpret customs duties as general taxes.
But even as the Senate moved forward, House Speaker Mike Johnson (R-La.) called Graham’s approach the “non-starter” of the house.
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This is a congressional issue facing Republicans.
“If the house can pass one big beautiful bill and get 218 and send it to the Senate, I’ll tell you that now, we can get 51 votes on it “We’ll do that,” said R-Okla. Fox Business. “I don’t know if they can do that.”
Marine characterized the home approach as “putting all the eggs in one basket.”
Sen. Mark Wayne Marin, a Republican from Oklahoma, will speak at the Senate Armed Worship Committee Confirmation Hearing held on Tuesday, January 14th, 2025 in Washington, D.C. (Al Drago)
He then shot across the Senate bow on Wednesday morning.
The president took him into a true society to humiliate Senate Republicans, just as they began debating slimmer bills.
Senate majority leader John Tune, Rs.D. is in contact with the White House. But when speaking about the president’s decision, Thune admitted that he “didn’t see it come.”
Trump officially approved House GOP’s “one big beautiful bill” to enact his agenda.
“He wants one bill because he’s trying to get what he wants,” said Sen. Tommy Tuberville, R-Ala.
“When he says over and over again, ‘I want one bill,’ it seems like he wants one bill,” Senator Josh Hawley, R-MO observes did.
Still, Senate Republicans have made their way forward with their own package.
“I hope that leadership will sort this out, stick your fingers in your ears and say, ‘Well, we’re just trying to do what we want to do,’ but we’ll sort this out. I will,” Holy said.
Senate GOP Brass was not upset.
So, what you really have had Thune’s question.
“Are you opposed to the President by moving forward with your own budget plan?” I asked.
“I believe the president also likes options,” Thune retorted.
President Donald Trump will speak at Mar-A-Lago in Palm Beach, Florida on Tuesday, February 18th, 2025 (Pool via the AP)
The president also called Graham by name for failing to write a comprehensive bill. President Trump said the House approach “implements my first national agenda.”
Trump then sent Vice President J.D. Vance to Capitol Hill to meet Senate Republicans at his weekly luncheon.
“This post seemed to suggest that we shouldn’t move forward. It was cleared today. JD says we prefer one invoice. I’m I prefer one bill, but we move forward,” Graham said.
Therefore, the Senate will move on. However, this is the first of many steps to implementing the president’s agenda.
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And here’s the biggest question at the table right now.
Will the President make the decision to force Republicans of skeptical families to support the House package?
Can the house approve the plan?
And can the House and Senate approve the same framework?
All answers are unknown.
Chad Pergram is currently a senior council correspondent at Fox News Channel (FNC). He joined the network in September 2007 and is based in Washington, DC.
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