Trade Masters Chronicle
  • Economy
  • Editor’s Pick
  • Investing
  • Latest News
No Result
View All Result
  • Economy
  • Editor’s Pick
  • Investing
  • Latest News
No Result
View All Result
Trade Masters Chronicle
No Result
View All Result

Senate moves full steam ahead on massive Trump budget bill after GOP divisions derail House

by
February 7, 2025
in Latest News
0
Senate moves full steam ahead on massive Trump budget bill after GOP divisions derail House

Senate Republicans are moving full steam ahead with their plans for a massive conservative policy overhaul through the budget reconciliation process, despite House GOP leaders still insisting their chamber is set to go first. 

Senate Budget Committee Chairman Lindsey Graham, R-S.C., unveiled a 61-page resolution that would fund President Donald Trump’s priorities for border security, fossil fuel energy and national defense.

It would fund completion of Trump’s border wall, as well as provide dollars for more beds in detention centers at the border. The bill would also include funds to hire more Immigration and Customs Enforcement agents, hire more personnel patrolling the border and increase the number of immigration judges in order to process the backlog of existing asylum cases.

On energy, the bill is aimed at ramping up offshore drilling leases and stopping the Biden administration’s methane emissions fee.

The legislation would also fund increased military readiness, grow the U.S. Navy and build an ‘integrated air and missile defense to counter threats,’ according to a summary provided by Graham’s office.

Graham also signaled the bill would be deficit-neutral, with his press release stating that its $342 billion in new spending will be offset by the same amount of money in savings.

Per the Senate’s plan to split Trump’s reconciliation priorities into two bills, it is expected that extensions to Trump’s Tax Cuts and Jobs Act – as well as other key Trump proposals, such as eliminating taxes on tipped and overtime wages – will be in a second plan released at a later date.

Republicans plan to use their majorities in the House and Senate to pass a wide swath of Trump policy initiatives, from extending the 2017 Tax Cuts and Jobs Act to funneling more cash to operations at the U.S.-Mexico border.

The budget reconciliation process makes that possible by lowering the threshold for Senate passage from 60 votes to a simple 51-seat majority. Because the House already operates on a simple majority threshold, it will allow Republicans to skirt Democratic opposition to pass their agenda – provided the measures included involve budgetary or other fiscal matters, as reconciliation rules call for.

The first step in reconciliation is advancing a resolution through the House and Senate budget committees, which will then give instructions to other committees of jurisdiction that will eventually form a final bill.

The Senate’s plan differs significantly from the House’s intended approach.

While both sides agree on what should be passed via reconciliation, House GOP leaders and Republicans on the Ways & Means Committee are concerned that the intense political maneuvering the process takes will mean they run out of time before passing a second bill with Trump’s tax cuts at the end of this year.

A Ways & Means Committee memo sent earlier this year projected the average American household could see taxes rise by over 20% if those provisions expire at the end of 2025.

Trump himself has repeatedly called for ‘one big, beautiful bill’ but said he ultimately was not concerned about the packaging as long as all of his priorities were passed.

House Republicans had intended to move one bill through their budget panel this week, but the process was stalled as spending hawks pushed for deeper funding cuts than what GOP leaders initially proposed.

Conservatives have insisted that any plan Republicans pass must be deficit-reducing or deficit-neutral.

House Speaker Mike Johnson, R-La., told reporters on Friday morning that he was playing ‘phone tag’ with Graham due to their schedules but signaled he still intended for the House to move ahead with their plan next week.

‘I sent him a text message early this morning and explained where we are in the process and how it’s moving aggressively,’ Johnson said.

He told reporters he hoped for a House Budget Committee markup of the bill as early as Tuesday. 

Graham, meanwhile, intends to advance his bill through committee on Wednesday and Thursday.

Senate Republicans are meeting with Trump at Mar-a-Lago on Friday night.

Fox News’ Daniel Scully contributed to this report.

This post appeared first on FOX NEWS
Previous Post

Lawmakers demand Bondi’s DOJ investigate Biden’s post-Election Day dismissal of green energy fraud lawsuit

Next Post

Deadline looms for release of JFK assassination files

Next Post
Deadline looms for release of JFK assassination files

Deadline looms for release of JFK assassination files

  • Trending
  • Comments
  • Latest
Trump’s exaggerated claim that Pennsylvania has 500,000 fracking jobs

Trump’s exaggerated claim that Pennsylvania has 500,000 fracking jobs

October 24, 2024
Buy Bitcoin Under $100K Before The Next Bull Run

Buy Bitcoin Under $100K Before The Next Bull Run

April 22, 2025
Gold and silver: the price of gold has resistance at $2360

Gold and silver: the price of gold has resistance at $2360

May 29, 2024
Obama-era officials mum on allegations of ‘manufactured’ intelligence launching Trump-Russia probe

Obama-era officials mum on allegations of ‘manufactured’ intelligence launching Trump-Russia probe

July 21, 2025
Trump brushes back Russia’s Medvedev after ‘war’ warning: ‘Watch his words’

Trump brushes back Russia’s Medvedev after ‘war’ warning: ‘Watch his words’

0
Wendy’s will offer $3 breakfast deal, as rivals such as McDonald’s test value meals to drive sales

Wendy’s will offer $3 breakfast deal, as rivals such as McDonald’s test value meals to drive sales

0
Amal Clooney played key role in ICC arrest warrants for Netanyahu, Hamas leaders

Amal Clooney played key role in ICC arrest warrants for Netanyahu, Hamas leaders

0
Ivan Boesky, inspiration for ‘Wall Street’ villain Gordon Gekko, dead at 87

Ivan Boesky, inspiration for ‘Wall Street’ villain Gordon Gekko, dead at 87

0
Trump brushes back Russia’s Medvedev after ‘war’ warning: ‘Watch his words’

Trump brushes back Russia’s Medvedev after ‘war’ warning: ‘Watch his words’

July 31, 2025
Ex-Biden advisor Mike Donilon to sit down with House investigators in autopen probe

Ex-Biden advisor Mike Donilon to sit down with House investigators in autopen probe

July 31, 2025
Apparent AI mistakes force two judges to retract separate rulings

Apparent AI mistakes force two judges to retract separate rulings

July 31, 2025
Let liberals lose their minds over Sydney Sweeney while I go jeans shopping

Let liberals lose their minds over Sydney Sweeney while I go jeans shopping

July 31, 2025
Enter Your Information Below To Receive Trading Ideas and Latest News

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    Recent News

    Trump brushes back Russia’s Medvedev after ‘war’ warning: ‘Watch his words’

    Trump brushes back Russia’s Medvedev after ‘war’ warning: ‘Watch his words’

    July 31, 2025
    Ex-Biden advisor Mike Donilon to sit down with House investigators in autopen probe

    Ex-Biden advisor Mike Donilon to sit down with House investigators in autopen probe

    July 31, 2025
    Apparent AI mistakes force two judges to retract separate rulings

    Apparent AI mistakes force two judges to retract separate rulings

    July 31, 2025
    Let liberals lose their minds over Sydney Sweeney while I go jeans shopping

    Let liberals lose their minds over Sydney Sweeney while I go jeans shopping

    July 31, 2025

    Top News

    Trump brushes back Russia’s Medvedev after ‘war’ warning: ‘Watch his words’

    Trump brushes back Russia’s Medvedev after ‘war’ warning: ‘Watch his words’

    July 31, 2025
    Ex-Biden advisor Mike Donilon to sit down with House investigators in autopen probe

    Ex-Biden advisor Mike Donilon to sit down with House investigators in autopen probe

    July 31, 2025

    Latest News

    • Trump brushes back Russia’s Medvedev after ‘war’ warning: ‘Watch his words’
    • Ex-Biden advisor Mike Donilon to sit down with House investigators in autopen probe
    • Apparent AI mistakes force two judges to retract separate rulings

    About Trade Masters Chronicle

    • About us
    • Privacy Policy
    • Terms & Conditions
    • About us
    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 TradeMastersChronicle.com. All Rights Reserved.

    No Result
    View All Result
    • Economy
    • Editor’s Pick
    • Investing
    • Latest News

    Copyright © 2025 TradeMastersChronicle.com. All Rights Reserved.