Connect with us

Hi, what are you looking for?

TheSmartCitizenReport.com

BREAKING NEWS

SCOOP: Lindsey Graham amendment signals GOP budget breakthrough, sets stage for Trump agenda

: Senate Committee on the Budget Chairman Lindsey Graham, R-S.C., is unveiling on Wednesday the upper chamber’s changes to a House-passed budget resolution in a breakthrough for getting President Donald Trump’s key agenda items through Congress. 

With the Senate’s latest action, Republicans’ much-anticipated budget reconciliation resolution is one step closer to passage, in what would be a huge win for Trump and the GOP. 

The Senate amendment includes raising the debt ceiling in the key budget process by no more than $5 trillion. This has been a request of Trump since before he took office the second time. The date estimated for a potential default has been inching closer, presenting a looming problem for Republicans in the Senate.

Republicans who argued to include the debt ceiling in reconciliation said it would prevent Democrats from having leverage down the road, when a vote to raise it would need 60 votes, forcing them to lobby Democrats for support. 

The amendment also stipulates that the provision to raise the debt ceiling can be voted on separate from the rest of the resolution, in the case that the ‘X Date,’ when the Treasury is unable to meet its financial obligations without intervention, is set to arrive sooner than Republicans are prepared to vote on the entire reconciliation package. 

Reconciliation notably lowers the vote threshold in the Senate from 60 to 51, allowing Republicans to move legislation through without Democrat support. This is viewed as a key tool for the Republican trifecta in Washington to get Trump’s policies passed. 

The Senate amendment would further make the House’s proposed extension of the Trump tax cuts permanent, doing so by using a current policy baseline that allows budget projections to be made in what some view as a more practical and realistic way. 

Senate Republicans also avoid needing the parliamentarian to make a ruling, which could have presented issues. They are relying on the authority given by statute to the budget chairman to set the current policy baseline.

The amendment’s release comes after countless meetings between key parties to the budget process, including Trump, House leaders, Senate leaders and Treasury Secretary Scott Bessent. 

On Wednesday morning, Trump met with Senate Majority Leader John Thune, R-S.D., and Senate Budget Committee Republicans ahead of the amendment text coming out. 

The White House discussion was meant to be a final check-in to make sure all parties were on the same page, a source familiar told Fox News Digital.

This post appeared first on FOX NEWS

Enter Your Information Below To Receive Latest News, And Articles.







    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!

    You May Also Like

    BREAKING NEWS

    Israeli authorities said four Israeli Defense Forces (IDF) soldiers were killed and nearly 60 people were wounded in a drone strike on a military...

    BREAKING NEWS

    Rescue services in Israel said over 60 people were wounded, some of them critically, in a drone strike in Binyamina, Israel, which the Lebanon-based...

    BREAKING NEWS

    Former President Trump ripped President Biden for going weeks without speaking with Israeli Prime Minister Benjamin Netanyahu as war continues raging in the nation,...

    BREAKING NEWS

    JOHANNESBURG – In what is described by some as electioneering and a last-minute attempt to leave a legacy, some observers say President Biden and...

    BREAKING NEWS

    Vice President Kamala Harris and former President Donald Trump are locked in an extremely tight contest for the White House, with voters virtually split...

    BREAKING NEWS

    Voters in storm-ravaged parts of the Southeast could face new hurdles at the ballot box this year following the destruction wrought by Hurricanes Helene...

    BREAKING NEWS

    Former National Institutes of Health employee Margaret Moore, accused by Republicans of helping others shield emails from the public, invoked her Fifth Amendment right...

    BREAKING NEWS

    A ‘painful’Israeli response weighs over the heads of the Iranian regime after their ballistic missile attacks on Tel Aviv on Tuesday.  President Joe Biden has...

    Disclaimer: TheSmartCitizenReport.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.