• Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock
Editor's Pick

GOP rebels push for $2.5 trillion cuts in Trump budget bill during tense closed-door meeting

by February 5, 2025
written by February 5, 2025

Republican spending hawks in the House of Representatives are pushing their leaders to include at least $2.5 trillion in spending cuts in a massive piece of legislation intended to advance President Donald Trump’s agenda.

Republicans held their weekly closed-door agenda meeting on Wednesday where they discussed a path forward via the budget reconciliation process. 

By lowering the threshold in the Senate from two-thirds to a simple majority – which the House already operates under – reconciliation allows the party in power to pass sweeping fiscal policy changes while skirting the opposition.

Several sources told Fox News Digital there was significant ‘frustration’ within the House GOP conference on Wednesday over a lack of a concrete final plan from Republican leadership. 

One GOP lawmaker said that tension bubbled up with several ‘heated exchanges,’ with conservatives demanding a concrete plan and minimum spending cuts at significantly higher levels than what was initially proposed.

‘I think there’s a lot of frustration right now,’ the lawmaker told Fox News Digital. ‘They’ve been trying to be inclusive, but not every open forum they’ve offered is giving members the ability to say, ‘I feel like people are listening to me,’ because I don’t know that’s the case right now.’

There’s also concern that the Senate, which is growing impatient with the House, could move forward with its own plan if the House doesn’t release one first – which House Republicans worry will include much shallower spending cuts than what could pass in the lower chamber.

‘What we’re worried about is losing the opportunity. I think we’re more likely to cut than they are,’ a second GOP lawmaker said.

Senate Budget Committee Chairman Lindsey Graham R-S.C., announced plans to move forward with the upper chamber’s own bill on Wednesday afternoon. He now plans to advance a measure through his committee next week.

A third House Republican said GOP lawmakers were fed up waiting for a ‘play call.’

But senior House GOP aides pushed back on the notion there was no play call, pointing out that Republican leaders held countless listening sessions culminating at the recent three-day House GOP retreat in Miami to consult members and emerge with a blueprint for a one-bill strategy that maintains scoring flexibility. The aides said the reconciliation process has had a 95% participation rate among House Republicans.

House GOP leaders were forced to delay a key vote on advancing a reconciliation bill through the House Budget Committee, the first step in the process, after spending hawks pushed back on initial proposals for spending cuts between $300 billion and $600 billion.

House Majority Leader Steve Scalise, R-La., said on Tuesday night that it would likely be planned for next week, but that leaders’ final goal of having a bill on Trump’s desk in May remained unimpeded. 

Three sources told Fox News Digital that leaders are floating a plan that would include roughly $1.65 trillion as a baseline for spending cuts, though two people stressed they saw the figure as one of several tentative ideas rather than a final plan.

Two other sources said it would also include measures that lead to an additional $1.65 trillion in economic growth.

Republicans are trying to pass a broad swath of Trump policies via reconciliation, from more funding for border security to eliminating taxes on tips and overtime wages. Trump has also made clear that he views extending his Tax Cuts and Jobs Act (TCJA) of 2017 as vital to the process.

The tax cuts have proved a sticking point with some spending hawks, however, because several estimates show they could add upwards of $1 trillion to the federal deficit over 10 years if extended. Those spending hawks have said they support extending the tax cuts but are seeking deep funding rollbacks elsewhere to offset them.

Three people involved in the discussions also told Fox News Digital that House GOP leaders are considering extending the TCJA tax cuts by five years instead of 10 to mitigate those concerns.

Reps. Chip Roy, R-Texas, and Ralph Norman, R-S.C., two conservative members of the House Budget Committee, both told reporters they wanted to see the baseline for spending cuts set at roughly $2.5 trillion.

Roy told reporters that $2.5 trillion would amount to roughly $250 billion per year in federal savings over 10 years – while pointing out the U.S. was currently running a $36 trillion national debt.

House GOP leaders vowed to seek $2.5 trillion in spending cuts back in December, to get conservatives on board with a bill averting a partial government shutdown.

‘They said $2.5 trillion of cuts. So, deliver. That will unlock the door,’ Roy said.

Norman told reporters multiple times this week that he wants between $2 trillion and $3 trillion in cuts.

This post appeared first on FOX NEWS
0 comment
0
FacebookTwitterPinterestEmail

previous post
Mattel says Barbies and Hot Wheels could soon get more expensive under Trump’s tariffs
next post
‘Sesame Street in Iraq’: USAID’s ‘wasteful and dangerous’ spending exposed by senator

related articles

Trump denounces court’s ‘political’ tariff decision, calls on...

May 30, 2025

President Trump teases ‘last day, but not really’...

May 30, 2025

State Dept says DOGE’s changes will be permanent...

May 30, 2025

Jill Biden should have to answer for ‘cover...

May 29, 2025

DOGE staffing shakeup as Elon Musk hangs up...

May 29, 2025

Hawley urges DOJ probe of Chinese trucking company

May 29, 2025

Less than half of DOGE-terminated contracts can be...

May 29, 2025

Flashback: Top five wildest moments from Elon Musk’s...

May 29, 2025

Sen Ron Johnson suggests he may not run...

May 29, 2025

Justice Department tells American Bar Association it will...

May 29, 2025
Enter Your Information Below To Receive Free Trading Ideas, 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!

Latest News

  • House committee demands interviews with FEMA employees about order to avoid Trump supporters’ houses

    November 18, 2024
  • Prestige Wealth Inc. (PWM) Stock Price Analysis

    September 20, 2024
  • Here’s how to stream Inauguration Day and host a fabulous party

    January 16, 2025
  • JPMorgan Chase Q2 2024 results: Revenue soars with investment banking gains

    July 12, 2024
  • Biden admin announces another $125M in military assistance for Ukraine as fighting intensifies on Russian soil

    August 9, 2024

Popular Posts

  • 1

    Secret Service admits leaning on ‘state and local partners’ after claim it ignored Trump team’s past requests

    July 21, 2024
  • 2

    Elon and Vivek should tackle US funding for this boondoogle organization and score a multimillion dollar win

    December 4, 2024
  • 3

    Forex Profit Calculator: Maximize Your Trading Potential

    July 10, 2024
  • 4

    Five more House Democrats call on Biden to drop out, third US senator

    July 19, 2024
  • 5

    Biden calls to ‘lower the temperature’ then bashes Trump in NAACP speech

    July 17, 2024

Categories

  • Economy (829)
  • Editor's Pick (4,723)
  • Investing (624)
  • Stock (773)

Latest Posts

  • Long US30: primed for Rebound, strong support at 38,550 and positive labor data fuel optimism

    August 8, 2024
  • USDCAD and USDCNH: USDCAD is trying to form a new low

    August 29, 2024
  • Schumer gathers key committee Dems to talk looming Hegseth confirmation hearing

    January 14, 2025

Recent Posts

  • Long AON: bullish momentum above $360 with breakout potential supported by european market resilience

    November 7, 2024
  • SOUN Stock is Soaring By 1.64%. Will It Maintain Its Gains?

    August 27, 2024
  • Stellar and Bitcoin Cash: Stellar retests previous low

    July 25, 2024

Editor’s Pick

  • An interest rate cut is coming. Here’s what to do with your money beforehand.

    August 10, 2024
  • Sen. Mike Lee warns Democrats would ‘Rule America uncontested for 100 years’ if they sweep 2024 elections

    November 4, 2024
  • With Trump digital coins, billions of dollars — and crypto’s credibility — are at stake

    January 22, 2025
  • About us
  • Contacts
  • Privacy Policy
  • Terms & Conditions

Disclaimer: moneyrisetoday.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.

Copyright © 2025 moneyrisetoday.com | All Rights Reserved

Money Rise Today – Investing and Stock News
  • Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock