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

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

by February 7, 2025
written by February 7, 2025

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
0 comment
0
FacebookTwitterPinterestEmail

previous post
Southern California Edison acknowledges videos suggest link between equipment and Eaton fire
next post
Deadline looms for release of JFK assassination files

related articles

Trump ‘doesn’t need permission’ from Congress to strike...

June 20, 2025

Foreign policy experts rip Tim Walz’s claim that...

June 20, 2025

Inside the Situation Room, where Trump and his...

June 20, 2025

Bernie Sanders says Israeli PM ‘wrong’ both in...

June 20, 2025

UN nuclear chief says Iran has material to...

June 20, 2025

The new map that could be guiding Trump’s...

June 20, 2025

‘No basis in reality’: Expert turns tables on...

June 20, 2025

Trump’s unpredictable Middle East moves actually follow a...

June 20, 2025

Iran talks with Europeans set for Friday; White...

June 20, 2025

Kurilla warfare: Meet the general leading US military...

June 19, 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

  • Kamala Harris praises Biden’s ‘unmatched’ legacy in first remarks since announcing 2024 bid

    July 23, 2024
  • Disgraced ex-Sen. Bob Menendez sentenced to 11 years in bribery case

    January 29, 2025
  • Lawyer of whistleblower in Trump impeachment case sues administration over revoked security clearance

    May 6, 2025
  • Democrat rep vows to work with Trump on key part of tariff plan: ‘Hoping that I can help’

    April 3, 2025
  • Trump strips security clearances from law firm tied to Jack Smith cases

    February 25, 2025

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

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

    July 19, 2024
  • 4

    Forex Profit Calculator: Maximize Your Trading Potential

    July 10, 2024
  • 5

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

    July 17, 2024

Categories

  • Economy (829)
  • Editor's Pick (5,013)
  • Investing (634)
  • Stock (810)

Latest Posts

  • A look back at Trump’s past debates

    September 10, 2024
  • Dow slips 1,700 points, while S&P sheds Wednesday’s gains; big tech, bank stocks see steep declines

    April 11, 2025
  • Comprehensive Guide to Money Market Accounts

    January 28, 2025

Recent Posts

  • Red state sheriff credits Trump’s border policies for already helping his small county: ‘Big impact’

    March 5, 2025
  • Does President Trump really need to cut down Andrew Jackson’s magnolia tree? Expert weighs in

    April 2, 2025
  • Nvidia CEO Huang says AI has to do ‘100 times more’ computation now than when ChatGPT was released

    February 28, 2025

Editor’s Pick

  • Trump says he is pulling security clearances for people he does not ‘respect’

    February 10, 2025
  • Digital Social Security cards coming this summer

    June 9, 2025
  • War-torn regions have keen interest in US elections

    October 30, 2024
  • 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