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

Trump budget bill could see ‘roughly’ $1 trillion in baseline spending cuts, top Republican says

admin by admin
February 5, 2025
in Latest News
0
Trump budget bill could see ‘roughly’ $1 trillion in baseline spending cuts, top Republican says

House Majority Leader Steve Scalise, R-La., said Republicans were eyeing $1 trillion as a rough baseline for spending cuts as they prepare a massive conservative policy overhaul.

‘I think when you look at where we are, we’re close to a trillion and still working,’ Scalise said in response to a question by Fox News Digital late Tuesday night. When asked by another reporter later whether Republicans were looking at a $1 trillion baseline, Scalise said, ‘Roughly.’ No final decisions have been made, however.

Republican majorities in the House and Senate are working to codify large swaths of President Donald Trump’s agenda via the budget reconciliation process. 

By lowering the threshold for Senate passage from 60 votes to 51 out of 100, the maneuver allows the party in power to skirt its opposition to advance its agenda – provided the items included relate to budgetary and other fiscal matters. The House of Representatives already has a simple majority threshold.

Disagreements over where to set the floor for spending cuts have put House Republicans behind on their ambitious schedule for reconciliation, which includes a final goal of getting a bill on Trump’s desk in May.

The House Budget Committee was expected to advance an initial resolution for reconciliation this week. That plan was derailed, however, when spending hawks on the panel balked at House GOP leaders’ initial offer of roughly $300 billion as a starting point for rollbacks to federal funding. They also rejected a higher offer nearing $900 billion in cuts, Fox News Digital was told earlier this week. 

Scalise told reporters Tuesday night that leaders were now looking at next week to advance the bill out of the House Budget Committee.

Conservatives who spoke with Fox News Digital said they doubted the spending cuts would go much deeper than the agreed-upon floor, but Republican leaders have continued to insist there will be opportunities to find areas for cuts beyond whatever level they settle on. 

Scalise also cautioned that negotiators were working against cost estimates by the Congressional Budget Office (CBO), a nonpartisan group. 

‘There are a lot of numbers floating around. I mean, you know, CBO’s got their numbers, and we’ve had real issues with them, because CBO has been wrong so many times, but yet you still have to start with their numbers,’ Scalise said. ‘And then, you know, what kind of economic growth are you gonna get if you have better energy policy and better regulatory policy? And those are real factors. And our members recognize that, but, you know, you’ve got to come to an agreement on what is that growth factor gonna be? What’s a fair number?’

GOP negotiators met on Tuesday evening to chart a path forward. A source familiar with the meeting said Speaker Mike Johnson, R-La., did not commit to anything and discussions are still ongoing. 

Republicans are hoping to use reconciliation to pass several Trump policy goals, from more funding at the border to removing taxes on tipped and overtime wages. Lawmakers are also eyeing new defense funding and pro-fossil fuel energy measures. 

House Republicans had planned to pass their reconciliation bill first, but it appears time could be running short. Senate Republicans have signaled they are ready to move ahead with their own plan if infighting delays the House GOP’s schedule.

Asked about the prospect of the Senate moving first, Johnson told reporters on Tuesday, ‘Senate will not take the lead. We’re going to, and we’re right on schedule.’

Scalise similarly said that delaying the committee mark up to next week will not alter Republicans’ overall timeline.

This post appeared first on FOX NEWS
Previous Post

Trump can delete Elizabeth Warren’s failed experiment once and for all

Next Post

UN chief sounds the alarm amid fears over possible DOGE-inspired cuts after Trump’s order

Next Post
UN chief sounds the alarm amid fears over possible DOGE-inspired cuts after Trump’s order

UN chief sounds the alarm amid fears over possible DOGE-inspired cuts after Trump’s order

  • Trending
  • Comments
  • Latest
Trade Surplus: Key Insights and Impacts on Currency

Trade Surplus: Key Insights and Impacts on Currency

August 30, 2024
Mike Johnson re-elected House speaker as GOP mutiny threat dissolves

Mike Johnson re-elected House speaker as GOP mutiny threat dissolves

January 3, 2025
House Republicans introduce bill to repurchase Panama Canal after Trump raises concerns of Chinese control

House Republicans introduce bill to repurchase Panama Canal after Trump raises concerns of Chinese control

January 9, 2025
Who is Giorgia Meloni? Trump hosts Italian PM at Mar-a-Lago

Who is Giorgia Meloni? Trump hosts Italian PM at Mar-a-Lago

January 5, 2025
Democrats project doom and gloom, not celebration, with July 4 messages

Democrats project doom and gloom, not celebration, with July 4 messages

0
Candidate who filmed himself in the Capitol on Jan. 6 seeks House seat

Candidate who filmed himself in the Capitol on Jan. 6 seeks House seat

0
Biden nearly died of an aneurysm. Risky surgery changed his life.

Biden nearly died of an aneurysm. Risky surgery changed his life.

0
Stellar and Bitcoin Cash: Stellar still in a bearish trend

Stellar and Bitcoin Cash: Stellar still in a bearish trend

0
Democrats project doom and gloom, not celebration, with July 4 messages

Democrats project doom and gloom, not celebration, with July 4 messages

July 5, 2025
Xi Jinping’s surprise no-show at BRICS Summit fuels speculation about China’s global standing

Xi Jinping’s surprise no-show at BRICS Summit fuels speculation about China’s global standing

July 5, 2025
Iran regime escalates repression toward ‘North Korea-style model of isolation and control’

Iran regime escalates repression toward ‘North Korea-style model of isolation and control’

July 4, 2025
This July 4th, a family waits: American hostage’s father pleads for son’s freedom from Hamas terrorists

This July 4th, a family waits: American hostage’s father pleads for son’s freedom from Hamas terrorists

July 4, 2025
Enter Your Information Below To Receive Trading Ideas and Latest News

    Become a VIP member by signing up for our newsletter. Enjoy exclusive content, early access to sales, and special offers just for you! As a VIP, you'll receive personalized updates, loyalty rewards, and invitations to private events. Elevate your experience and join our exclusive community today!


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    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!
    • Trending
    • Comments
    • Latest
    Trade Surplus: Key Insights and Impacts on Currency

    Trade Surplus: Key Insights and Impacts on Currency

    August 30, 2024
    Mike Johnson re-elected House speaker as GOP mutiny threat dissolves

    Mike Johnson re-elected House speaker as GOP mutiny threat dissolves

    January 3, 2025
    House Republicans introduce bill to repurchase Panama Canal after Trump raises concerns of Chinese control

    House Republicans introduce bill to repurchase Panama Canal after Trump raises concerns of Chinese control

    January 9, 2025
    Who is Giorgia Meloni? Trump hosts Italian PM at Mar-a-Lago

    Who is Giorgia Meloni? Trump hosts Italian PM at Mar-a-Lago

    January 5, 2025
    Democrats project doom and gloom, not celebration, with July 4 messages

    Democrats project doom and gloom, not celebration, with July 4 messages

    0
    Candidate who filmed himself in the Capitol on Jan. 6 seeks House seat

    Candidate who filmed himself in the Capitol on Jan. 6 seeks House seat

    0
    Biden nearly died of an aneurysm. Risky surgery changed his life.

    Biden nearly died of an aneurysm. Risky surgery changed his life.

    0
    Stellar and Bitcoin Cash: Stellar still in a bearish trend

    Stellar and Bitcoin Cash: Stellar still in a bearish trend

    0
    Democrats project doom and gloom, not celebration, with July 4 messages

    Democrats project doom and gloom, not celebration, with July 4 messages

    July 5, 2025
    Xi Jinping’s surprise no-show at BRICS Summit fuels speculation about China’s global standing

    Xi Jinping’s surprise no-show at BRICS Summit fuels speculation about China’s global standing

    July 5, 2025
    Iran regime escalates repression toward ‘North Korea-style model of isolation and control’

    Iran regime escalates repression toward ‘North Korea-style model of isolation and control’

    July 4, 2025
    This July 4th, a family waits: American hostage’s father pleads for son’s freedom from Hamas terrorists

    This July 4th, a family waits: American hostage’s father pleads for son’s freedom from Hamas terrorists

    July 4, 2025

    Top News

    Democrats project doom and gloom, not celebration, with July 4 messages

    Democrats project doom and gloom, not celebration, with July 4 messages

    July 5, 2025
    Xi Jinping’s surprise no-show at BRICS Summit fuels speculation about China’s global standing

    Xi Jinping’s surprise no-show at BRICS Summit fuels speculation about China’s global standing

    July 5, 2025

    Latest News

    • Democrats project doom and gloom, not celebration, with July 4 messages
    • Xi Jinping’s surprise no-show at BRICS Summit fuels speculation about China’s global standing
    • Iran regime escalates repression toward ‘North Korea-style model of isolation and control’

    About Welthok

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

    Copyright © 2025 welthok.com | All Rights Reserved

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

    Copyright © 2025 welthok.com | All Rights Reserved