The hard-right lawmakers are insisting on steeper spending cuts to Medicaid and the Biden-era green energy tax breaks, among other changes, before they will give their support to President Donald Trump’s “beautiful” bill. They warn the tax cuts alone would pile onto the nation’s $36 trillion debt.
The failed vote, 16-21, stalls, for now, House Speaker Mike Johnson’s push to have the package approved next week. But the Budget Committee plans to reconvene Sunday to try again. Lawmakers vowed to negotiate into the weekend as Trump is returning to Washington from the Middle East.
“Something needs to change or you’re not going to get my support,” said Rep. Chip Roy, R-Texas.
This raises the question: why would you want to invest in US companies? Republicans are presiding over a $36 trillion mountain of debt and now want to run further deficits to raise that mountain, after imposing tariffs on everybody in the weeks prior.
It feels like it’s only a matter of time until the USA’s debt bubble bursts and takes out a good chunk of the global economy with it.
BRICS are getting exactly what they wanted with Trump. This is how you destabilize the dollar and make the Chinese yuan the world’s reserve currency.