Is this the Trump supported plan or something else?

What are the timelines? $4.5T tax cut over how many years? $2T is spending cut by when?

JB99 said:

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rgvag11 said:

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House Republicans release a budget resolution that calls for cutting taxes by up to $4.5 trillion and sets a goal of slashing federal spending by $2 trillion.

The resolution also would raise the debt limit by $4 trillion ahead of a deadline this year. https://t.co/wv2tqTVnpb

— NBC News (@NBCNews) February 13, 2025

I guess we are not getting a balanced budget this year.

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How do you cut spending and raise the debt limit at the same time?

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The current budget is $7T right now. I imagine we have to raise the debt limit no matter what

waitwhat? said:

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Isn't the $4.5 trillion "tax cut" just a continuation of the 2017 tax cuts?

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I believe so. A 10 year extension.

raising the debt limit is just paying for past obligations that were already out there. That is how I understand that portion.

TommyBrady said:

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It's entertaining when people seem to forget that no matter who is president the congress will always be corrupt and incompetent. It will never change until it is forced to be changed. We keep electing morons so we keep getting moronic results.

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Agreed. Wish Trump would veto the bill but we all know he will sign whatever is put in front of him.

I heard on a podcast that Trump has a 12yr plan. Was that a Vivek? Maybe it makes more sense if we saw the full plan

Well these tweets and headlines are designed to confuse, and they certainly do, don't they?

The $4.5b is simply maintenance of existing tax rates. (the tweets and headlines make it sound like an actual cut from CURRENT rates. It's not). Spending cuts are real, even though they aren't much in comparison to the actual deficit.

Ergo, if all other things are equal, instead of the national debt going up about $20 billion over the next decade, it will go up only about $18billion. We're still in deep sht.

93MarineHorn said:

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rgvag11 said:

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House Republicans release a budget resolution that calls for cutting taxes by up to $4.5 trillion and sets a goal of slashing federal spending by $2 trillion.

The resolution also would raise the debt limit by $4 trillion ahead of a deadline this year. https://t.co/wv2tqTVnpb

— NBC News (@NBCNews) February 13, 2025

I guess we are not getting a balanced budget this year.

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For the first time in my life I wouldn't mind if they forego the tax cuts and try to balance the budget. I finally have some faith that at least the Executive Branch is serious about it.

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A percentage of the tax cuts will come back as tax revenue, as well as create liquidity for economic expansion to further drive up tax revenues. Let the people eat and the government will also prosper. It must never return to deficit spending to drive the economy.

BTKAG97 said:

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rgvag11 said:

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waitwhat? said:

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Isn't the $4.5 trillion "tax cut" just a continuation of the 2017 tax cuts?

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I believe so. A 10 year extension.

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If it's an extension of current rates then it's not even a cut. Not shocking. They love playing word games more than they love playing budget games.

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There are proposed cuts in addition to the 2017 cuts.

The dynamic over one bill versus two is going to play out here relatively quickly I think.

House wants one bill. Senate wants two.

House has been a mess and Senate has had their act together.

Personally I'd like one, but tax cuts and memorializing DOGE cuts are the big items that are (to me) must haves this calendar year.

Since when did libs start supporting a balanced budget?!

93MarineHorn said:

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rgvag11 said:

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House Republicans release a budget resolution that calls for cutting taxes by up to $4.5 trillion and sets a goal of slashing federal spending by $2 trillion.

The resolution also would raise the debt limit by $4 trillion ahead of a deadline this year. https://t.co/wv2tqTVnpb

— NBC News (@NBCNews) February 13, 2025

I guess we are not getting a balanced budget this year.

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For the first time in my life I wouldn't mind if they forego the tax cuts and try to balance the budget. I finally have some faith that at least the Executive Branch is serious about it.

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Spending is never getting cut, so give me the tax cuts (which are not cuts at all)

samurai_science said:

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rgvag11 said:

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I guess we are not getting a balanced budget this year.

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Too slim of a majority in either chamber

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And here is the problem, neither party has anyone with the..... juevos..... in Congress to do what is necessary

How about we get some real ****ing tax cuts - especially since we are all realizing our tax dollars are going to scams and grift. I bet the much, much larger Medicaid and defense budgets are also full of the same fraud and nonsense.

If we're going tarrifs then cut out the income tax and get rid of the IRS. Or go. 1-3% income tax rates as they initially were and figure out how to make it ****ing work.

rgvag11 said:

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House Republicans release a budget resolution that calls for cutting taxes by up to $4.5 trillion and sets a goal of slashing federal spending by $2 trillion.

The resolution also would raise the debt limit by $4 trillion ahead of a deadline this year. https://t.co/wv2tqTVnpb

— NBC News (@NBCNews) February 13, 2025

I guess we are not getting a balanced budget this year.

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Since SS and MC and debt payments are so much of the budget, it would have been damn near impossible to do it this year.

BTKAG97 said:

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rgvag11 said:

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waitwhat? said:

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Isn't the $4.5 trillion "tax cut" just a continuation of the 2017 tax cuts?

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I believe so. A 10 year extension.

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If it's an extension of current rates then it's not even a cut. Not shocking. They love playing word games more than they love playing budget games.

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For the purposes of reconciliation it IS a cut.

Yes the rules are stupid.

But, this is working within the rules.

Raising the debt limit is like getting another CC to pay the payments on all your other CCs

JB99 said:

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rgvag11 said:

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House Republicans release a budget resolution that calls for cutting taxes by up to $4.5 trillion and sets a goal of slashing federal spending by $2 trillion.

The resolution also would raise the debt limit by $4 trillion ahead of a deadline this year. https://t.co/wv2tqTVnpb

— NBC News (@NBCNews) February 13, 2025

I guess we are not getting a balanced budget this year.

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How do you cut spending and raise the debt limit at the same time?

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Insane levels of federal spending, that's how.

rgvag11 said:

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House Republicans release a budget resolution that calls for cutting taxes by up to $4.5 trillion and sets a goal of slashing federal spending by $2 trillion.

The resolution also would raise the debt limit by $4 trillion ahead of a deadline this year. https://t.co/wv2tqTVnpb

— NBC News (@NBCNews) February 13, 2025

I guess we are not getting a balanced budget this year.

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You post this, but you and your ilk will be whining and *****ing the most when we move towards a balanced budget.

So i don't know why you think this is some sort of gotcha.
Also, I think I've found the ShankedPunt.

I assume they are starting with $4.5t in tax cuts knowing by the time they are done they will only get $1t

Logos Stick said:

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Since when did libs start supporting a balanced budget?!

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When it became apparent it couldn't be done this year.

Slashing spending by $2T over 10 years is equal to ~1 year of deficit.

This bill does almost nothing to move the needle. Fart in the wind.

And Democrats with their usual lies about tax cuts for the rich and how this drive up costs for everyone. It won't do a damn thing either way.

The Trump tax code from his first term should be made permanent. That is not a tax cut - that is a continuation.
Grow the economy.

CUT freaking spending.

What a joke. How about we try spending as much as we take in for a year just to see if anyone dies from it.