The 3.5 Trillion Dollar Reconciliation Bill -- Is It Doomed?
Build Back Better -- Hold on Joe
“No SALT, no deal,” Suozzi, a House Ways and Means Committee member, said Tuesday. The committee, which writes tax policy, will have large sway over the crafting of the $3.5 trillion infrastructure bill.
“No SALT, no deal. I stand by my call that I will not support any change in the tax code unless there is a restoration of the SALT deduction. The cap on the SALT deduction has been a body blow to the state and middle-class families of New York. In fact, the repeal of the cap would lower the taxes of New Yorkers by upwards of $12 billion a year. That’s just about as much federal aid as any relief program the federal government could provide to New Yorkers. I simply cannot stand by while the hardworking people across all of New York are hurting because of the SALT cap.” Source https://suozzi.house.gov/media/press-re … s-cap-salt
Republicans limited the SALT deduction to decrease most Americans’ taxes with the Trump Tax Cuts and Jobs Act. The Trump tax bill limited the SALT cap to $10,000. Increasing the SALT cap would primarily benefit taxpayers making more than $100,000 per year in many wealthy blue states such as California, New York, and New Jersey.
Many Democrats clearly support the raising of the SALT deduction, which includes Speaker Nancy Pelosi (D-CA), Senate Minority Leader Chuck Schumer (D-NY).
Progressives have decried any Democrat attempts to raise the deduction.
Rep. Alexandria Ocasio-Cortez (D-NY) called the deduction a “giveaway to the rich” and a “gift to billionaires.”
Sen. Bernie Sanders (I-VT) said this spring that raising the SALT cap would send a “terrible, terrible message when you have Republicans telling us that this is a tax break for the rich.”
Pelosi only has a three-vote majority in the House and cannot afford to lose many of the moderate Democrats that are demanding an increase in the SALT deduction.
Suozzi said, “I’m certain that we have enough people interested in this topic” to block the reconciliation infrastructure bill."
What are your thought on the 3.5 trillion Reconciliation Bill... Are you aware of what's in it?
Do you feel with the current huge debt due to COVID, that America can afford such a bill at this time?
Sorry Joe, no go.
Oct 2, 2021 --- In a letter on Saturday, Pelosi told Democrats that she wants the infrastructure bill passed before the end of October.
The Problem --- The vote on the bipartisan legislation in the House was delayed as the far-left wing of the Democratic caucus refused to back the bill unless there was an agreement on a separate $3.5 trillion budget reconciliation package packed with left-wing spending priorities and tax increases.
"Democrats conceded that the votes were not there to pass the infrastructure bill, with talks still ongoing with moderate Democratic -- including Sinema -- to come to an agreement on the reconciliation package. Moderates have sought to bring down the massive price tag of the bill, which can pass the Senate without a Republican filibuster if it can drum up the support of all 50 Senate Democrats."
"After the progressive wing flexed its political muscle to block the infrastructure package, Sinema slammed what she described as "an ineffective stunt to gain leverage over a separate proposal."
"Sen. Kyrsten Sinema, D-Ariz., on Saturday tore into Democratic leadership over what she described as an "inexcusable" failure to hold a vote on a bipartisan infrastructure bill -- a move she said betrays the trust of the American people."
"The failure of the U.S. House to hold a vote on the Infrastructure Investment and Jobs Act is inexcusable and deeply disappointing for communities across our country," the moderate Democrat said in a lengthy statement. "Denying Americans millions of good-paying jobs, safer roads, cleaner water, more reliable electricity, and better broadband-only hurts everyday families." https://www.foxnews.com/politics/sinema … cture-bill
IT looks like neither bill will pass at this point. Right now it appears Nancy just has nowhere to turn. She could do the right thing and vote on the infrastructure bill, and at best give Joe at least something to put in the win column. It is clear many dem's just had cold feet about killing democracy. I think they are having second thoughts about becoming a socialist country.
All the Republicans need to do is sit back and enjoy the production.
Will Bernie's/Biden's far-left Big Fat Bills do him in?
Joe Biden's domestic agenda and his presidency appear to be in trouble with a capital T.
When Biden campaigned he laid out an ambitious agenda. However, he never campaigned on $6 trillion in new spending on two bills that he calls infrastructure calls human infrastructure. Instead, he presented himself as the man that could bring the country together; and build our reputation back around the world; rid Washington of Trump; cut bipartisan deals in Congress; defeat the COVID virus. In my view hee is batting zero. Add in the botched withdrawal from Afghanistan. And we have a president one foot out of the Whitehouse.
His two infrastructure bills are stalled, caught between the far-left progressives. That insisting the bipartisan infrastructure bill can’t pass the House before the reconciliation bill passes the Senate, and the stuck-in-mud moderates that insist the bipartisan infrastructure bill must pass the House before anything else happens.
Could we witness a complete meltdown over the Biden big spending bills? That is not out of the question at this point. Biden's reconciliation bill isn't too big to fail, but actually so big we could see one or both fail spectacularly.
Biden's bill has all the same hallmarks as other signature presidential initiatives that failed spectacularly, despite huge investments of presidential political capital. Failed at the hands of a president's own party.
Donald Trump suffered an almost immediate defeat on Obamacare repeal in 2017.
Good old George W. Bush's Social Security reform imploded in a Republican Congress.
Bill Clinton failed to get his health care bill through Congress, despite an 80-seat House majority and 56 or 57 senators, and being a well-liked president.
Biden has very little political capital at this point, due to so many uncontrollable fires so early on in his Tenure There really shouldn't be any mystery here, though. It's no surprise a president who has an approval rating in the low 40's, a tie in the Senate, and a single-digit majority in the House would have difficulties getting such a historically ambitious progressive agenda win.
What do you think, will Biden, pull off a win on one or maybe both of his very expensive infrastructure bills?
Do you have any thoughts on these two bills? Do we need a true infrastructure bill passed? What do you think about the human infrastructure bill, do you know what's in it?
Related Discussions
- 36
Post Mortem-So why did Romney lose?
I am taken back to the site 'unskewed polls' where the conservatives were saying that the mainstream polling system was unfairly skewed in favor of Mr. Obama. So, I bet I could not find them now anywhere among all the bits and bites of the internet. Maybe you guys can add to this most interesting,...
- 19
Isn't this a great time for all moderate U.S. politicians to ban together?
Isn't this a great time for all moderate U.S. politicians to ban together?Since the extremist political groups, (yes all three extremists groups) have demonstrated that their ideals are basically garbage. Now is a perfect time for moderate Democrats, moderate Republicans, moderate Tea party...
- 194
Impeachment...….a POSSIBILITY
According to the Washington Examiner, based upon the findings of the Mueller report, some Democrats such as Elijah Cummings, House Oversight and Reform Committee Chairperson, are certain that President Trump will be impeached. Yes, Democrats are pressuring Nancy Pelosi to impeach Trump...
- 8
To Republicans,Conservatives, Moderates, Moderate Democrats, Independents,& Libe
To Republicans,Conservatives, Moderates, Moderate Democrats, Independents,& Libertarians out there,why do some extreme Liberals & Leftists strongly portend that in the United States, that the only way for poor people to live decently is income redistribution from the wealthier class...
- 10
"Pelosi says Dems NEAR DEAL on health care bill": Yahoo!
Web-site/URL: http://news.yahoo.com/s/ap/us_health_care_overhaulWhen was the last time A POLITICIAN kept a promise?
- 28
Americans Think the Shutdown is Trump's Fault - Do You?
A recent CNN Poll shows the majority of Americans think this is "Trump's Shutdown" (and because the GOP is playing dead, it is a GOP Shutdown also).That result should not surprise anyone because Trump told the world that "he will own the shutdown" (one of the few true things he...