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‘There will be consequences’ for GOP in 2026 after passing Trump's bill, says House Democrat
NBC News· 2025-07-03 21:30
Healthcare & Social Safety Net - The bill under discussion is projected to harm the American public by potentially impacting healthcare (Medicaid and Obamacare) and food assistance programs [2][5] - Independent analysts and the Congressional Budget Office corroborate the harmful effects of the bill, with governors from both parties expressing concerns about Medicaid cuts [4][5] - The speaker claims the bill strengthens the social safety net, but critics argue it removes millions of dollars from food assistance, impacting states and potentially affecting 16-17 million people [9][11][12] - The cuts are perceived as a transfer of wealth from the middle class and working-class families to the wealthiest individuals through permanent tax cuts [8] - Healthcare, particularly Medicaid, is considered a critical issue affecting numerous families across the country [7] Immigration & Security - The bill significantly increases funding for ICE, potentially exceeding the combined budgets of intelligence agencies like the FBI [14][15] - Concerns are raised that increased ICE funding could lead to deportations and arrests without due process, impacting communities [15][16] - Approximately 60% of individuals apprehended have not been convicted of any crime, raising questions about the rationale for increased ICE funding [16] Political Strategy & Accountability - The vote on the bill is linked to the upcoming 2026 midterm elections, with potential consequences for Republicans in competitive districts [1][2][3] - Democrats aim to win back the majority in 2026 to stop the "Trump agenda" [3] - Democrats express willingness to work with Republicans on tax cuts for middle-class and low-income families but claim Republicans prioritized tax cuts for billionaires [20][21] - Oversight and accountability are key priorities for Democrats, particularly regarding Donald Trump's alleged corruption and foreign investment deals [23][24]
'Truly immoral' legislation: House Dem rails against tax cuts in spending bill
MSNBC· 2025-07-03 13:52
One of the Democrats who spoke out overnight on the House floor was Congressman Brendan Bole of Pennsylvania. He's the ranking member of the budget committee. Here's a bit of what he had to say.The decision we have been entrusted by the American people to make will have ramifications for millions of our fellow Americans and indeed for our country for decades to come. There may not be a lot of people able to watch at 4:05 in the morning, but in just a few short hours, some of them on Medicaid will be waking ...
Rep. Ro Khanna: Trump's bill will add $4 trillion to national debt, take deficit to 8% of GDP
CNBC Television· 2025-07-03 12:52
Fiscal Policy & Debt - The bill is projected to add $4 trillion to the national debt [2] - The bill could lead to deficits reaching 8% of GDP, a level almost unprecedented during peacetime without external shocks [2] - Future reconciliation packages are promised to cut the deficit, but the means to achieve this, especially without raising taxes on the wealthy, are unclear [6][7] Tax Implications & Distribution - The tax breaks in the bill may negatively impact poorer, working-class Americans while benefiting the wealthy [3] - Approximately 60% of the benefits are expected to go to individuals earning over $220,000 [14] - Certain aspects of the bill, such as no tax on tips, the child tax credit, and permanent no tax on overtime, could be supported in isolation [14] Market & Economic Impact - The bond market's reaction to the bill has been surprisingly muted [8] - There is a concern that tariff policy is slowing the economy, which, combined with massive deficit spending, could put pressure on interest rates [10] - Permanent expensing and making tax cuts permanent could be attractive to businesses and spur investment [12][13]
'A complete slap in the face': House Democrat rips Trump spending bill
MSNBC· 2025-07-03 10:06
Healthcare & Policy Impact - Proposed budget cuts could lead to the closure of 35 rural hospitals in Kentucky [1][4] - 133,000 rural Kentuckians could lose their health insurance due to the bill [4] - Kentucky could lose $10 billion in rural Medicaid reimbursements [4] - The potential hospital closures could significantly increase travel times to medical care, impacting life-or-death situations [1] Political & Fiscal Stance - The bill is criticized for providing tax breaks to the wealthiest Americans while increasing the national debt by trillions of dollars [6] - The bill extends the 2017 tax cuts, which were previously projected to increase the national deficit [7][8] - Some Republicans privately acknowledge the negative impacts of the bill, particularly in rural states, but lack the public courage to oppose it [10][11] Democratic Response & Strategy - Democrats are actively fighting the bill, emphasizing its real-life consequences for individuals and communities [1][2] - Democrats plan to use various platforms, including social media, earned media, and community engagement, to highlight the bill's impact [13][14] - The Democratic caucus aims to frame the bill as benefiting the richest Americans at the expense of others [12]
'Taking from the poor to give to the rich': Reporter breaks down Trump's budget bill
MSNBC· 2025-07-02 13:52
Bill Overview & Political Landscape - The bill extends Trump's tax cuts, increases border security, and eliminates taxes on tips and overtime [5] - The bill narrowly passed the Senate with the Vice President breaking a tie vote, but faces division in the House [4] - Every House Democrat is strongly opposed to this bill, referring to it as a "GOP tax scam" [3] - The White House and Speaker Johnson insist the bill will reduce the deficit, but critics disagree [18] Financial Implications & Economic Concerns - The bill is described as a massive tax cut for wealthy Americans that will explode the deficit and increase the national debt [10] - The bill is taking from the poor to give to the rich and charging a huge amount to the credit card [13] - Economists are concerned about America's debt and long-term financial viability [13] - Foreign investors are already dumping the dollar, and there is strain in the bond markets [16] - The tax cut is so big that even the extraordinary cuts they're making a Medicaid and other programs just don't come close to it [21] - The bill is expected to result in a $300,000 tax cut for the wealthiest Americans and some corporations [22] Specific Provisions & Criticisms - The bill includes a special carveout for Alaska to soften the blow of changes to Medicaid [6] - The bill is criticized for reducing incentives for clean energy production [11] - The bill breaks some of the promises that President Trump made such as to reduce or eliminate taxes on social security [23]
'Why the hell did you vote for the bill?': GOP senator slammed for megabill whiplash
MSNBC· 2025-07-02 01:10
Fiscal Irresponsibility & Political Criticism - The bill is criticized for being fiscally irresponsible and adding over $3 trillion to the deficit over the next decade [16] - Elon Musk criticizes the bill as "suicidally self-destructive to America's future" and damaging to the country [6][7] - The bill includes provisions that eliminate subsidies for solar and wind energy while boosting coal and oil [7] - The bill enshrines trillions in tax cuts primarily benefiting the wealthy and corporations, including those inheriting estates over $50 million [15] Healthcare & Social Program Cuts - Between 12 million and 17 million people could lose healthcare [16] - The bill includes devastating cuts to healthcare and food assistance for poor and working-class Americans [15] Political Opposition & Uncertainty - The bill passed the Senate on a 50-50 tie broken by Vice President JD Vance [7] - Senator Lisa Murkowski voted for the bill but hopes the House will undo some of the damage [21] - The bill is described as wildly unpopular [17]
‘Very significant turning point’: Sen. Welch reacts to Trump’s megabill passing
MSNBC· 2025-07-01 17:34
I also want to bring in Democratic Senator Peter Welch of Vermont who just voted no on this bill. Uh, as we just heard from Tim Miller, a senator, this bill did seem like it was on the cusp of potentially being defeated. Uh, Lisa Marowski, again, as Tim just pointed out, had a chance to be what John McCain was for Obamacare, defy his party, and vote yes.Um, what do you make of what we just saw on the floor of the House of the Senate. Well, obviously very disappointing for us. I mean, this is a very signific ...
Rep. Jason Smith on tax bill: I strongly oppose the argument that this bill adds to the deficit
CNBC Television· 2025-07-01 12:53
The House of Representatives waiting to see if the Senate signs off on President Trump's sweeping tax and cut spending cut and spending bill. Joining us right now with where things stand at the moment is Ways and Means Committee Chairman Jason Smith. And chairman, thank you for being with us today.It's always great to be with you. So, Congressman, let's talk through what's happening. The House sent a bill to the Senate, told them, "Don't touch much of this because we have very thin margins in the House. If ...
What's In The Big Beautiful Bill And Why Elon Musk Hates It
CNBC· 2025-06-10 16:01
President Trump and Senate Majority Leader John Thune are pushing to get the Republicans' reconciliation bill passed by July 4th, b ut several senators are saying there needs to be more spending cuts. The best way, I think, to think about the Trump megabill is that it's sort of two pieces combined. One piece are priorities that Republicans have: t hese are things like securing the border, boosting defense, boosting energy production.It's stuff that Republicans ran campaign and won on in 2024 and things they ...