>> LIVE FROM WASHINGTON, D. C. , THIS IS "BALANCE OF POWER," WITH JOE MATTHEW AND KAYLEE LINES.JOE: BACK TO THE DRAWING BOARD ON THE BIG, BEAUTIFUL BILL. WELCOME TO THE THURSDAY EDITION OF "BALANCE OF POWER," AS THE SENATE PARLIAMENTARIAN HAS HER SAY, WILLING AND ELIGIBLE CHANGES TO MEDICAID THAT COULD UPSET THE APPLE CART HERE ON CAPITOL HILL. I'M JOE MATTHEW ALONGSIDE KAYLEE LINES.THANKS FOR BEING WITH US. ACCORDING TO DEMOCRATS ON THE HILL, IT BLOWS A $250 MILLION HOLE IN THE BILL AND IT COULD BLOW THE T ...

Welcome back. That Fourth of July deadline to pass the current version of President Trump's mega bill is now looking a bit less likely. Let's get to Emily Wilkins with the details on what happened this morning.Emily, hey, Kelly. Well, yeah, the Trump mega bill has hit a major hurdle that could increase the cost of the bill and ultimately complicate its passage. Now, remember this bill, it's going through that special process where it only needs Republican support to pass, but that means it's restricted in o ...

Fiscal Policy & Deficit Concerns - The industry emphasizes the importance of avoiding tax increases for Americans [3] - The industry expresses concern that the Senate bill could add up to $1 trillion of additional deficits [5] - The industry believes deficits should go down to combat inflation and lower interest rates [8] - The industry highlights the need for more cost savings to combat inflation and lower interest rates [12] - The industry notes that the House bill assumed 26% economic growth and aimed to be roughly break-even, with a potential $72 billion increase in deficits over a decade [4] Welfare & Work Requirements - The industry advocates for work requirements for those receiving benefits like Medicaid and food stamps [15] - The industry aims to return to the common sense welfare reform of the 1990s [16] - The industry points out that Medicaid benefits are projected to increase by 30% over the next 10 years under the proposed bill [19] - The industry wants to ensure that food stamp dollars are redirected to those who most need them with appropriate eligibility checks [20] Energy Policy - The industry opposes subsidizing inefficient energy that enriches the Chinese [6] - The industry wants to terminate the Green New Deal subsidies [5][8] State and Local Tax Caps - The industry opposes rewarding blue state high tax jurisdictions with a big pop to the state and local tax caps, which could cost another $350 billion [17]

President Trump and his team making one final push to get the president's tax bill across the finish line by next week. Michael Falcon there is uh the deputy treasury secretary and uh Mr. . Secretary it's good to see you from watching from where we are.It just seems like there's you know so many we're going to have Ran Paul on for example there's so many different constituencies you know single person constituencies on both of we just had Michael on as well. Are you confident that when push comes to shove t ...

Senate Republicans has set up a potential fight uh with the uh House following massive changes uh to the president's tax bill. A sticking point in the House raising the state and local tax deduction to $40,000. The Senate uh would like it to remain where it is at $10,000.Joining us now, Republican uh Congressman Nick Loa. Congressman, thanks for uh for joining us this morning. Can you you can make the case for for 40,000. Can you make the case for taking Can you make the case for taking it off completely.Ye ...

Budget Bill & Market Focus - The Senate's version of the budget bill differs significantly from the House version, particularly regarding salt deductions, which are proposed to return to $10,000 from $40,000 [2] - The bill is perceived as market-driven, aiming to strengthen the economy, with tax cuts playing a significant role [4][6][14] - The bill is not primarily focused on cost reduction and is expected to increase the national debt [5][6] Medicaid & Work Requirements - The Senate's version avoids drastic cuts to Medicaid expansion, maintaining the federal government's share at 90% instead of reducing it to 50%, which would have affected approximately 20 million people [3][4] - Implementing work requirements for Medicaid recipients is complex and could lead to bureaucratic challenges and potential legal battles [8][9][10][12] - States may need to invest significant funds to implement and defend work requirement systems in court [12] Economic Outlook & Tax Cuts - Tax cuts are expected to support the economy, potentially leading to a rate cut later in the fall [14][15] - Weak job numbers are anticipated in September, October, and November due to federal employees leaving, which could impact how tax cuts are perceived [15][16] - Reinvesting business tax cuts back into the economy is crucial for achieving higher growth and managing the deficit [17] Medicaid System Challenges - Medicaid is overly complex, with approximately 1,500 ten-digit codes, leading to waste, fraud, abuse, and misbilling [22][23][24] - Simplifying Medicaid at the federal level is essential to address these issues, but Washington often overlooks the complexities at the grassroots level [25][27] - Medicaid and Medicare are major drivers of increasing government spending, while discretionary spending receives more attention [30][31] Fiscal Sustainability Concerns - A fiscal crisis is anticipated in approximately eight years, with Social Security and Medicare facing bankruptcy and debt reaching $42 trillion [33][34] - Interest rate payments are projected to increase from $1 trillion to $1.3 trillion annually in about nine years [34] - Addressing these long-term fiscal challenges requires political courage, but there is a reluctance to tackle issues like Medicaid and Medicare [33]

Legislative Action & Political Strategy - The Senate is working on changes to the House-passed reconciliation bill with a July 4th deadline [1][2] - The Senate aims to make changes to the bill, but they are not expected to be radical [4] - Senate leadership is actively listening to members' concerns and incorporating ideas to ensure the bill's passage [5][6] - Securing the border, national security, and energy are key priorities for the bill [3] Fiscal & Economic Considerations - The bill is considered important for the economy and the prosperity of many people [6] - Maintaining current tax levels is a priority [3] Benefit Programs & Healthcare - Focus on ensuring benefits reach those who deserve and need them, specifically regarding SNAP and Medicaid [8][13] - Addressing waste, fraud, and abuse within benefit programs is crucial [9] - States are on tight budgets, and the federal government will consider this when implementing changes to programs like SNAP [10] - Medicaid is the fastest-growing part of the healthcare system and needs to be controlled [15] - Implementing work requirements and more frequent eligibility attestations for Medicaid beneficiaries are being considered [14] - The expansion of Medicaid under the Affordable Care Act is being reviewed to preserve benefits for those who qualify [13]

This is about if it bleeds it leads. That's right. So he has created and manufactured violence so that he can have a show on the television.But other people, older people, folks who are disabled, young people are going to be bleeding when Medicaid gets cut, when people are evicted from their homes. And this has been an illegal deployment of the Marines and the National Guards without the request or the consent of the sitting mayor and the sitting governor of the state of California. Making it clear, Congres ...

This is about if it bleeds it leads. That's right. So he has created and manufactured violence so that he can have a show on the television.But other people, older people, folks who are disabled, young people are going to be bleeding when Medicaid gets cut, when people are evicted from their homes. And this has been an illegal deployment of the Marines and the National Guards without the request or the consent of the sitting mayor and the sitting governor of the state of California. How can more Democrats c ...

Fiscal Policy & Economic Impact - Proposed spending cuts target SNAP and Medicaid, totaling approximately $560 billion over a decade [2] - Congressional Budget Office estimates 10.9 million fewer insured Americans due to these cuts, potentially impacting hospitals and healthcare systems [3] - Tax cuts favor the wealthy, while spending cuts disproportionately affect the poor [5] - Concerns raised about the impact on rural communities and vulnerable populations, including children reliant on Medicaid [7][8] - The bill may lead to privatization of government services and increased financial burden on states through block grants [9] Trade & Tariffs - China will impose a six-month limit on rare earth export licenses for US manufacturers [11] - US manufacturers rely on Chinese rare earth minerals for battery and auto production, creating a leverage point for China [13] - May inflation report was less than expected due to pre-tariff purchases and companies absorbing some tariff costs [16][17] - Economists anticipate that a 55% tariff against China will eventually lead to higher prices for consumers [17][18] Labor Market & Immigration - May jobs report showed a drop in the labor force, potentially reflecting fewer immigrants entering the workforce [19] - Concerns that immigration crackdown could limit job and economic growth [20] Consumer Impact - Consumers are starting to feel the impact of rising prices, particularly in rural communities with limited buying options [21][22][23]