Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Politics

Senate GOP lawmakers bash $1.66 trillion Johnson-Schumer budget agreement: ‘Can and must do better’

by January 9, 2024
January 9, 2024
Senate GOP lawmakers bash $1.66 trillion Johnson-Schumer budget agreement: ‘Can and must do better’
Read this article for free!
Plus get unlimited access to thousands of articles, videos and more with your free account!
Please enter a valid email address.
By entering your email, you are agreeing to Fox News Terms of Service and Privacy Policy, which includes our Notice of Financial Incentive. To access the content, check your email and follow the instructions provided.

Several GOP senators, in alignment with House Republicans, expressed outrage over the agreed-upon annual government spending cap of $1.59 trillion brokered between House Speaker Mike Johnson and Senate Majority Leader Chuck Schumer over the weekend. 

Lawmakers argued Monday that this figure neglects ample Republican suggestions for budget cuts. Meanwhile, the first spending deadline is fast approaching on Jan. 19. That means there are just eight legislative days until Congress must pass the first batch of appropriations to fund several federal agencies to avert a government shutdown. The second deadline is Feb. 2. 

‘As the House Freedom Caucus has noted, the actual spending levels in this plan are nearly $100 billion above what we are being promised, but mostly preserve all the pre-existing funding for Biden’s priorities,’ Sen. Mike Lee, R-Utah told Fox News Digital on Monday. 

‘At a time when we’re $34 trillion in debt and inflation is hollowing out America’s middle class, Republicans can and must do better than this,’ he said. 

The $1.59 trillion figure was part of an agreement mandated by the Fiscal Responsibility Act (FRA) last year, a compromise reached during debt limit talks between President Biden and then-Speaker Kevin McCarthy, R-Calif. 

Democratic leaders said the final top line would also include an additional $69 billion in nondefense discretionary spending that was part of a McCarthy and Biden side deal at the time. That would bring the total to roughly $1.66 trillion, a figure the House Freedom Caucus called ‘a total figure.’

The budget comprises of $886 billion allocated for defense and $704 billion designated for nondefense expenses.

Sen. Roger Marshall, R-Kans., a member of the upper chamber’s budget committee, said there will be at least a dozen Republican senators who ‘are going to have to look twice at this number.’ Nonetheless, he thinks the budget in its current form will still reach the 60 votes needed to pass.

‘Speaker Johnson is gonna have to try really hard to get his conference on board with this, but I don’t think he’s going to ever get more than 90% of them on board with it,’ Marshall told Fox News Digital on Monday. 

‘He needs every vote he can get, and they’re going to want to argue about this $70 billion, which is important — that’s a lot of money,’ he said. 

According to Johnson, the achieved Republican concessions involve $10 billion in extra cuts to IRS mandatory funding (totaling $20 billion) and a $6.1 billion reduction from the Biden administration’s ongoing COVID-related funds.

Johnson said the new agreement would see some additional cuts to discretionary spending to offset the deal.

However, a potential confrontation is approaching. Johnson has emphasized his desire to include conservative policy additions in the ultimate spending agreement.

Opening up the next legislative session Monday afternoon, Sen. Majority Leader Chuck Schumer, D-N.Y., said on the floor that ‘both parties reached this agreement without resorting to the painful and draconian cuts that the hard right, particularly those in the Freedom Caucus clamored for.’

‘And make no mistake, Democrats have made clear to Speaker Johnson that we will not support the inclusion of any poison pills in any of the 12 appropriation bills before the Congress,’ he said.

Fox News’ Elizabeth Elkind contributed to this report. 

This post appeared first on FOX NEWS
0
FacebookTwitterGoogle +Pinterest
previous post
How to watch Fox News’ town hall with Nikki Haley
next post
House Republican to file impeachment articles against Lloyd Austin

You may also like

I had 4 abortions. The abortion pill was...

January 8, 2024

Supreme Court to decide whether cities can ban...

January 13, 2024

King Of Late Night: Gutfeld Beats All Of...

October 29, 2022

White House drops COVID-19 rule that those around...

March 5, 2024

“Our Economy is Strong as Hell” – Joe...

October 16, 2022

Newt Gingrich: Democrats won’t rest until Trump is...

January 12, 2024

Musk offers ‘another chance’ to respond to productivity...

February 25, 2025

Lawmakers react to debt ceiling deal reached between...

May 29, 2023

What are the Odds? The Mysterious Blood Moon...

November 8, 2022

Ohio lawmaker arrested on domestic violence charge

July 12, 2023

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • TSA tells Americans their Costco cards won’t fly at airport security despite love for hot dogs

      June 7, 2025
    • Trump announces China will restart rare earth mineral shipments to US after productive call

      June 7, 2025
    • Musk feud presents ‘unprecedented’ dynamic compared to past Trump disputes: expert

      June 7, 2025
    • Snub of Musk’s NASA nominee ally preceded sudden ‘big, beautiful bill’ criticism, Trump feud

      June 6, 2025
    • Supreme Court rules DOGE can access Social Security information

      June 6, 2025
    • US sanctions money laundering network aiding Iran as regime faces nuclear reprimand at IAEA

      June 6, 2025

    Categories

    • Business (8,149)
    • Investing (2,019)
    • Politics (15,558)
    • Stocks (3,134)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved