Connect with us

Congress

Senate Banking forges ahead with potentially problematic budget package

Published

on

Senate Banking Chair Tim Scott (R-S.C.) on Friday released his panel’s contribution to the GOP’s megabill, despite concerns from his own members that several provisions won’t be allowed under Senate rules.

The committee’s text for its “one big beautiful bill” contributions includes zeroing out Consumer Financial Protection Bureau funding from the Federal Reserve, Fed pay scale changes and a rescission of funds from the Inflation Reduction Act’s green housing initiatives. The bill would also sweep unused money from an SEC fund that allows the agency to spend money on technology modernization and eliminate the fund permanently. It would also dissolve the U.S.’s top audit regulator, the Public Company Accounting Oversight Board, and fold it into the SEC.

The panel is required to find $1 billion in cuts over the next 10 years under a budget resolution adopted by both chambers of Congress. House Financial Services’ version released last month was determined by the Congressional Budget Office to decrease deficits by $5.2 billion.

The Senate’s version goes further than the House with steeper cuts to CFPB funding.

The text remains almost identical to proposals the committee laid out in a memo earlier this week. But after GOP committee members met Thursday to discuss the legislation, a number of lawmakers raised questions about whether it can comply with the strict rules governing the filibuster-skirting budget reconciliation process, which allows only measures that are aimed at changing spending or revenues.

“I’d love to have [CFPB funding] be zeroed out, but I think we all know that that would be a policy issue as much as a budget issue,” Sen. Mike Rounds (R-S.D.), a senior member of the Banking Committee, said Thursday. “While we’d like to see that happen, we understand the parliamentarian may have a disagreement on that.”

Jasper Goodman contributed to this report.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Congress

Planned Parenthood funding at grave risk after Senate ruling

Published

on

Republicans are on the cusp of a breakthrough in their long effort to strip federal funding from Planned Parenthood after a Senate ruling Monday.

Senate Parliamentarian Elizabeth MacDonough advised lawmakers that a provision that would cut off Medicaid funding for one year to the women’s health organization and abortion provider can remain in the GOP’s domestic policy megabill without threatening its ability to be passed along party lines, according to Senate Democrats.

The megabill is expected to clear the Senate Monday or Tuesday using a budgetary tool to bypass a 60-vote filibuster. Bills advanced with that tool must adhere to strict budget rules, and the parliamentarian is the de facto arbiter of those rules. Senate Democrats had challenged whether the provision was allowed.

“Republicans will stop at nothing in their crusade to take control of women’s bodies,” said Democratic Sens. Ron Wyden and Jeff Merkley of Oregon in a statement.

Conservative lawmakers have sought to strip Planned Parenthood’s eligibility for federal funds for decades. It has long been subject to the Hyde amendment, which bans federal funding directly on abortions, but the organization bills Medicaid for nonabortion services and receives other federal funding through other programs and grants.

Republicans sought to target the group in their party-line 2017 push to repeal the Affordable Care Act, but the overall effort collapsed.

Continue Reading

Congress

Anxious House Republicans scramble to forestall Senate’s Medicaid cuts

Published

on

Dozens of House Republicans are scrambling behind the scenes to head off the deep Medicaid cuts in the Senate version of the party-line megabill that could pass as soon as tonight.

Group texts are blowing up and frantic phone calls are being exchanged among GOP lawmakers alarmed about the Senate Medicaid provisions, according to six House Republicans granted anonymity to describe the conversations. Even some conservatives in states that will be hit hard by the Senate’s crackdown on state-directed payments and medical provider taxes don’t want to vote on the Senate’s Medicaid text.

That’s to say nothing of an effort pushed by Sen. Rick Scott (R-Fla.) to scale back federal payments under the Affordable Care Act’s Medicaid expansion — a well-established red line for many House members.

Speaker Mike Johnson is expected to hold a call with House Republicans Monday afternoon, according to two other people granted anonymity to discuss yet-to-be-announced plans. Senate and House leadership staffers huddled Monday to discuss the outstanding concerns.

Senior House Republicans are warning they still might need to hammer out differences between the two chambers if the Senate doesn’t strike a final compromise on the language and add it in a final amendment before sending the bill to the House. That would mean missing President Donald Trump’s arbitrary July 4 deadline for signing the megabill.

It’s still unclear whether the Senate will relent and allow a compromise on Medicaid or other policy issues in a final amendment. That chamber is dealing with its own politics, including the determination of many GOP senators to swell the size of the tax-cut package, prompting the need for sharper Medicaid cuts.

Thune has been noncommittal in closed-door meetings with GOP senators about whether there will be a final “wraparound” that would incorporate House Republicans’ concerns. Senate leaders are betting the House will accept whatever the Senate sends them.

“Right now, there isn’t a need for it,” said one GOP senator granted anonymity to discuss the situation.

Continue Reading

Congress

Fetterman tells reporters ‘I just want to go home’ as megabill votes drag on

Published

on

While most Senate Democrats are looking for pieces to chip away from the GOP megabill in the ongoing vote-a-rama, Sen. John Fetterman just wants the process over with already.

“Oh my God, I just want to go home,” the Pennsylvania Democrat told reporters on Monday. “I’ve already missed our entire trip to the beach… I’m going to vote no. There’s no drama.”

GOP leaders expect rapid-fire amendments to roll in until at least late Monday evening. With a swath of unresolved issues — from potential cuts to the Medicaid provider tax to the phasing out of clean-energy credits — the process could easily extend into the night.

But Fetterman doesn’t think there will be surprises out of tonight’s votes.

“The only interesting votes are going to be on the margin, whether that’s [Susan] Collins or [Ron] Johnson and those,” he said. “All the Democrats, we all know how that’s going to go. I don’t think it’s really helpful to put people here till some ungodly hour.”

Fetterman later posted on X that he’s “here to vote on these amendments and keep the ball rolling” and reiterated his stance against cutting Medicaid and SNAP.

Fetterman has increasingly been a thorn in Democrats’ side as they ramp up opposition to the Trump administration and its policies. Fetterman has been adamant, for example, about not supporting a war powers resolution introduced by Sen. Tim Kaine (D-Va.) that would limit the president’s ability to take military action on Iran without congressional approval. Trump on Friday called Fetterman “the most sensible” Democratic senator and suggested he should support the megabill.

Fetterman’s impatience with the vote-a-rama is just his latest break with his own party.

“This bill is the biggest transfer of wealth from the working class to the 1% and Fetterman’s message to voters is that he just wants to go home,” Joe Calvello, Fetterman’s former communications director postedon X.

Continue Reading

Trending