There was an article that described three Republican Senators as traitors who voted with the Democrats forcing the Vice President to break a 50/50 vote tie over Trump's Big Beautiful Bill.
I don't think traitor is appropriate for all three. Tom Tillis, Susan Collins, and Ron Paul. Ron Paul has been consistent in his position forever so that's not an act of treason. Susan Collins and Tom Tellis fall in that category in my view. Collins positions have been at best strange over the years, and Thom Tillis clearly has issues. The only thing that's really surprises me is Murkowski didn't join them, which would have sent the bill crashing to the floor.
- Senate Dems, RINO Susan Collins Reject BBB Amendment Cutting Medicaid for Illegal Aliens
- BBB Update: 44 Democrats Vote to Allow Criminal Illegals on Medicaid
But here we are, and the bill passed. Now it has to go back to the House, where all tax bills must originate. So, what do we have in this complex, nearly 900-page bill involving taxes, energy, and healthcare?
There's a $5 trillion debt ceiling increase in the package, and the price tag will most likely cause the national debt to surge to another four trillion dollars, with an accounting gimmick to hide much of that red ink.
Medicaid will be increased. Government support for EVs and solar companies are set to be eliminated as tax credits phase out, and we're heading back to sanity on so-called "fossil fuels". Alternative energy, net zero, and global warming schemes have wasted trillions of dollars, and that's going to be brought to a screeching halt. Trump just boosted support for Republicans in coal producing states saying, "We're doing coal!" It warms my heart in watching the the global warming movement collapsing, and I like to believe I played a small part in exposing their corruption.
The one size fits all rule preventing states from passing regulations regarding AI has been ditched. That will not be an issue that will go away, and in fact, by the next budget it's my view it will be a major issue. AI is still mostly an unknown factor, and research has shown there are dangerous implication with AI, including lying to protect itself. All that needs to be challenged and fought over in the states in order to find our way, and not controlled by a bunch of bureaucrats in Washington.
There will be increased funding for border control, and will make the tax cuts of 2017 permanent with the highest rate remaining at 37%. Trump’s tax cuts spurred economic growth. Big Beautiful Bill will do it again.
That was followed by a number of tax changes, some small, such as no taxes of tips and Social Security, but some very impactful for business. The bill will "reinstate credits for corporations for things like property depreciation, capital investments, new factory construction, interest expenses, and research and development costs" in an effort to stimulate growth.
There will also be a tax credit of "$1,700 tax credit for individuals who contribute to nonprofit organizations that offer scholarships to elementary and secondary students, a move supporters describe as advancing “school choice,” akin to voucher programs" which the Democrats opposed entirely.
Then there's the $40,000 SALT deduction, which is a bone of contention as that is in effect forcing small population states with sound economic practices to subsidize large population states with radical spending practices, like California and New York. And the sale of public lands has been ditched, which I think is insane, along with the reasoning behind it, and work requirements non-disabled adults without dependents...but there are caveats in that also. I see that as an unending bone of contention as there are too many caveats.
Planned Parenthood, "which received $792 million in government grants and reimbursements" will no longer get the American taxpayer to fund the murder of the innocent unborn, and gender transitions will not be covered in Medicaid. Some funding for food stamps will be transferred to the states,
If you subscribe to the Wall Street Journal, I don't, here's their take on the BBB. Tax cuts and Medicaid spending reductions head to House, with the July 4 deadline reachable –
Then there's this econ-babble from Real Clear Markets: Deficit Hawks Should Look In the Mirror. That's why I have economists. As for being a deficit hawk, I would fall into that category. Would I have voted for this bill? In my heart the answer would be a resounding no as I believe the national debt is toxic to the point of national suicide.
However, in my mind I would recognize this Republican "controlled" Congress isn't a Republican controlled Congress and don't have all that much control over what's passed and what's not since the "loyal opposition" is in point of fact the "disloyal opposition" that votes in lock step fighting tooth and nail to disrupt any reductions in taxes and spending, doing all it can to destroy the only thing standing between freedom and socialist tyranny in the world, the American Constitution.
So, in my mind I would have to rationalize voting for it in order to get what was worthwhile passed, and then prepare for the next budget battle, and embrace an incrementalist mentality. The left believes in incrementalism, one step at a time to reach their goals, and conservatives in the Congress are forced to implement that same strategy.
But time is running out.
The world's nations, including the U.S., have a debt load of almost 310 trillion dollars, and much of that cannot be repaid. The consequences for that are soon to be felt, including Europe and China. We're looking at a worldwide economic crisis that will be, at least in my opinion, massively destructive to much of the world's population, and the structure of many nations.
Now... back to the House, and that's going to be another screaming match. As for the Fourth of July deadline.... that's not a matter of law, it's a line in the sand drawn by the President, and it seems likely it's going to be crossed.
Here's more give and take on the economy and this bill, especially this post by Ned Barnett - BBB: Congressional Democrats Turn On Blue-Collar Workers and Retirees
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