Thirty-two House Republicans are warning leadership they won't vote for the massive budget reconciliation bill if it doesn't include at least $2 trillion in verifiable savings either through spending reductions or scaling back the size of the tax package, reports Politico.
"Under the House's framework, the reconciliation bill must not add to the deficit," the lawmakers, led by Budget Committee Vice Chair Lloyd Smucker, R-Pa., wrote in a new letter to Speaker Mike Johnson, R-La., and House Majority Leader Steve Scalise, R-La.
"A $2 trillion reduction in spending may sound substantial. However, it equals only 2.3% of projected federal outlays over the next decade and only reduces the rate of growth in spending," they added.
"Even with those savings, annual spending is expected to grow from $7 trillion to $10 trillion over the next 10 years, and debt will exceed $50 trillion by 2035. The House reconciliation instructions are binding. They set a floor for savings, not a ceiling. We must hold that line on fiscal discipline to put the country back on a sustainable path."
The legislation, aimed at advancing President Donald Trump's policies on tax, defense, immigration, border security, energy and the debt limit, aims to expand the GOP's 2017 Tax Cuts and Jobs Act.
It would also eliminate taxes on tips, overtime and Social Security payments. Republicans are looking to piece together a bill they aim to enact by July 4.
Solange Reyner ✉
Solange Reyner is a writer and editor for Newsmax. She has more than 15 years in the journalism industry reporting and covering news, sports and politics.
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