Fox Business host Larry Kudlow shares his opinion on the congressional spending bill debate and what it means for the incoming GOP majority on ‘Kudlow’.
A lesson for the GOP: Simplify, simplify, simplify — and that’s the point of contention.
The most important thing I’ve seen this year ends congress expense drama And the difficulty in getting consent – that tells us about the difficulty of a multiple reconciliation bill next year.
So far, the House has failed twice to reach a compromise to avoid a government shutdown.
And avoiding a government shutdown is desirable – not in economic terms, but in political terms, as this could potentially give Senator Chuck Schumer additional power through the certification of the presidential election on January 6 and even the inauguration on January 20. .
The Schumer Democrats are diabolical, and you never know what will happen if you leave them in charge – even for a few more weeks.
Now, a third continuing settlement deal has been struck by House Republicans, and awaits President Trump’s approval.
Kevin O’Leary reveals government shutdown solution to Congress’ ‘classic, bad Christmas movie’
This will look a lot like the short-term deal that fell through last night. It would postpone the debt ceiling until March 14, and reportedly cut federal spending by about $2.5 trillion during reconciliation bills scheduled next year.
But as anyone can clearly see, this relatively simple process of raising funding for a few weeks has been very difficult, very controversial, and very unpredictable.
And I believe this is a prime indicator of the potential problems the GOP may face next year if they continue to recklessly believe that they can actually pass multiple reconciliation bills in 2025. They must be kidding themselves.
Recent polling by McLaughlin & Associates shows that nearly half of all voters think we are in a recession, and more than four-fifths continue to worry about inflation.
Thirty-five percent of voters say it is most important for Trump to secure the border — and right behind, 26% say it is to continue growth by making the Trump tax cuts permanent. The overall economy is still the #1 issue, far ahead of the curve.
And Trump tax cuts 2.0 Are wildly popular – 82% favor eliminating federal taxes on Social Security income, 71% favor eliminating federal taxes on tips for service workers, 64% favor eliminating federal taxes on overtime pay for workers. 70% are in favor of making it, and 70% are in favor of Trump making it in 2017. The tax cut is permanent.
Former World Bank President David Malpass joins ‘Mornings with Maria’ to discuss the government spending bill deadline and how it could impact President-elect Donald Trump’s agenda.
At this time, Mr. Trump and his transition team are very popular. His approval rating is well above 50%. He is enjoying an almost unprecedented honeymoon after the elections.
But coming back to the legislative strategy, it will be very important, Mr. Trump’s policy The mandate from the elections – and I think Republicans who think it will be easy to pass multiple reconciliation bills are badly mistaken.
The parliamentary confusion within Republican ranks over the past few days, centered on what should be a relatively simple exercise, is a stark warning sign of things getting overly complicated next year.
Delaying the tax cut would be a big mistake. Delay in tax cut will not bring extra money into the hands of working people. Delaying the tax cuts won’t fatten blue-collar pockets. These are the people who voted for Mr Trump in battleground states and gave him huge majorities.
Get Fox Business by clicking here
The GOP has winning issues – like closing the border; cut taxes; And drill, baby, drill; and reduction in regulatory status. Bundle them all up, and get it done as quickly as possible.
And be realistic about the almost insurmountable problems that multiple large reconciliation bills would create.
a close source President Trump Says he wants a big, beautiful bill. As always, he is right.
This article is adapted from Larry Kudlow’s opening remarks on the December 20, 2024 edition of “Kudlow”.
