• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Economy House GOP leaders eye Democrats for help on $80 billion tax bill as Republicans defect
Economy

House GOP leaders eye Democrats for help on $80 billion tax bill as Republicans defect

by January 27, 2024
by January 27, 2024 0 comment
Share
0
FacebookTwitterPinterestWhatsapp
Join Fox News for access to this content
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.

EXCLUSIVE: Lawmakers’ frustrations over Congress’ new tax bill are forcing House GOP leaders to rely on Democrat votes to get it over the line next week, sources said.

House leadership released details for the bipartisan agreement from House and Senate negotiators earlier this week, which includes tax deductions to bolster American businesses as well as a temporary extension of the Child Tax Credit (CTC). 

Three sources told Fox News Digital that they understand the bill will get a vote on the House floor next week. Normally, legislation will advance through the Rules Committee first and then get a procedural ‘rule’ vote on the House floor, almost always along party lines, before needing a simple majority to pass.

But the sources told Fox News Digital that Speaker Mike Johnson, R-La., and Ways & Means Chairman Jason Smith, R-Mo., aim to push it straight to the House floor under ‘suspension of the rules,’ bypassing procedural steps in exchange for raising the threshold for passage to two-thirds. 

Republican hardliners weaponized the rule vote several times this session to bring down legislation by their own party in protest of House GOP leaders’ decisions. Johnson holds just a thin majority of 219 Republicans to 213 Democrats, so raising the threshold for passage of the bill, which is expected to be bipartisan anyway, means he’ll need at least 75 Democrats on board if the House is in full attendance.

‘From everything I can understand, the issue is that Freedom Caucus folks are going to essentially bring down any of the rules that we have in the near future, as long as the immigration situation is hanging out there, and the budget situation is hanging out there,’ a senior GOP aide said. 

The Freedom Caucus has previously held up the House floor over disagreements on government funding and border policy, issues that are still very much under discussion.

It’s not just them, however – Republicans who represent the politically fickle suburbs outside major cities in New York, California and elsewhere are frustrated that the tax bill does not touch state and local tax (SALT) deductions. 

Rep. Mike Garcia, R-Calif., who was part of a Thursday night meeting with Johnson and other Republicans concerned about the issue, said that lifting the $10,000 SALT deduction cap was critical to middle-class families. He also argued that it would be critical to deciding who holds the House next year.

‘The bill is not necessarily a bad bill. . . . I just think it’s asinine to not take advantage of this opportunity to address an issue that matters in districts that will determine who has the majority in the next Congress,’ Garcia said before the meeting.

Meanwhile, top members of the ultra-conservative Freedom Caucus told Fox News Digital that hardliners have their separate issues with the bill, namely arguing that the CTC can be claimed by illegal immigrants who have children in the United States.

‘The overall brand that the GOP right now is funding wars and tax cuts for corporations. I’m sorry. I was sent here to cut spending and to secure the border,’ Rep. Chip Roy, R-Texas, said.

‘Some of the tax policies I firmly support, but we should be making tax policy permanent, not these, like, temporary little additions. I think that’s a problem. And importantly, the child tax credits . . . going to children of people here illegally, and there not being real brakes on that possibility.’

Former Freedom Caucus Chairman Scott Perry, R-Pa., was blunter in his assessment: ‘I can’t imagine why we’re doing it, or why we’re attempting to do it. And it’s not improving a lot of the lives of the people that I represent, and so I’m very discouraged by it.’

He said that allowing the CTC to go to illegal immigrants ‘is absolutely something that should be a red line for every single Republican,’ and bypassing the rules to put the bill on the floor next week ‘should be a signal to everybody that you’re heading in the wrong direction.’

Chairman Smith pushed back against those accusations in a statement to Fox News Digital: ‘The Child Tax Credit reforms in this bill are pro-family policies that maintain the child tax credit structure of the Trump-era GOP tax reform. It halts any push for monthly checks and provides no special loopholes for illegal immigrants. In fact, the plan still requires a Social Security number for children, which was added in the 2017 GOP tax reform.’

‘The Child Tax Credit provisions in this bill help families crushed by inflation, removes the penalty for families with multiple children, and maintains work requirements,’ he said.

Garcia, who admitted he was still hopeful that something could be done on SALT deductions, confirmed that he had pressed Smith about the issue at another GOP lawmaker meeting last week. He pointed out the deduction caps were still expiring either way in 2025.

‘We can address this right now, on our terms, get a win out of it politically,’ Garcia said. ‘Or we can do nothing, lose potentially a lot of races because we passed this opportunity to address SALT, which is very important to New York and California, and then try to have a conversation about the new policies when . . . we’ve lost the majority because we passed this opportunity to help the swing district members get a win on the SALT cap.’ 

The bill was always likely to pass with bipartisan support, sailing out of committee on a 40-3 vote. But putting it up under suspension emphasizes the politically precarious position Johnson finds himself in while presiding over a razor-thin majority in one of the most divided GOP conferences in modern history.

Fox News Digital reached out to Johnson’s office for comment, as well as the offices of Majority Leader Steve Scalise, R-La., and Majority Whip Tom Emmer, R-Minn., but did not immediately hear back.

This post appeared first on FOX NEWS
You Might Also Like
  • Adani Group Shares Recover as CFO Denies U.S. Bribery
  • A doctor gave me pills for a nightmarish abortion. The FDA betrayed women by letting that happen 
  • GOP congressman, 80 pastors sing ‘Amazing Grace’ in Capitol Rotunda
  • Texas Gov Abbott swipes Biden in latest war of words over border security, impending DOJ lawsuit
Share
0
FacebookTwitterPinterestWhatsapp

previous post
Trump opposes plan to pressure RNC into making him the GOP’s ‘presumptive nominee’
next post
Biden admin cuts funding to controversial UN agency amid allegations members assisted in Hamas massacre

You may also like

Trump campaign rips Politico for ‘harebrained assertion’ that China prefers...

April 5, 2024

Ramaswamy demands Tennessee governor, FBI release Nashville school shooter’s manifesto:...

August 3, 2023

Garland says special counsel probing Biden classified records has submitted...

February 8, 2024

Wisconsin bail amendment headed to ballot box in April

January 19, 2023

AUDUSD and AUDNZD: New Targets and Prices for Monday

October 7, 2024

Kentucky Gov. Beshear makes another appeal for education spending

January 31, 2023

Chinese military orders US plane away from its airspace, flies...

February 26, 2023

Biden keeping Space Command in Colorado, rejecting Trump’s push to...

August 1, 2023

Trump: Biden ‘doesn’t understand what he’s doing’ during ‘most dangerous...

July 24, 2023

White House: Biden asserted executive privilege over Hur recordings at...

May 17, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


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

    Recent Posts

    • Week Ahead: NIFTY Stays In A Defined Range; Moving Past This Level Crucial For Resumption Of Upmove

      May 31, 2025
    • Breakouts, Momentum & Moving Averages: 10 Must-See Stock Charts Right Now

      May 31, 2025
    • Leadership Rotation Could Confirm Corrective Phase

      May 30, 2025
    • Run Your Stock Portfolio Like a Pro Sports Team

      May 30, 2025
    • U.S. foreign tax bill sends jitters across Wall Street

      May 30, 2025

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,765 views
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,472 views
    • 3

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 2,451 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,432 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,308 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,106)
    • Investing (538)
    • Stock (2,582)

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 3

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • Week Ahead: NIFTY Stays In A Defined Range; Moving Past...

      May 31, 2025
    • Breakouts, Momentum & Moving Averages: 10 Must-See Stock Charts Right...

      May 31, 2025
    • Leadership Rotation Could Confirm Corrective Phase

      May 30, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,106)
    • Investing (538)
    • Stock (2,582)

    Disclaimer: RoundTableThoughts.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 © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    House Oversight Democrat quietly meeting with...

    December 12, 2023

    Texas House delivers articles of impeachment...

    May 30, 2023

    Biden keeping Space Command in Colorado,...

    August 1, 2023
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here