The Senate Budget Committee just paved the way for America to sink another $1.5 trillion into the hole. They did it for political reasons so they could pass tax reform through the budget reconciliation process, thereby avoiding a nasty filibuster from Democrats.
Democrats are against anything done by Republicans, even if they’d have done the exact same thing. See, the 2018 budget resolution doesn’t sink, it floats. That’s because fat floats to the top, and this budget is loaded with Grade-A 100 percent pork fat.
The lack of spending discipline, or even adherence to existing budget laws and spending caps is simply breathtaking.
Senate Republicans unveiled a fiscal 2018 budget resolution Friday that they intend to use to push through as much as $1.5 trillion of tax cuts in the coming months, but it won’t allow the GOP to pursue a full repeal of Obamacare.
The budget, authored by Senate Budget Chairman Mike Enzi, forecasts a balance in nine years through $5 trillion in largely unspecified spending cuts. Unlike the House budget proposed in July, Enzi’s blueprint doesn’t call for cuts to Medicaid or a partial privatization of Medicare.
The 89-page draft resolution would allow the Senate Finance and House Ways and Means Committees to increase the deficit by $1.5 trillion during the next decade in order to advance a tax overhaul bill, and sends instructions to the Senate Energy and Natural Resources and House Natural Resources Committees to reduce the deficit by $1 billion during the 10-year budget window, seen as a vehicle potentially to open up a portion of Alaska’s Arctic National Wildlife Refuge to oil and gas exploration. The House and Senate committees are supposed to turn in their recommendations to the Budget committees by Nov. 13.
Senate Republicans are looking to quickly to pass a budget so they can move directly to tax reform, and hope to mark up a budget resolution next week and then pass the resolution the week after that, Sen. Pat Toomey, R-Pa., said Wednesday.
“I really hope we get this done this year before the end of the year, get this signed into law,” he said. “We’re going to have a budget mark-up next week, and so if a budget comes out of committee, that’ll be a big important milestone.”
“It’s a great talking point when you have an administration that’s Democrat-led,” said Representative Mark Walker, Republican of North Carolina and the chairman of the Republican Study Committee, a group of about 150 conservative House members. “It’s a little different now that Republicans have both houses and the administration.”
Let's just pause and note that the Senate budget resolution is an explicit call for tax cuts that add $1.5 trillion to the deficit pic.twitter.com/tH1duqachy
— Jacob Leibenluft (@jleibenluft) September 29, 2017
Senate FY18 budget resolution doesn't include reconciliation instructions for HELP, meaning ACA repeal waits
— Mary Ellen McIntire (@MelMcIntire) September 29, 2017
— Leader McConnell (@senatemajldr) September 29, 2017
Buried in this story: GOP’s 2018 budget doesn’t authorize full ACA repeal, but DOES still allow a “skinny repeal”. https://t.co/kF1EJms8zQ
— Matthew Chapman (@fawfulfan) September 29, 2017
— Rebecca Vallas (@rebeccavallas) September 29, 2017
The Senate's 2018 budget adds $1.5 trillion to the deficit and cuts $450 billion from Medicare. Republicans don't care about the deficit.
— Bradley Organa (@storybookclimax) September 29, 2017
Senate budget would enact just $1 billion in spending cuts (0.002% of total spending) & $1.5 trillion in borrowing. How do you explain that?
— Maya MacGuineas (@MayaMacGuineas) September 29, 2017
Senate Budget Committee unveils FY 2018 budget resolution – but there are still some key details to be filled in pic.twitter.com/UZsDL66HAv
— Jamie Dupree (@jamiedupree) September 29, 2017
I believe that by the time tax reform hits the full Senate, it will be so watered down that very little will be accomplished other than monkeying with child credits, standard deductions, and the lowest tax bracket. The end result will sock the middle class in the gut, while leaving most of the exotic deductions and loopholes used by the rich, and exemptions for the poor, intact. Instead of reforming tax or making it less complex, it will actually make things more complex as families try to figure out their tax bill.
Meanwhile, every penny of that $1.5 trillion in extra spending will be used. Pigs at the trough are never satiated.