įirst Republican publicly supports ousting McCarthy as Speaker McCarthy says he’ll move contempt charges against FBI director if subpoena. ‘No’ votes: These House Republicans say they will vote against debt ceiling. Gaetz: Passing debt deal without Republican majority would ‘likely trigger an. McConnell to face off with conservative opponents on debt ceiling billĪmazon workers planning walkout at Seattle headquartersįox’s Brit Hume runs to McEnany’s defense: Trump attack ‘immature’ Trump slams his former press secretary Kayleigh McEnany Utah Republican announces resignation from CongressĬhick-fil-A’s DEI leader sparks calls for boycott Special counsel subpoenas Trump White House staffers over Krebs firing: reportĭemocrats put potential headache of passing debt ceiling rule on McCarthy Trump pledges to end birthright citizenship on first day in office This material may not be published, broadcast, rewritten, or redistributed.ĭebt ceiling live updates: McCarthy faces more ‘no’ votes “This bill is a craptacular mess that will grow the deficit and lead to a million more annual IRS audits.” TagsĬopyright 2023 Nexstar Media Inc. “The economists at the nonpartisan Congressional Budget Office just issued a warning to House Democrats,” Sen. Republicans, who oppose the bill, attacked Democrats over the CBO estimate. “The combination of CBO’s scores over the last week, the Joint Committee on Taxation estimates, and Treasury analysis, make it clear that Build Back Better is fully paid for, and in fact will reduce our nation’s debt over time by generating more than $2 trillion through reforms that ask the wealthiest Americans and large corporations to pay their fair share,” she said. Treasury Secretary Janet Yellen said in a statement Thursday that the bill is fully paid for when looking at multiple analyses. The CBO score set off a debate over whether the bill is paid for. The Treasury Department has estimated that the IRS funding provision would raise significantly more revenue than the budget office estimated, and some moderates have expressed support for Treasury’s larger estimate. Moderates are expected to be satisfied by the CBO’s estimate. However, that number does not take into account $207 billion in revenue that the CBO estimates would be raised by providing the IRS with more money for enforcement.Ī group of House moderates had sought information about the bill’s cost prior to a vote on the legislation, which advances Biden’s economic agenda and includes spending and tax cuts in areas such as health care, climate and education. The nonpartisan budget scorekeeper said that the massive bill put forward to advance President Biden’s agenda would increase the deficit by $367 billion over 10 years. The Congressional Budget Office (CBO) on Thursday released its full cost estimate of the Build Back Better Act, House Democrats’ social spending package, hours before lawmakers were expected to vote on the bill.
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