What's in the GOP Debt Limit Spending Reductions

[jon-nyc]

The House was on track to vote on the legislation as early as Wednesday evening, though the outcome promised to be a cliffhanger given lingering concerns among some Republicans and the party’s slim majority.

But...but...but what about 72 hours to read the bill before they vote on it? Have they abandoned that pledge already?

[Mik]

[Jolly]

@Mik said in What's in the GOP Debt Limit Spending Reductions:

Amen.

[Mik]

The bill was introduced on the 20th anyway.

[jon-nyc]

@Mik I don't know if they moved the goalposts so much as were just performing in January when they made the promise. McCarthy has enough legislative experience to know what the pressures would be to do otherwise.

[jon-nyc]

@Mik said in What's in the GOP Debt Limit Spending Reductions:

The bill was introduced on the 20th anyway.

And modified all night.

[Mik]

Six days ago. Try something else.

[Jolly]

Much of what is in McCarthy's bill has been discussed in the MSM. If it's in the MSM, I suspect that most members of Congress have a pretty good inkling of the major points.

[Jolly]

And besides, when did Ax steal Jon's log-in info?

[Axtremus]

@Mik said in What's in the GOP Debt Limit Spending Reductions:

Six days ago. Try something else.

Substantial changes were made to the bill in the early AM mere hours before the vote. See https://www.nbcnews.com/politics/congress/house-republicans-eye-wednesday-vote-debt-limit-bill-making-changes-rcna81326

Despite winning concessions, Gaetz voiced frustration that changes were made in the dead of night and just hours before lawmakers were set to vote. Republicans often fumed at then-Speaker Nancy Pelosi and the Democrats for bypassing regular order and making changes to big legislation in the middle of the night.
“I never get mad,” Gaetz said, “but it has a practical consequence when at 2 in the morning changes are made and we’re asked to vote in the subsequent several hours.”

You can trust Rep. Gaetz, right?

[jon-nyc]

@Mik said in What's in the GOP Debt Limit Spending Reductions:

Six days ago. Try something else.

The entire idea behind "72 hours" is post final amendments. No substantive bill actually goes from introduction to passage in less time, that's not the origin of the complaint. Even the ACA - 'pass it so we can see what's in it' - spent many months from introduction to passage.

Leadership hates it because more time gives opposition more time to mobilize. The promise was empty back in January, just like the previous congresses when they've said the same thing.

[Mik]

Who was it that said 'You have to pass it to see what's in it?".

No, the 72 hour thing is open to interpretation. Would you care to address what's actually in the bill?

[jon-nyc]

Pelosi.

[jon-nyc]

@Mik said in What's in the GOP Debt Limit Spending Reductions:

Would you care to address what's actually in the bill?

Give me 72 hours to read it. j/k

I'm indifferent to supportive of most of the specific cuts, though I don't know the details behind the renewables/fossil fuels stuff. The two things I don't like are (1) capping spending ongoing without saying how they'd do it, that's always been a cowardly cop out, and (2) they're only agreeing to release the hostage for a year.

[Axtremus]

https://www.moodysanalytics.com/-/media/article/2023/debt-limit-drama.pdf

Moody's Analytics on the House GOP proposal, staring from the bottom paragraph on page 2. Page 6 and one talks about the macroeconomic impact.

[taiwan_girl]

@Axtremus said in What's in the GOP Debt Limit Spending Reductions:

https://www.moodysanalytics.com/-/media/article/2023/debt-limit-drama.pdf

Page 6 and one talks about the macroeconomic impact.

That may be what the Republicans want. If their proposal is passed, and the economy reacts as per the paper, then they can blame the bad economy on the Democrats in time for the new elections.