The deal will impose new work requirements on benefits recipients while protecting the spiraling pentagon budget.
The deal must now get through Congress, a difficult task given likely opposition from progressive lawmakers who oppose attacks on aid programs and Republicans who want steeper cuts.reported, “Lawmakers in the House Freedom Caucus were privately pillorying the deal on Saturday night, and the Congressional Progressive Caucus had already begun to fume about it even before negotiators finalized the agreement.
Amy Hanauer, executive director of the Institute on Taxation and Economic Policy, said Sunday that “it’s a relief to see that congressional leaders and the president have come to an agreement to raise the debt limit and avert an economic disaster.” “But by instituting work requirements for critical assistance programs and rescinding important funding to crack down on wealthy tax cheats, this deal will rig the economy even more in favor of the most well-off Americans while failing to fix the real structural problems that led to the current debt crisis in the first place,” said Hanauer. “The deal avoids the elephant in the room: it includes no new revenues even though tax cuts of the past few decades were a primary driver of deficit growth.
“And next up, many Republican lawmakers want to double down on tax cuts by pushing through many more tax cuts that would most help wealthy families and corporations,” Hanauer added. “They should do the opposite.”We needed to raise $50,000 in new donations this month to protect Truthout’s honest, fearless journalism, but we’ve fallen dangerously behind and are at real risk of not making it.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
GOP ethics plan targets Biden White House staffers for student loan debt disclosureEXCLUSIVE — House Republicans will unveil Friday legislation to force senior White House employees to further disclose their student loan debt as the government debates President Joe Biden's pending debt forgiveness plan.
Weiterlesen »
Debt limit deadline won’t stop Biden, GOP lawmakers from enjoying the holiday weekendTime is running out for President Biden and Republican lawmakers to strike a deal to raise the debt limit before a June 1 deadline when the U.S. won't be able to pay all its bills, likely triggering an economic quake.
Weiterlesen »
Biden, McCarthy speak on debt crisis, one GOP negotiator says ‘thorny issues’ remainBoth sides raced to strike an agreement that would resolve the looming debt crisis ahead of a June 5 deadline and avert a catastrophic U.S. default.
Weiterlesen »
Biden GOP agree to 2 year budget-debt ceiling deal, work requirements for food aidPresident Joe Biden and House Speaker Kevin McCarthy have reached an “agreement in principle” to resolve the looming debt crisis.
Weiterlesen »
Biden GOP agree to 2 year budget-debt ceiling deal, work requirements for food aidPresident Joe Biden and House Speaker Kevin McCarthy have reached an “agreement in principle” to resolve the looming debt crisis.
Weiterlesen »
Biden, GOP reach debt ceiling deal with 2-year agreement work requirementsPresident Joe Biden and House Speaker Kevin McCarthy have reached an “agreement in principle” to resolve the looming debt crisis. McCarthy outlined the proposed deal Saturday night. Bid…
Weiterlesen »