Trump's big bill advances in rare weekend vote, but conservatives demand more changes

[Dulcinea]

WASHINGTON (AP) — House Republicans narrowly advanced President Donald Trump’s big tax cuts package out of a key committee during a rare Sunday night vote, but just barely, as conservative holdouts are demanding quicker cuts to Medicaid and green energy programs before giving their full support.

Speaker Mike Johnson met with Republican lawmakers shortly before the meeting and acknowledged to reporters that there are still details to “iron out.” He said some changes were being made, but declined to provide details.

It’s all setting up a difficult week ahead for the GOP leadership racing toward a Memorial Day deadline, a week away, to pass the package from the House. The Budget Committee, which just days ago failed to advance the package when four conservative Republicans objected, was able to do so Sunday on a vote of 17-16, with the four hold-outs voting “present” to allow it to move ahead, as talks continue.

https://apnews.com/article/republicans-tax-cuts-house-trump-johnson-border-f03b7e9cc3015ef9a0ece37b76bc5f66

[LymphocyteLover]

1. they are screwed no matter what. If they pass their cuts, there will be a fierce backlash

if they don't pass the bill, they will look even more ridiculous and worthless than they already and trump will look even worse and more stupid.

[LetMyPeopleVote]

2. Adding $5 Trillion to the debt has the credit markets worried

In 2011, the GOP was responsible for a U.S. credit rating downgrade. In 2023, it happened again. And in 2025, Republicans are again to blame.

Why the latest downgrade of the U.S. credit rating is an embarrassment for Republicans - MSNBC

apple.news/AJEUHJcLzQhO...

— (@oc88.bsky.social) 2025-05-19T14:00:03.209Z

Link to tweet

https://www.msnbc.com/rachel-maddow-show/maddowblog/latest-downgrade-us-credit-rating-embarrassment-republicans-rcna207652

There is still one other ratings agency, however, that hadn’t downgraded the nation’s credit rating — at least, that is, until last week. NBC News reported:

Moody’s Ratings cut the United States’ sovereign credit rating down a notch to Aa1 from the Aaa, the highest possible, citing the growing burden of financing the federal government’s budget deficit and the rising cost of rolling over existing debt amid high interest rates.

In terms of the practical economic impact, neither the 2011 nor the 2023 downgrades did meaningful harm, though as NBC News’ report added, the decision from Moody’s might end up lifting the yield that investors demand in order to buy U.S. Treasury debt and could dampen sentiment toward owning U.S. assets. Time will tell.

But in terms of the political impact, Donald Trump’s White House tried to blame Biden for the developments — a go-to move for this administration — despite the fact that deficits exploded during Trump’s first term and were far smaller under Biden.

Even more interesting, however, was the reaction from House Speaker Mike Johnson. The New York Times noted:

In his appearance on ‘Fox News Sunday,’ Speaker Mike Johnson tried to spin Moody’s recent downgrading of U.S. credit worthiness away from House Republicans’ multi-trillion-dollar spending package and recast it as a product of ‘the Biden spending spree.’ He argued that the inferior credit rating was evidence that ‘emphasizes the very need for the legislation we’re talking about.’

.....This need not be complicated. Moody’s downgraded the United States because of the country’s national debt and fiscal future. The GOP’s reconciliation bill, filled with massive tax breaks, would add nearly $3 trillion to projected budget deficits over the next decade. (As for the idea that there was a “Biden spending spree,” now seems like a good time to remind everyone that government spending has gone up, not down, since Donald Trump returned to power.)

In other words, the fiscal problem that led to the downgrade would get worse because of the Republican’s megabill, which is the opposite of the line GOP leaders have brought to the public.