Connect with us

Hi, what are you looking for?

Daily Planning Capabilities – Investing and Stock NewsDaily Planning Capabilities – Investing and Stock News

Latest News

GOP leaders still giving conflicting guidance on reconciliation plans

Congressional Republicans are still waiting on more guidance from Donald Trump on their complex legislative priorities, as the incoming president is set to meet with senators on Wednesday.

On the House side: Speaker Mike Johnson pressed his disparate House Republican conference in a closed-door meeting Wednesday morning to stay united, as the party has struggled to get on the same page regarding how to pass GOP priorities including the border, energy and tax cuts.

In the meeting, Johnson didn’t delve into the details of his one-track reconciliation strategy, according to four Republicans in the room who were granted anonymity to discuss the private meeting. Johnson is still trying to hammer out those plans with Senate Majority Leader John Thune — who is pushing for two separate packages.

“We still remain convinced over here that the one-bill strategy is the best way to go. But there are some senators who have a different view,” Johnson told reporters Tuesday morning.

On Trump, Johnson added: “I think the president still prefers one big beautiful bill.”

Johnson’s urging for unity Tuesday morning comes as some House GOP hardliners are planning to raise the benefits of a two-track process in meetings with Trump at Mar-a-Lago later this week, according to two Republicans familiar with the matter who were granted anonymity to candidly discuss it. Some conservatives are wary of one massive legislative package, and are privately raising concerns about quickly tackling the border as a top priority.

House GOP leaders also warned their conference Tuesday morning that the budget reconciliation process — which is new to a wide swath of younger members — is a major undertaking and will require an aggressive House schedule.

On the Senate side: Thune has resisted emphasizing his prior preference for a two-track plan that would separate taxes, allowing lawmakers to pass priorities on the border sooner. But he’s not embracing the one-track plan either, saying he wants to hear from Trump.

“It would be good to get his assessment and kind of the lay of the land and what his priorities are early on,” Thune said in a brief interview.

The two Republican leaders aren’t outright fighting, saying they just need to work out a strategy but are united on the underlying policies. But the one- vs. two-bill plan is critical to passing any GOP priorities, and how quickly Johnson and Thune can come to a decision will have major ramifications for the outlook for Trump’s sweeping agenda. A massive bill means it could collapse under its own weight, given the vast ideological differences within the party, but going with two pieces of legislation could risk failing to pass anything on taxes at all.

Other issues: No matter how many bills Republicans pursue, House hardliners are demanding “transparency” around the process — suspicious of leaders who have a tendency of working out major pieces of legislation in private meetings.

Some House Republicans, including senior members, are expressing private concerns that Trump may “embolden” Freedom Caucus rebels by holding court with them at Mar-a-Lago this Friday night.

A wide array of Republicans are also leery of Trump holding so many one-on-one meetings this weekend with several key House GOP factions — who are all pushing their own strategies and agendas — given Trump’s tendency to agree with people he’s spoken with most recently. That could cause more problems for the ongoing strategy disagreements between House and Senate Republicans over the way forward, as precious legislative days tick by.

“There is a pattern there, isn’t there?” said one House GOP lawmaker.

Jordain Carney contributed to this report.

Enter Your Information Below To Receive Latest News, And Articles.

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like

    Investing

    Introduction To The Long Put Strategy Options are used by investors to take advantage of a wide range of projections on the state of the...

    Investing

    Introduction Options can provide investors with an extremely versatile tool that can be used to bet on market direction or changes in volatility levels....

    Investing

    In both cases a (usually near the money) option is sold and used to partially fund the purchase of two (or more) out of...

    Investing

    What’s the Difference Between SPX and SPY Options? Dividends Dividends are not normally paid to options holders. However, SPY pays a dividend every quarter. This is...

    Disclaimer: Dailyplanningcapabilities.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2023 Dailyplanningcapabilities.com