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Protect Social Security!" In 1983, when the last major Social Security reforms were enacted, there were no benefit enhancements, Larson argued. Today, annual earnings of up to $168,600 are subject to a 6.2% payroll tax toward Social Security paid by both workers and employers. Larson's plan also calls for closing loopholes that allow wealthy taxpayers to avoid paying Social Security taxes on other income. Larson said the public is well aware that Social Security benefits are theirs and they've paid for them.
Persons: Kean, Dave Kotinsky, Larson, they've, John Larson, Conn, Mark Wilson, Nancy Altman, Drew Ferguson, Ferguson, Jodey Arrington, Charles Blahous, Blahous Organizations: Getty, hasn't, Social Security, Security, Social, Capitol, Democratic, Republican, Republican House, Republicans, George Mason University Locations: Bridgewater , New Jersey, Jan, Georgia, Texas
“To me, success is impeachment from the House,” GOP Rep. Brian Mast said. Comer’s co-leads, House Judiciary Chairman Jim Jordan and House Ways and Means Chairman Jason Smith, are also fully behind the work. I don’t think that’s an impeachable offense,” GOP Rep. Jodey Arrington said. Even GOP Rep. Darrell Issa remarked after the first hour of questioning that Hunter Biden was prepared for the interview. There’s an election in seven months from now,” GOP Rep. Nick LaLota, who represents a New York district Biden won in 2020, told CNN.
Persons: James Comer, Joe Biden, , Comer, Biden, “ Comer, Jesus, Alejandro Mayorkas, Comer –, , Anna Paulina Luna –, Hunter Biden, it’s, ” Luna, , missteps, Brian Mast, Mike Johnson, Comer’s, Jim Jordan, Jason Smith, ” Johnson, Steve Scalise, Elise Stefanik, Kevin McCarthy, ” Bruce Dubinsky, McCarthy, Samuel Corum, Johnson, Jodey Arrington, Darrell Issa, , Doug LaMalfa, Mayorkas, Tony Gonzales, Austin Scott, ” Comer, Donald Trump, Jordan, doesn’t, There’s, Nick LaLota, Jamie Raskin, Raskin Organizations: Washington CNN —, Republican, CNN, Kentucky Republican, Homeland, Biden, GOP, Republicans, Getty, White, Democratic, , Department of Justice Locations: Kentucky, , Washington , DC, , Texas, New York
WASHINGTON (AP) — A bill to create a bipartisan commission that would tackle the nation’s soaring debt and make policy recommendations to Congress won approval Thursday from a House committee. Many Democrats see the commission as an attempt to force cuts to Social Security and Medicare. The commission would have 16 members: 12 from Congress, evenly divided by party, and four outside experts who would not have voting power. Republicans blame federal spending for the annual deficits while many Democrats cite tax cuts enacted under Republican administrations. Three committee Democrats voted for it, including Rep. Scott Peters, D-Calif., who worked with Rep. Bill Huizenga, R-Mich. in sponsoring the bill.
Persons: “ everything's, Joe Manchin, Mitt Romney, Jodey Arrington, , Arrington, , Brendan Boyle, Mike Johnson, Hakeem Jeffries, ” Johnson, ” Jeffries, Scott Peters, Bill Huizenga, Peters, ” Peters, Becca Balint Organizations: WASHINGTON, Republicans, Social Security, GOP, Republican, Pennsylvania, U.S . Capitol Police, Democrats, Democratic, Locations: R, Utah, Texas, New York
US House Speaker Mike Johnson, a Republican from Louisiana, during a news conference at the US Capitol in Washington, DC, US, on Wednesday, Jan. 10, 2024. Under pressure from right-wing members, House Speaker Mike Johnson, R-La., faces stark challenges in keeping the government funded and responding to a potential Senate deal that would toughen immigration laws while providing funding for Ukraine. But passing the spending deal could make it politically more difficult for Johnson to support an emerging bipartisan Senate immigration deal that the right wing of the GOP is turning against. 2 is his position, but he was careful not to reveal specifics of what the House would accept if a Senate immigration deal came together, the sources said. Johnson's allies believe GOP opponents of the spending deal may vote against it but doubt they'll come for his job.
Persons: Mike Johnson, He's, Johnson, Chuck Schumer, Chip Roy, Steve Deace, Schumer, Brian Fitzpatrick, We've, it's, Doug Heye, Heye, Sen, James Lankford of, Marjorie Taylor Greene, Greene, It's, Kevin McCarthy, Johnson's, they'll, Jodey Arrington Organizations: Republican, Ukraine, White, Congress, Republicans, GOP, Fox News, Democrats, United States Congress Locations: Louisiana, Washington , DC, Iowa, Texas, Ukraine, Russia, James Lankford of Oklahoma
Aside from McCarthy and Jordan, Republicans have also rejected their No. That plan would give more authority to Republican Representative Patrick McHenry, who is filling the speaker's chair on a temporary basis. He helped to engineer government shutdowns in 2013 and 2018 and helped to push Republican Speaker John Boehner into retirement in 2015. Jordan's vote total of 194 was less than McCarthy netted in 15 grueling rounds of voting in January. Jordan's Republican opponents declined to celebrate in the wake of his defeat.
Persons: Republican Jim Jordan's, Joe Biden's, Jordan, Kevin McCarthy, Biden, McCarthy, Steve Scalise, Lawmakers, Austin Scott, Kevin Hern, Jodey Arrington, Patrick McHenry, Jim Jordan, Jonathan Ernst, McHenry, Donald Trump, Biden's, I've, shutdowns, John Boehner, Jordan's, Scott Perry, he's, Katherine Clark, Mario Diaz, David Morgan, Katharine Jackson, Gram Slattery, Andy Sullivan, Scott Malone, Chizu Nomiyama, Nick Zieminski, Grant McCool Organizations: Republican, U.S . House, Republicans, U.S, Sunday, U.S ., House Democrats, U.S . Rep, Capitol, REUTERS, Financial Services, White, Democratic, Thomson Locations: Ukraine, Israel, Washington , U.S
I don't know if that's a newsflash for anybody here," Republican Representative Scott Perry said. Republican Representative Jodey Arrington, who has been floated as an alternative, said he was backing Jordan for now. That plan would give more authority to Republican Representative Patrick McHenry, who is filling the speaker's chair on a temporary basis. House Democrats and the White House have said they are open to the idea, but Republicans rejected it on Thursday. He helped to engineer government shutdowns in 2013 and 2018 and helped to push Republican Speaker John Boehner into retirement in 2015.
Persons: Jim Jordan, Jonathan Ernst, Republican Jim Jordan, Joe Biden's, Jordan, Biden, Donald Trump, Biden's, I've, Kevin McCarthy, McCarthy, Scott Perry, he's, Katherine Clark, Jodey Arrington, Patrick McHenry, PETTY, shutdowns, John Boehner, David Morgan, Katharine Jackson, Gram Slattery, Andy Sullivan, Scott Malone, Grant McCool, Chizu Nomiyama, Nick Zieminski Organizations: U.S . Rep, U.S, Capitol, REUTERS, Rights, Republican, U.S . House, Representatives, Democratic, House Democrats, Investors, White, Thomson Locations: Washington , U.S, Ukraine, Israel
House Republicans are set to choose a new speaker next Wednesday, and it's unclear who that will be. Some of them have apparently turned to Twitter to help their decision-making — or to make a point. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . As House Republicans try to settle on a candidate to take the reigns after Kevin McCarthy's sudden defenestration this week, some of them are polling their Twitter followers on who they'd like to see in the top job. "That said, who would you like to see as the next Speaker of the House?," wrote LaLota.
Persons: , Kevin McCarthy's, Marjorie Taylor Greene, Donald Trump, Jim Jordan of, Steve Scalise, Marjorie Taylor Greene 🇺🇸 ( Organizations: Republicans, Twitter, Republican, Service, Trump, Locations: Marjorie Taylor Greene of Georgia, Jim Jordan of Ohio, Jordan
U.S. House Speaker Kevin McCarthy (R-CA) walks back to the Speaker's office after a motion to vacate the chair of Speaker of the House and end McCarthy's continued leadership passed by a vote of 216-210, at the U.S. Capitol in Washington. On Tuesday, eight members of his party joined 208 Democrats to oust McCarthy as speaker in a 216-210 vote. But as I walk out of this chamber, I feel fortunate to have served the American people," McCarthy, 58, told reporters. "Frankly, one has to wonder whether or not the House is governable at all," Republican Representative Dusty Johnson told reporters after McCarthy's ouster. But hardliners soon used their leverage to shutter the House floor in protest over the spending level that McCarthy had agreed to Biden.
Persons: Kevin McCarthy, McCarthy's, Jonathan Ernst, Matt Gaetz, McCarthy, Gaetz, " McCarthy, Donald Trump, Joe Biden, seethed, Biden, John Boehner, Paul Ryan, Trump, Dusty Johnson, Steve Scalise, Tom Emmer, Jodey Arrington, Kevin Hern, David Morgan, Scott Malone, Stephen Coates Organizations: U.S, Capitol, REUTERS, Rights, U.S . House, California Republican, Democratic, Republican, Reuters, Republicans, Committee, Thomson Locations: Washington, California, U.S
The House voted to vacate the Office of the Speaker on Tuesday, booting Kevin McCarthy from his job. The House, under interim speaker Rep. Patrick McHenry of North Carolina, will now have to hold speaker elections once again, and it's not clear where that will lead. In 1910, House Speaker Joseph Cannon called the motion himself as he faced a mutiny from his own party, daring his own members to oust him. The Saturday measure, while supported by most House Republicans, ultimately passed with more Democratic than Republican votes. Gaetz and dozens of other House Republicans — potentially more than half — oppose sending more aid to the besieged country.
Persons: Kevin McCarthy, Matt Gaetz's, , Matt Gaetz, McCarthy, Andy Biggs, Ken Buck, Tim Burchett, Eli Crane, Bob Good, Nancy Mace, Matt Rosendale, Republicans —, Patrick McHenry of, there's, What's, Hakeem Jeffries, Angie Craig of, hasn't, Saul Loeb, it's, Joseph Cannon, Newt Gingrich, John Boehner, Gaetz, Joe Biden, could've, McCarthy hasn't, they're, Abigail Spanberger, Spanberger, Jared Golden of, Who's, Tom Emmer, Jodey Arrington, Tom Cole of Oklahoma, Andy Ogles Organizations: Democrats, Service, Republicans, Democrat, Republican, Arizona Rep, Colorado Rep, Tennessee Rep, Florida Rep, Rep, South Carolina Rep, House Republicans, Democratic, Getty, , Florida Republican, Texas Locations: Florida, Montana, Patrick McHenry of North Carolina, California's, Angie Craig of Minnesota, Ukraine, Virginia, Jared Golden of Maine, Minnesota, Tennessee
Biden’s IRS Chases Chump Change
  + stars: | 2023-08-11 | by ( Phil Gramm | Jodey Arrington | ) www.wsj.com   time to read: 1 min
Review and Outlook: During Devon Archer's testimony to the House Oversight Committee, a picture emerged of how Hunter Biden's role on the board of Burisma got mixed up with Vice-President Joe Biden's Ukraine diplomacy. Images: EFE via ZUMA Press/Reuters Composite: Mark KellyCriminals stole at least $1 trillion from taxpayers during the pandemic. To date the Biden administration has offered only lip service and modest funding to try to reclaim these funds and punish wrongdoers. Meanwhile President Biden is hiring an army of Internal Revenue Service agents to shake down Americans he claims are tax avoiders. And his commitment is concrete—$80 billion to hire 87,000 new IRS agents.
Persons: Devon Archer's, Hunter, Burisma, Joe Biden's, EFE, Mark Kelly Criminals, Biden, wrongdoers Organizations: Press, Reuters, Internal Revenue Service, IRS, Congressional Locations: Joe Biden's Ukraine
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHouse Budget Chair Rep. Arrington on Fitch downgrade: Both sides have some share of blame hereHouse Budget Committee Chair Rep. Jodey Arrington (R-Texas) joins 'Squawk Box' to discuss the fallout from Fitch's U.S. rating downgrade, what can be done about government deficits and spending, and more.
Persons: Arrington, Jodey Arrington Organizations: Fitch, U.S Locations: Texas
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHouse Budget Chair Rep. Arrington on debt ceiling negotiations: We just have to be responsibleHouse Budget Committee chairman Rep. Jodey Arrington (R-Texas) joins 'Squawk Box' to discuss the latest on debt ceiling negotiations, and whether a bipartisan deal can be reached.
Opinion | Speaker McCarthy Is Feeling the Heat
  + stars: | 2023-04-17 | by ( Michelle Cottle | ) www.nytimes.com   time to read: +2 min
Having sold his soul and torched his dignity to win his dream gig, the fledgling speaker of the House is struggling to find his groove. Even as the House gears back up after recess, Mr. McCarthy is having relationship troubles with key members of his own team. The speaker is said to have lost confidence in — and been privately dumping on — both men, The Times reported. (Mr. McCarthy has rejected that family fissures exist.) Some Capitol Hill denizens suspect Mr. McCarthy remains disgruntled about his messy speaker’s race, during which, The Times noted, Mr. Arrington reportedly floated Mr. Scalise’s name for the top job.
GOP lawmakers published over 500 bills on different areas in which they want to cut spending. It comes as Biden has been urging Republicans to put forth a concrete budget. GOP budget chair Jodey Arrington said the budget could take months, and the primary focus should be raising the debt ceiling. Republican lawmakers just made their latest move in the ongoing drama to raise the debt ceiling and cut spending. Now, Republicans have some ideas — or rather, over 500 proposed bills for limiting funding to a slew of federal government programs and agencies.
WASHINGTON—President Biden said he needs to see House Republicans’ budget proposal to start negotiations related to raising the nation’s borrowing limit. House Republicans’ response: Not going to happen. The chairman of the House Budget Committee, Texas Rep. Jodey Arrington , said in an interview that the GOP budget process could take months to play out, pushing it past the deadline for Congress to act on raising the debt ceiling and avoid a U.S. default on debt payments and other government obligations. Instead, he and other top Republicans want to start talks immediately on a shorter list of demands for this year, without a formal budget in hand.
WASHINGTON, March 23 (Reuters) - U.S. Treasury Secretary Janet Yellen reiterated on Thursday that she was prepared to take further action to ensure that Americans' bank deposits stay safe amid turmoil in the banking system. Silicon Valley Bank (SIVB.O) was taken over by federal regulators on March 10, followed days later by Signature Bank (SBNY.O). Biden said last week the banking crisis has calmed down, and promised Americans that their deposits are safe. Yellen also said supply chain pressures and shipping costs were coming down and were eventually likely to bring down inflation. Separately on the issue of the debt ceiling, the Treasury secretary said that a U.S. debt default would undermine the dollar's reserve currency status and that a failure to raise the debt ceiling would lead to a recession or worse.
WASHINGTON, March 23 (Reuters) - Republicans in the U.S. House of Representatives are working on a "term sheet" of conditions they would want Democrats to agree to in exchange for voting to raise the federal government's $31.4 trillion debt ceiling later this year, House Budget Committee Chairman Jodey Arrington said on Thursday. "If we're going to negotiate, we're going to have to have to have something on paper that gets the support of at least 218 of our members," said Arrington, whose party controls the House by a narrow 222-213 margin. Arrington said the aim is to develop a "package of reforms that will need to be bipartisan" to win the support of President Joe Biden's Democrats and pass. Failure to address the debt ceiling could lead to an unprecedented default by the federal government that would rattle the global economy and financial markets, which have been volatile following the collapse of Silicon Valley Bank and Signature Bank. Reporting by David Morgan; Editing by Scott MaloneOur Standards: The Thomson Reuters Trust Principles.
In remarks on Friday, Biden noted that Republican President Ronald Reagan had a higher corporate tax rate. "When we talk about 28% tax rate — Ronald Reagan was 28% tax rate — you know, that wacko liberal guy, the idea that that's an unreasonable amount…" Biden said during his Friday remarks. Biden has pushed for a higher corporate tax rate previously, saying that he's "sick and tired of ordinary people being fleeced" as some corporations pay nothing in income taxes. Still, even with the release of Biden's budget proposal, Republicans have yet to put forth their plan. House Budget Chair Jodey Arrington told Politico that there is "no timeline" for a GOP budget, frustrating Democrats as the US inches closer to default.
The House Freedom Caucus unveiled a plan to address the debt ceiling on Friday. It includes ending student-debt relief and recouping unspent pandemic relief funds. This is not the first time Republican lawmakers have targeted student-debt relief in a proposal to cut spending. The Caucus' plan comes just a day after Biden unveiled his budget proposal for the upcoming year, which GOP lawmakers assailed as "reckless." House Budget Chair Jodey Arrington told Politico that Republicans have "no timeline" for making that happen.
WASHINGTON, March 10 (Reuters) - The hardline U.S. House Freedom Caucus responded to President Joe Biden's $6.8 trillion budget proposal on Friday, with a list of demands including a near freeze on discretionary spending and an end to multiple programs, in exchange for raising the debt ceiling. House Freedom Caucus Chairman Scott Perry said the plan would mean a $131 billion spending cut for fiscal 2024, which begins on Oct. 1, and save $3 trillion over a decade. "America will not default on our debts unless President Biden chooses to do so," Perry told reporters at a news conference. "To ensure America does not default on our debts, the House Freedom Caucus is offering a responsible solution." "To president Biden: your budget is dead on arrival," said Representative Byron Donalds, a House Freedom Caucus member.
Reaction to Biden's 2024 budget proposal
  + stars: | 2023-03-09 | by ( Katharine Jackson | ) www.reuters.com   time to read: +3 min
REUTERS/Leah MillisWASHINGTON, March 9 (Reuters) - U.S. President Joe Biden on Thursday delivered a budget proposal that includes a robust spending agenda, higher taxes on the wealthy and plans to reduce the deficit, a document that forms the blueprint for his expected 2024 re-election bid. Here is reaction to Biden's budget proposal to Congress for the 2024 fiscal year:HOUSE BUDGET COMMITTEE CHAIR JODEY ARRINGTON, A REPUBLICAN FROM TEXAS:"His policies have led to 40-year record inflation, soaring interest rates, and the prospect of a sustained economic recession. Unfortunately, Biden’s latest budget is more of the same bloated bureaucracy at the expense of working families, while sticking our grandchildren with the bill." HOUSE DEMOCRATIC LEADER HAKEEM JEFFRIES, ON TWITTER:"The Biden budget plan protects Social Security, strengthens Medicare and invests in our children. SENATOR CHUCK GRASSLEY:"Even with near-record revenues, President Biden wants to raise taxes on every segment of America.
President Joe Biden released his budget on Thursday, vowing to cut $3 trillion from the federal deficit over the next decade, in part, by levying a 25% minimum tax on the wealthiest Americans. "It does this in part by reforming our tax code to reward work, not wealth, including by ensuring that no billionaire pays a lower tax rate than a teacher or firefighter and by quadrupling the tax rate on corporate stock buybacks," Young said. In addition to social spending, the budget includes robust defense funding. House Budget Chairman Jodey Arrington told CNN on Wednesday the GOP budget should be ready by the second week in May. Preempting Republican concerns, Rouse stressed the ways the Biden White House has repeatedly bucked economic expectations.
WASHINGTON, March 8 (Reuters) - U.S. House Republicans plan to focus on the federal government's $31.4 trillion debt in a closed-door meeting on Wednesday, the day before President Joe Biden unveils a 2024 spending plan the White House says will help limit the debt's growth. The emergence of the two budgets are seen as the starting gun for negotiations between House Speaker Kevin McCarthy and Biden over spending for fiscal 2024, which begins Sept. 1. The stakes of those talks are elevated this year as the federal government is expected to hit the $31.4 trillion debt ceiling by summer. McCarthy wants Biden to agree to spending cuts before his narrow Republican House majority would agree to raise the debt ceiling. Biden insists that Republicans must agree to a "clean" debt ceiling increase without a preliminary deal on spending.
Those spending cuts, according to Reuters, are modeled off budget proposals from Trump's former budget chief. Some Republicans are reportedly taking inspiration from former President Donald Trump's budget chief Russell Vought. Rep. Jodey Arrington, the chair of the House Budget Committee, told Reuters that the GOP is crafting a budget that is "consistent with what's in his budget." Broadly, nondefense spending will be in the crosshairs, and Vought told Reuters that $25 billion would be cut from "woke" policies at the Department of Education. "Of course, these spending cuts will result in significant savings for the taxpayers."
Republican House Speaker Kevin McCarthy has vowed not to allow an increase in the $31.4 trillion legal limit on federal borrowing without an agreement from President Joe Biden's Democrats in Congress to rein in federal spending. Failing to lift the debt ceiling could trigger a default on the federal government's debt that would take a heavy toll on the American and probably world economies. Vought, whose plan also calls for $150 billion in cuts, said Democratic control of the Senate makes limited austerity more politically realistic. Another Budget Committee Republican, Freedom Caucus member Ralph Norman, described in general terms a debt-ceiling playbook, backed by other conservatives, that aligned with Vought's plan. McCarthy spokesman Mark Bednar said federal spending growth was "entirely unsustainable, and House Republicans were elected to bring it to an end."
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