Sightful Invest
  • Business
  • Investing
  • Politics
  • Stock
Top Posts
Vance says India-Pakistan conflict ‘none of our business’...
Trump pushes tax hikes for wealthy as ‘big,...
Trump’s tax hike proposal is ‘déjà vu’ of...
Pope Francis-era deal with Chinese Communist Party again...
Trump says 80% tariff on China ‘seems right’...
Massachusetts suspect charged with attempting to assassinate a...
Pakistan says it has struck military targets inside...
Mexico sues Google for changing ‘Gulf of Mexico’...
Denmark PM says ‘you cannot spy against an...
Trump inks trade deal with UK, previews China...
  • Business
  • Investing
  • Politics
  • Stock

Sightful Invest

Politics

DOGE stimulus checks: Johnson side-steps question on Trump plan, says US has ‘giant deficit’

by admin February 21, 2025
February 21, 2025
DOGE stimulus checks: Johnson side-steps question on Trump plan, says US has ‘giant deficit’

Speaker Mike Johnson, R-La., signaled he was not a fan of a proposal to send Americans stimulus checks with the money saved by the Department of Government Efficiency (DOGE), and that he believed the funding was better directed toward the national debt.

‘Well, look, I mean, politically, that would be great for us, you know, because that gives everybody a check,’ Johnson said during a Q&A session at the Conservative Political Action Conference (CPAC) on Thursday.

‘But if you think about our core principles, right, fiscal responsibility is what we do as conservatives. That’s our brand. And we have a $36 trillion federal debt.’

Johnson added there was a ‘giant deficit’ — which is over $838 billion for fiscal year 2025 so far, according to the Bipartisan Policy Center — the U.S. was grappling with as well.

‘I think we need to pay down the credit card. That’s what I think we need to do,’ Johnson said.

It comes after President Donald Trump said he was considering giving 20% of DOGE-led savings back to U.S. taxpayers during a speech on Wednesday at the FII Priority Summit in Miami.

Billionaire Elon Musk, who is leading DOGE, said Tuesday on X that he would ‘check with the president’ about the proposal after it was first floated by Azoria investment firm CEO James Fishback.

DOGE’s stated goal under Musk is to cut federal spending by $2 trillion.

During his sit-down remarks with Newsmax on Thursday, Johnson also warned that Americans could see the ‘largest tax increase in U.S. history’ if Trump’s 2017 Tax Cuts and Jobs Act (TCJA) was not extended before measures expired at the end of this year.

Congressional Republicans are currently trying to use their majorities to extend Trump’s tax cuts and pass his priorities on defense and the border via a massive bill using the budget reconciliation process.

Under reconciliation, both the Senate and House operate under simple majorities, allowing the party in power to pass a massive budget bill without help from the opposition. Normally, the Senate’s threshold for passage is two-thirds.

‘We’re going to take a blowtorch to the regulatory state, get the bureaucracy back in check — lots of details, lots of subcategories under all that. But it’s going to be a big, beautiful bill. And it has to be by necessity, because that gives us the highest probability of success. Remember that I have a small margin in the House,’ Johnson said. ‘I have one vote for much of this.’

Extending Trump’s tax cuts alone is expected to cost upwards of $4.5 trillion.

This post appeared first on FOX NEWS

previous post
Trump’s frustrations with Zelenskyy escalate as US turns up pressure on Ukraine to reach peace deal
next post
Hawley calls for watchdog over Ukraine aid after Democrats blocked previous effort

You may also like

JFK’s daughter says cousin RFK Jr is a...

January 29, 2025

Biden undermines Harris claim that Ron DeSantis is...

October 10, 2024

Mine, Baby, Mine: US needs to dig deep...

January 15, 2025

Trump 100% disagrees with federal judge’s ‘crazy’ ruling...

February 10, 2025

Accusations of Biden admin ‘interference’ in transgender surgery...

August 28, 2024

Biden admin held private talks with Beijing on...

April 9, 2025

First on Fox: Top outside group backing Senate...

October 15, 2024

Democrat lawmaker freezes on House floor after suffering...

February 11, 2025

White House website praises lifetime Supreme Court appointments...

July 30, 2024

White House pressed on Biden refusing to speak...

December 21, 2024

Recent Posts

  • Vance says India-Pakistan conflict ‘none of our business’ as Trump offers US help
  • Trump pushes tax hikes for wealthy as ‘big, beautiful bill’ deadline looms
  • Trump’s tax hike proposal is ‘déjà vu’ of George H. W. Bush’s ‘read my lips’ moment, experts say
  • Pope Francis-era deal with Chinese Communist Party again under scrutiny as Pope Leo takes the reins
  • Trump says 80% tariff on China ‘seems right’ ahead of weekend talks with Beijing

    Become a VIP member by signing up for our newsletter. Enjoy exclusive content, early access to sales, and special offers just for you! As a VIP, you'll receive personalized updates, loyalty rewards, and invitations to private events. Elevate your experience and join our exclusive community today!


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Categories

    • Business (713)
    • Investing (2,064)
    • Politics (2,563)
    • Stock (4)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: sightfulinvest.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 © 2024 Sightful Invest. All Rights Reserved.