The Trader Harbor
  • Business
  • Politics
  • World News
  • Stocks
  • Business
  • Politics
  • World News
  • Stocks

The Trader Harbor

Politics

Kevin McCarthy’s ghost is haunting House GOPs’ next big legislative fight

by admin May 27, 2024
May 27, 2024
Kevin McCarthy’s ghost is haunting House GOPs’ next big legislative fight

He has been out of Congress for nearly half a year, but the shadow of former House Speaker Kevin McCarthy, R-Calif., is still looming large over the House of Representatives as lawmakers get ready for another intense government funding fight.

Last year, McCarthy agreed to suspend the U.S. debt limit through January 2025 in exchange for federal spending caps for the next two fiscal years, a deal he struck with President Biden called the Fiscal Responsibility Act. Under its terms, discretionary government funding can only grow by 1% in fiscal year 2025.

House appropriators are now wrestling with how to navigate that cap without severely impacting Homeland Security and Defense spending. Fiscal conservatives want negotiators to stick to the statutory cap, which is roughly $1.606 trillion. Defense hawks, meanwhile, are concerned about the effects of a meager increase and worry it could amount to a spending cut on national security when accounting for inflation.

‘That was a deal that McCarthy made, right? He’s not here anymore. But our hands might still, legally, be tied to it,’ one GOP lawmaker told Fox News Digital. 

‘I understand what the intent of the FRA was, but… the caps as written prevent us from effectively keeping pace with China. So, whatever is needed between leadership, the Senate and the president to allow us a little more maneuvering space in terms of the allocations between the federal agencies and the 12 bills, I think is necessary.’

Republican Study Committee Chairman Kevin Hern, R-Okla., conceded that ‘sure’ the caps constrained negotiators but urged them to work toward it as written.

‘Honestly, I’m having a difficult time figuring out why it’s so hard for us to establish the numbers. I mean, it was agreed to a two-year cap. You know, $1.606 trillion is the number, but it’s like everybody’s struggling to figure out what it really is,’ Hern said.

He noted that fiscal year 2024’s government funding level was ‘a little bit higher’ than the agreed-upon $1.59 trillion, thanks to ‘some sidebar deals that all of us found out about afterwards.’

‘But this cap is $1.606, and with no backroom cigar smoke-filled room deals. So we’ll see where my colleague Congressman Cole comes up with the appropriations,’ Hern said.

When asked about whether he felt constrained by the FRA, House Appropriations Committee Chairman Tom Cole, R-Okla., told Fox News Digital, ‘I mean, that’s the law, so we’re going to mark it up to what the law tells us to mark up to.’

Rep. Jake Ellzey, R-Texas, a member of the Appropriations Committee, similarly said, ‘We’re doing the best we can, it’s the law of the land. So you do what you can with what you’ve got — if frogs had wings, they’d be a lot more successful on not hitting their rear end when they jump.’

He also suggested that there would be certain hurdles brought by the FRA. ‘Based on the FRA, most of those bills are going to take a shave except for Defense and Homeland. And of course, even with the increase for those two, it’s a net decrease because of inflation, so real dollars are still getting cut no matter which spending bill you’re talking about,’ Ellzey said.

‘Chairman Cole has already made some good, hard, strategic decisions…so we’ve got some clear pictures of where we’re going, and we’re going to be far more aggressive on getting those bills done on time this year.’

Indeed, House GOP leaders are eyeing an ambitious schedule to get all 12 individual spending bills that fund the U.S. government passed well before the Sept. 30 deadline at the end of the fiscal year.

Majority Leader Steve Scalise, R-La., outlined a legislative calendar that would have them passed before Congress embarks on a monthlong August recess during a closed-door House GOP conference meeting earlier this week, a source familiar with his comments told Fox News Digital.

Last year’s government funding fight was marked by chaos and disagreements within the House GOP as members on the right of the conference pushed leaders to leverage a government shutdown in exchange for deeper spending cuts, while other Republicans sounded the alarm on the economic and political ramifications a shutdown would have.

The fight over funding the government in fiscal year 2024 was among the factors that led to McCarthy’s historic ouster last October.

Fox News Digital reached out to a representative for the former speaker for comment.

This post appeared first on FOX NEWS

0
FacebookTwitterGoogle +Pinterest
previous post
Presidential candidate Jill Stein slams DNC for posting, deleting ‘Third Party Project Manager’ job
next post
Disgraced EcoHealth Alliance reaped nearly $100M in taxpayer funds since 2008

Related Posts

House Weaponization panel releases 17,000-page report exposing ‘two-tiered...

December 21, 2024

Who was Yahya Sinwar? The Israeli prisoner turned...

October 18, 2024

Highlights from President-elect Donald Trump’s 1st Inauguration Day;...

January 18, 2025

Trump endorses House Republican who failed to vote...

May 26, 2025

Who’s a good boy? JD Vance’s family pooch...

August 17, 2024

Trump’s goodwill tested as Putin ignores peace efforts...

April 26, 2025

Russia threatens strikes on British military installations, plans...

May 7, 2024

Judge temporarily blocks Trump order ending collective bargaining...

April 26, 2025

Russian official says Moscow has ‘no intention’ of...

June 25, 2025

Israeli forces seize documents that reveal Hamas plan...

October 15, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


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

    Latest

    • OpenAI to release web browser in challenge to Google Chrome

      July 11, 2025
    • Sports executive charged with bid-rigging in Texas arena project

      July 11, 2025
    • White House accuses Powell of mismanaging Federal Reserve, citing headquarters renovation

      July 11, 2025
    • Italian chocolate giant Ferrero to buy Kellogg’s Froot Loops maker

      July 11, 2025
    • How I Triple My Returns With 3x Leveraged ETFs!

      July 11, 2025
    • How to Find Compelling Charts in Every Sector

      July 11, 2025

    Categories

    • Business (1,291)
    • Politics (3,959)
    • Stocks (1,506)
    • Uncategorized (45)
    • World News (1,284)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: TheTraderHarbor, 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 © 2025 thetraderharbor.com | All Rights Reserved