Politics: Deal or No Deal? Pelosi Rejects White House Spending Cuts as Budget Negotiations Continue - PressFrom - US
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PoliticsDeal or No Deal? Pelosi Rejects White House Spending Cuts as Budget Negotiations Continue

02:00  20 july  2019
02:00  20 july  2019 Source:   msn.com

Pelosi rejects short-term debt ceiling hike as budget talks extend

Pelosi rejects short-term debt ceiling hike as budget talks extend Her move comes as she continues talks on a broader budget deal with Treasury Secretary Steven Mnuchin. require(["medianetNativeAdOnArticle"], function (medianetNativeAdOnArticle) { medianetNativeAdOnArticle.getMedianetNativeAds(true); }); After days of hashing out their positions over the phone, Pelosi (D-Calif.) and Mnuchin spoke again Monday night, with plans to talk on Tuesday, according to a Pelosi aide.

(Bloomberg) -- The White House late Thursday sent House Speaker Nancy Pelosi a proposed list of spending cuts to give her options for a budget agreement that she wants to include in a deal to raise the debt ceiling, according to two people familiar with the proposal.The Trump administration is giving.

The White House remain divided over 0 billion in spending cuts the administration wants to accompany spending hikes, "a goal that Behind the scenes, the more important differences may not be those between Pelosi and Mnuchin but between Mnuchin and White House acting chief of staff

Deal or No Deal? Pelosi Rejects White House Spending Cuts as Budget Negotiations Continue© REUTERS/Edgard Garrido

U.S. House Minority Leader Nancy Pelosi (D-CA) takes part in a news conference after a meeting with representatives from the Chambers Senators and Deputies of Mexico, in Mexico City, Mexico, May 2, 2016.

House Speaker Nancy Pelosi (D-CA) and Treasury Secretary Steven Mnuchin have put a positive spin on negotiations over the two-year budget deal that would raise the debt ceiling, with the speaker earlier this week sketching a timeline in which the agreement was completed this week and voted on next week, just before the House begins its six-week August recess.

There are signs, however, that the negotiations still face serious hurdles.

Pelosi, Mnuchin Speak Again on Debt Limit as Time Runs Short

Pelosi, Mnuchin Speak Again on Debt Limit as Time Runs Short House Speaker Nancy Pelosi said she sees “forward motion” after yet more talks with Treasury Secretary Steven Mnuchin to negotiate higher spending levels in a budget deal that congressional leaders want to attach to a bill raising the debt limit before Congress’s August recess. “We have a clear idea of what we want to agree to and that’s progress,” Pelosi said Tuesday evening. She spoke with Mnuchin twice during the day. Recent phone calls between Pelosi and Mnuchin have focused on whether a broader budget deal will be possible before the House is scheduled to leave July 26 for a six-week recess.

(Bloomberg) -- The White House late Thursday sent House Speaker Nancy Pelosi a proposed list of spending cuts to give her options for a budget agreement that she wants to include in a deal to raise the debt ceiling, according to two people familiar with the proposal.The Trump administration is giving.

With the clock ticking toward a potential debt default, federal budget negotiators are maneuvering to isolate Mick Mulvaney, left, the acting White House chief of staff, and Steven Mnuchin, the Treasury secretary Mr. Mulvaney made his name in the House as an ardent opponent of federal spending

Late Thursday, the Trump administration presented Democratic negotiators with a list of spending cuts worth roughly $1.1 trillion, as part of a White House effort to secure $150 billion in savings over 10 years. The list includes:

  • $516 billion in potential savings from extending 2021 spending levels through 2023. This option is reportedly favored by the Republican Study Committee, a large block of conservatives in the House.
  • $574 billion in possible cuts spread across 30 different spending areas, with the largest being an administration proposal to overhaul drug pricing for savings of $115 billion.
  • No cuts to defense spending.
  • No revenue or tax increases.

A Democratic source told Politico that the proposed cuts are not being embraced on their side: “This is the White House’s starting point for negotiations on this aspect. They understand these levels are nonstarters for us. Talks will continue.”

Debt Limit Deal Hinges on Pelosi Review of Spending Cut Options

Debt Limit Deal Hinges on Pelosi Review of Spending Cut Options The White House late Thursday sent House Speaker Nancy Pelosi a proposed list of spending cuts to give her options for a budget agreement that she wants to include in a deal to raise the debt ceiling, according to two people familiar with the proposal. require(["medianetNativeAdOnArticle"], function (medianetNativeAdOnArticle) { medianetNativeAdOnArticle.getMedianetNativeAds(true); }); The Trump administration is giving Democrats a menu of savings equaling at least $574 billion to offset the costs of a two-year budget cap agreement.

Previous negotiations toward a budget deal had included White House conservatives like Acting Chief of Staff Mick Mulvaney. But Mnuchin is taking the lead for the administration in the talks with Pelosi , as the speaker doesn’t have a productive relationship with Mulvaney.

Pelosi and Mnuchin are talking, but not inking deal yet. Considering the toxicity of broader relations between House Democrats and the administration, the apparently Per The Post’s Erica Werner and Damian Paletta, Pelosi and the White House remain divided over 0 billion in spending cuts the

About those cuts: The $150 billion in cuts are considerably larger than the $38 billion in net offsets agreed to in the 2018 budget deal, Roll Call’s Jennifer Shutt noted. But that agreement included $103 billion in total offsets, Shutt said, perhaps putting the administration's demand in the ballpark, or at least close to it.

CNN’s Phil Mattingly said a more realistic goal for offsets is in the $40 billion to $60 billion range.

Budget hawks chime in: The Committee for a Responsible Federal Budget said the 2018 budget deal, which is still in effect, added $420 billion to the debt over 10 years, and if spending continues at those levels, that tally comes to $2 trillion.

Marc Goldwein of CRFB backed the White House’s proposed spending cuts. “$150 billion is 0.3 percent of the budget. If Congress cant cut or find revenue to pay for that much, were in big trouble,” he tweeted Friday.

Calling for any budget deal to be paid for, CRFB said earlier this week: “President Trump last year said in response to a $1.3 trillion omnibus bill that enacted the last spending increase: ‘I will never sign another bill like this again.’ He should enforce this mantra and insist Congress bring responsible budget process back to our nation’s finances, not more debt binging cloaked as bipartisanship that we can’t afford."

Budget talks between White House, Pelosi spill into weekend

Budget talks between White House, Pelosi spill into weekend Negotiations between the Trump administration and Speaker Nancy Pelosi (D-Calif.) on a two-year budget and debt ceiling deal are spilling over into the weekend amid growing signs of alarm from conservatives. The talks are down to discussions over the amount of cuts, or offsets, that will be included to help pay for the agreement to increase total defense and nondefense spending over the next two years. The administration is pushing for at least $150 billion in cuts to be included in the agreement. The White House reportedly sent a list of $574 billion in potential cuts to congressional leaders.

(Bloomberg) -- The White House late Thursday sent House Speaker Nancy Pelosi a proposed list of spending cuts to give her options for a budget agreement that she wants to include in a deal to raise the debt ceiling, according to two people familiar with the proposal.The Trump administration is giving.

The White House late Thursday is planning to send House Speaker Nancy Pelosi a proposed list of spending cuts it says can be used to seal a debt ceiling The Trump administration is proposing 4 billion in savings options it suggests using to offset the costs of a two-year budget cap agreement that

A sacred thing? Despite Pelosi’s broad rejection of the White House proposal for spending cuts, President Trump said Friday the negotiations were in “good shape.” Describing the debt ceiling as a “sacred element of our country,” Trump said, “I can’t imagine anybody ever even thinking of using the debt ceiling as a negotiating wedge.”

The Mulvaney factor: The proposed cuts reportedly reflect the views of Trump’s acting chief of staff Mick Mulvaney, a fiscal hawk who used the debt ceiling as a political wedge during the Obama administration. The success of the negotiations may depend on how hard Mulvaney pushes his demands for substantial spending cuts.

"My worry here is if Mulvaney tries to be too hard on the offset side that we wouldn't be able to come to an agreement," Sen. Chuck Schumer (D-NY) told CNN Thursday. "I hope he will let Mnuchin and us come to the agreement and I think we can get it quite soon."

What’s next: CNN’s Phil Mattingly captured the tension in the talks Friday: “Negotiators are on the brink of a deal. Now comes the hard part.” A Trump administration official told Bloomberg News that negotiations are expected to continue over the weekend and into next week.

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Conservatives balk at proposed debt limit, budget deal.
House Republicans won’t vote for a proposed bipartisan deal to suspend the nation’s borrowing limit until 2021 and raise spending caps by $320 billion over two years, a top GOP lawmaker said Monday. require(["medianetNativeAdOnArticle"], function (medianetNativeAdOnArticle) { medianetNativeAdOnArticle.getMedianetNativeAds(true); }); “I have communicated consistently there will be a large number of conservatives in the House who will not be able to vote for the deal, if these are indeed the terms,” Rep. Mike Johnson, R-La.

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