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senate budget committee
House GOP Advances Budget After Blocking Amendments to Protect Food Benefits, Medicaid
"Instead of choosing to protect the American people, they chose to protect billionaires and corporations," said the top Democrat on the House Budget Committee.
Feb 14, 2025
House Republicans advanced their budget plan out of committee Thursday night after a 12-hour markup session during which they rejected dozens of Democratic amendments, including proposed changes that would have protected Medicaid and federal nutrition benefits from the deep cuts the GOP hopes to impose to help finance trillions of dollars in tax breaks for the richest Americans.
The House Budget Committee advanced the Republican resolution, unveiled earlier this week, in a 21-16 vote along party lines. Prior to the vote, GOP members agreed to adopt an amendment offered by Rep. Lloyd Smucker (R-Pa.) that, according toPolitico, effectively caps "the cost of the tax cuts at $4 trillion, with a dollar-for-dollar increase in that ceiling if Republicans cut more spending, up to a total of $2 trillion in cuts."
Democrats on the panel offered more than 30 amendments to the budget resolution, all of which Republicans rejected.
"Each of our amendments was a direct effort to shield the American people from the reckless cuts embedded in this proposal, cuts that will hurt the most vulnerable while giving trillions of dollars of handouts to the ultra-rich," Rep. Brendan Boyle (D-Pa.), the top Democrat on the House Budget Committee, said in his closing remarks at Thursday's hearing. "We fought to protect Medicaid and Medicare, ensuring that seniors, low-income families, children, and people with disabilities don't see their healthcare stripped away."
"We proposed amendments to maintain funding for public education, ensuring that schools remain adequately resourced and that teachers don't bear the burden of budget shortfalls," Boyle continued. "And we stood up for veterans who risked their lives for this country and deserve more than empty rhetoric. They deserve fully funded healthcare, food assistance, and the benefits they earned through their service. Yet, despite the clear benefits of these proposals, Republicans oppose all of them."
"Instead of choosing to protect the American people," he added, "they chose to protect billionaires and corporations."
"This isn't government of, by, and for the people; it's government of, by, and for billionaires."
The Republican budget blueprint calls for more than a trillion dollars in cuts to Medicaid and the Supplemental Nutrition Assistance Program (SNAP), which provide healthcare and food aid to tens of millions of low-income Americans.
"These aren't just numbers," Sharon Parrott, president of the Center on Budget and Policy Priorities, stressed in response to the House GOP resolution. "The loss of Medicaid means, for example, a parent can't get cancer treatment, and a young adult can't get insulin to control their diabetes. Cuts to food assistance mean a parent skips meals so their children can eat or an older person who lost their job has no way to buy groceries."
In addition to advancing the GOP's far-right ideological project, such cuts would partly offset the costs of Republicans' proposed tax breaks—which would disproportionately benefit the wealthiest people in the country, including the billionaires in President Donald Trump's Cabinet.
"Republicans are cutting Medicaid and SNAP to pay for tax breaks for the richest 1% of Americans," the progressive advocacy group Americans for Tax Fairness wrote in a social media post on Thursday. "They are literally taking $1.1 TRILLION away from you, and giving it to the wealthiest people in the country."
Thursday's vote marks a first step toward passage of a sprawling, filibuster-proof budget reconciliation package that will include a slew of Republican priorities.
But the House GOP must resolve its differences with Senate Republicans, who are pushing for two bills instead of one. The Senate plan, which Republicans advanced out of committee earlier this week, also calls for major cuts to Medicaid and SNAP.
"This Republican budget opens the door to massive cuts for families," Sen. Jeff Merkley (D-Ore.), ranking member of the Senate Budget Committee, said Thursday. "Democrats on the committee offered amendment after amendment to protect healthcare, housing, and education—all of the foundations working families need to thrive—and Republicans blocked every single one of them, all to later divert those cuts into massive tax breaks for the richest Americans."
"This is the Great Betrayal," Merkley added. "Trump campaigned on protecting families, but President Trump and Senate Republicans are all about protecting their billionaire friends. This isn't government of, by, and for the people; it's government of, by, and for billionaires."
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US Wealth Gap Report Fuels Call to 'Unrig Our Tax Code'
"This report should add urgency in Congress as the Trump tax scam expires next year and we negotiate future tax legislation," said Senate Budget Committee Chair Sheldon Whitehouse.
Oct 02, 2024
As a Capitol Hill battle over the "GOP tax scam" looms, U.S. Senate Budget Committee Chair Sheldon Whitehouse on Wednesday pointed to a new nonpartisan government analysis about soaring wealth inequality as proof of the need for serious reforms.
Whitehouse (D-R.I.) sought the Congressional Budget Office (CBO) report, which details trends in the distribution of family wealth—including projected Social Security retirement and disability benefits—in the United States from 1989 to 2022.
"Adjusted for inflation, the wealth held by families in the United States almost quadrupled between 1989 and 2022, rising from $52 trillion (in 2022 dollars) to $199 trillion, at an average rate of about 4% per year," the CBO found. "Over that 33-year period, family wealth was unevenly distributed, and that inequality increased."
"In 2022, families in the top 10% of the distribution held 60% of all wealth, up from 56% in 1989, and families in the top 1% of the distribution held 27%, up from 23% in 1989," the office said. "The share of wealth held by the rest of the families in the top half of the distribution shrank from 37% to 33% over the same period. Families in the bottom half of the distribution held 6% of all wealth in both 1989 and 2022."
"By making the wealthy pay their fair share, we can protect Social Security forever and unrig our tax code."
The report comes as Congress prepares for a tax debate due to next year's expiration of policies signed into law in 2017 by then-President Donald Trump, the Republican facing Democratic Vice President Kamala Harris in this November's election.
Throughout the current election cycle, Trump and congressional Republicans have campaigned on extending policies from the Tax Cuts and Jobs Act, which slashed the corporate tax rate from 35% to 21% and also benefited wealthy individuals.
"This report should add urgency in Congress as the Trump tax scam expires next year and we negotiate future tax legislation," Whitehouse said of the CBO analysis. "Do we want to reward billionaires, who have already captured so much of the nation's wealth, or do we want to de-corrupt the tax code, ensure the wealthy and big corporations pay their fair share, and reduce the deficit, all while making necessary investments to better the lives of all Americans?"
Whitehouse noted that the report also comes amid concerns about the future of Social Security. Citing the CBO analysis, his office detailed:
- Social Security is essential to the retirement security of low middle- and lower-income families: Without this earned benefits program, the bottom half of families would hold just 3% of overall wealth, while the top 10% of families would control nearly 70%.
- If Social Security were allowed to go insolvent, families in the bottom half of the wealth distribution would lose 10% of their wealth, while the wealth of the top 1% of families would be essentially unchanged.
"Social Security is a bedrock of our retirement system and ensures millions of seniors can retire with dignity," Whitehouse said. "Seniors earned their benefits throughout their working lives, but the program is now facing a looming cash flow problem. By making the wealthy pay their fair share, we can protect Social Security forever and unrig our tax code—exactly what my Medicare and Social Security Fair Share Act would do."
Whitehouse's bill is spearheaded in the lower chamber by U.S. House Budget Committee Ranking Member Brendan Boyle (D-Pa.), who also recently requested a CBO report. That one focuses on the impact of raising the full retirement age for Social Security from 67 to 69, as various Republican groups have proposed.
The CBO's Social Security analysis, released last week, found that for workers now in their 30s and 40s, the average annual benefit cut would be around $3,500 a year—and the GOP's proposed changes wouldn't even extend the program's solvency.
"This independent, nonpartisan report shows just how devastating Republican plans to rip away hard-earned Social Security benefits would be for American workers," Boyle said last week. "Instead of saving Social Security by making the ultrarich pay their fair share, the GOP is hell-bent on gutting benefits for the middle class."
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Key Senate Panel Launches Probe of Big Oil-OPEC Collusion
Illegal coordination between oil companies and OPEC may have cost U.S. families thousands of dollars in higher costs for gas and other necessities.
Jun 27, 2024
Announcing a probe into potential efforts by fossil fuel companies to illegally coordinate with international oil producers in order to fix prices, U.S. Sen. Sheldon Whitehouse on Wednesday wrote to 18 oil giants demanding that they turn over communications with the Organization of Petroleum Exporting Countries, commonly known as OPEC.
Whitehouse (D-R.I.) wrote to companies including ExxonMobil, Chevron, and ConocoPhillips in his capacity as chairman of the Senate Budget Committee, weeks after the Federal Trade Commission (FTC) accused the former CEO of Pioneer Natural Resources Company of attempting to collude with OPEC.
Text messages, WhatsApp communications, and records from in-person meetings showed that Scott Sheffield tried to collude with representatives of OPEC countries to manipulate oil and gas production worldwide and raise oil and gas prices.
The commission made its discovery while reviewing a plan by ExxonMobil to acquire Pioneer in a $64.5 billion deal.
"The FTC's findings indicate that Sheffield and Pioneer may not have been the only individual or entity engaging in such collusive activities," wrote Whitehouse to the 18 oil giants, citing numerous examples.
"We're talking $500-1000 dollars of extra cost per year to Americans through direct and indirect effects of this conspiracy."
"In view of the findings against Sheffield, I seek to understand whether other oil producers operating in the United States may also have been coordinating with OPEC and OPEC+ representatives concerning oil production output, crude oil prices, and the relationship between the production and pricing of oil products," said Whitehouse.
Whitehouse called on the companies to provide communications between and among companies' corporate and affiliate officers and members of the OPEC Secretariat and OPEC+ concerning oil production output, crude oil prices, and the relationship between the production and pricing of oil products, dating from January 1, 2020 through the present.
The companies have until July 12 to provide the materials, the senator said.
Whitehouse noted that efforts by Sheffield and, potentially, other oil executives, to illegally coordinate oil production and prices with OPEC, may have had major, tangible effects on American families. He cited an analysis by the American Economic Liberties Project which found that "crude oil price-fixing schemes may have caused over 25% of the increase in inflation that hurt so many American families throughout 2021 in the wake of the Covid-19 pandemic."
"Since the U.S. consumes 7 billion barrels of oil annually, the amount saved by shale oil drillers during their price war with OPEC was $140 billion to $210 billion a year," wrote Matt Stoller, the group's research director.
"Once that price war ended, presumably so did the savings," Stoller continued. "The cost itself is likely a lot higher because pulling shale off the market when demand spiked probably caused prices to increase by much more than $20-30 a barrel. Anyway, we're talking $500-1000 dollars of extra cost per year to Americans through direct and indirect effects of this conspiracy. This cost shows up most obviously in the form of more expensive gas, but higher oil prices increase the price of everything right down to potato chips because of gas being a primary cost in distribution of goods and services. For a family of four, that's two to four thousand dollars a year in higher costs."
Whitehouse wrote in his letter to the oil company that he was "concerned about the possibility that oil and gas companies could be engaging in collusive, anti-competitive activities with OPEC+ that would raise crude oil prices, resulting in higher costs not only for American families, but also for the U.S. government when it acquires crude oil for the Strategic Petroleum Reserve."
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