Rich People Trades
  • Business
  • World News
  • Politics
  • Investing
  • Business
  • World News
  • Politics
  • Investing

Rich People Trades

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
RUA GOLD Closes C$5.75 Million Brokered Offering Including the Full Exercise of Over-Allotment Option
next post
Elon Musk makes surprise appearance at CPAC

Related Posts

Elon Musk strategizes $1 trillion spending cuts with...

March 6, 2025

Trump vows to increase trade with India, Pakistan...

May 11, 2025

Over-regulation partly to blame for ‘wildly expensive’ research...

February 15, 2025

DOGE slashes billions more in expenses for programs...

March 27, 2025

Trump AG nominee Pam Bondi advances to final...

February 4, 2025

Gabbard moves presidential daily intelligence brief staff from...

May 15, 2025

Scientists expect major ‘medical breakthroughs’ despite Trump’s cap...

February 12, 2025

Trump-aligned group sues Chief Justice John Roberts in...

May 6, 2025

Remains of Shiri Bibas, mom of two killed,...

February 22, 2025

Trump admin guts AmeriCorps, Clinton-era volunteer agency that...

April 18, 2025

Elon Musk strategizes $1 trillion spending cuts with...

March 6, 2025

Trump vows to increase trade with India, Pakistan...

May 11, 2025

Over-regulation partly to blame for ‘wildly expensive’ research...

February 15, 2025

DOGE slashes billions more in expenses for programs...

March 27, 2025

Trump AG nominee Pam Bondi advances to final...

February 4, 2025

Gabbard moves presidential daily intelligence brief staff from...

May 15, 2025

Scientists expect major ‘medical breakthroughs’ despite Trump’s cap...

February 12, 2025

Trump-aligned group sues Chief Justice John Roberts in...

May 6, 2025

Remains of Shiri Bibas, mom of two killed,...

February 22, 2025

Trump admin guts AmeriCorps, Clinton-era volunteer agency that...

April 18, 2025

    Join our mailing list to get access to special deals, promotions, and insider information. Your exclusive benefits await! Enjoy personalized recommendations, first dibs on sales, and members-only content that makes you feel like a true VIP. Sign up now and start saving!


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

    Editors’ Picks

    • 1

      First lady Melania Trump’s new official portrait revealed

      January 28, 2025
    • 2

      Health experts prep Dem lawmakers on anti-vaccine arguments ahead of RFK Jr’s confirmation hearings

      January 28, 2025
    • 3

      ECOWAS pledges to ‘keep door open’ after 3 coup-hit West African nations exit regional bloc

      January 30, 2025
    • 4

      Vale Launches Strategic Review of Thompson Nickel Operations Amid Market Challenges

      January 28, 2025
    • 5

      American fighters are dying in Ukraine in growing numbers. Bringing their bodies home is a complex task

      January 30, 2025
    • 6

      Scorched-earth Shanahan: RFK Jr’s former running mate threatens political war against confirmation opponents

      January 30, 2025
    • 7

      Coral bleaching on Australia’s Great Barrier Reef reaches ‘catastrophic’ levels, study finds

      January 23, 2025
    • About us
    • Contacts
    • Privacy Policy
    • Terms and Conditions
    • Email Whitelisting

    Disclaimer: richpeopletrades.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 © 2025 richpeopletrades.com | All Rights Reserved