New Market Perspective
  • Business
  • Politics
  • Investing
  • World
  • Business
  • Politics
  • Investing
  • World

New Market Perspective

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
Hamas launches rocket barrage into Israel from Rafah, sounding alarms in Tel Aviv
next post
More than 670 people feared dead after Papua New Guinea landslide, UN says

Related Posts

DOJ will not turn over Biden’s recorded interview...

April 9, 2024

Father of Israeli hostage mistakenly killed by IDF...

December 19, 2023

Netanyahu calls Mideast conflicts choice between ‘blessing or...

September 28, 2024

COUNTDOWN: Harris has just 4 days left to...

August 28, 2024

Israel to ban rebuilding of Israeli settlements in...

January 30, 2024

Top 5 most outrageous ways the government has...

May 3, 2025

Hunter Biden pardon raises new questions over 5th...

December 4, 2024

Where is the AI boom? Experts caution new...

January 18, 2024

Israeli president says no plans to expel Palestinians...

January 8, 2024

Gaza humanitarian aid port likely to take approximately...

March 9, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


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

    Latest

    • UK police make second arrest in connection with fires linked to PM Starmer

      May 18, 2025
    • Deported mom says toddler’s return to Venezuela after separation by US authorities was a ‘miracle’

      May 18, 2025
    • Duterte scores landslide win in local elections. But can he be mayor from The Hague?

      May 18, 2025
    • Austria’s JJ wins Eurovision 2025 with ‘Wasted Love’

      May 18, 2025
    • How Pope Leo dealt with years of abuse allegations in a powerful Catholic society in Peru

      May 18, 2025
    • The popemobile, a signet ring and a ‘betrothal:’ How Pope Leo’s inauguration will unfold

      May 18, 2025

    Popular

    • 1

      10 Top Oil-producing Countries (Updated 2024)

      October 19, 2024
    • 2

      Powered by rain, this seed carrier could help reforest the most remote areas

      December 19, 2023
    • 3

      A troubling theory about traders profiting from Hamas’ attack on Israel drew much attention. Why it may not be so simple.

      December 13, 2023
    • 4

      Americans are starting to feel better about the economy and inflation

      December 13, 2023
    • 5

      Rare Earths Stocks: 8 Biggest Companies in 2024

      January 12, 2024
    • 6

      Top 10 Uranium-producing Countries (Updated 2024)

      April 18, 2024
    • 7

      Investing in Graphene Companies

      May 9, 2024

    Categories

    • Business (1,322)
    • Investing (3,124)
    • Politics (4,105)
    • World (4,057)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: newmarketperspective.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 newmarketperspective.com | All Rights Reserved