The Bulwark Podcast Liam Donovan and Brendan Boyle: The Great Grift
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Jan 8, 2025 Liam Donovan, a political analyst and former aide to Senate Republicans, and Brendan Boyle, a Democratic congressman from Pennsylvania, dive into the intricate world of tax policy negotiations. They discuss the looming expiration of Trump's tax cuts and the reconciliation process that could allow Republicans to make significant budget adjustments. The duo also examines potential corruption in the new administration and the implications of a government shutdown. Along the way, they sprinkle in humor and commentary on the cultural impact of politics.
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Reconciliation Basics
- Reconciliation allows Republicans to bypass the filibuster for specific issues like spending, revenue, and the debt limit.
- It's a way to pass legislation with a simple majority, avoiding the usual 60-vote requirement in the Senate.
Budget Neutrality in Reconciliation
- Reconciliation bills don't have to be budget-neutral initially, but the spending/tax changes must be offset within a 10-year window.
- The 2017 Trump tax cuts used this by setting a $1.5 trillion deficit limit and making individual cuts expire after seven years.
Focus on Tax Agreement
- Republicans should focus on finding areas of agreement on taxes to build consensus and achieve early wins.
- Don't get bogged down in procedural debates, but address the fundamental question of tax agreement upfront.