(The Center Square)—Republican leaders are racing to pass the Trump-endorsed One Big Beautiful Bill Act by Independence Day, but more than a dozen GOP members of Congress still harbor major concerns that could tank the giant package.
The House-passed OBBBA, a multitrillion-dollar budget reconciliation bill implementing President Donald Trump’s major policy priorities, has undergone Senate committee revisions and is currently under the Senate parliamentarian’s review.
House Speaker Mike Johnson, R-La., made a variety of delicate compromises to placate Republican factions in his chamber, narrowly passing the bill in May after months of assembling it.
Johnson helped accelerate the phaseout of Inflation Reduction Act subsidies and reform entitlement programs like Medicaid and SNAP to help offset the bill’s 10-year extension of the 2017 Tax Cuts and Jobs Act. The bill’s total of $1.7 trillion in spending cuts won over enough fiscal hawks — including Reps. Chip Roy, R-Texas; Ralph Norman, R-S.C.; Andrew Clyde, R-Ga.; and Josh Brecheen, R-Okla.; — for the bill to pass.
The speaker also compromised with Blue-state Republicans who wanted a higher state and local tax (SALT) deduction cap, settling on a $40,000 cap to place New York Reps. Rep. Mike Lawler, Nick LaLota, Andrew Garbarino and Elise Stefanik.
But, as The Center Square reported, Senate committees have either significantly scaled back or completely removed those very compromises in their revisions to the bill, alienating not only those lawmakers but also some in their own chamber.
Among other things, Senate committees increased the House’s $4 trillion debt ceiling raise to $5 trillion, extended most TCJA tax provisions permanently rather than for 10 years only, and dramatically slowed the phaseouts of energy-related IRA subsidies.
They also lowered the House’s hiked tax on university endowments, axed its tax on private foundations, softened its work requirements for Medicaid, and reduced fiscal penalties on states with high SNAP payment error rates.
These changes infuriated fiscal hawks in both the House and the Senate, with all four in the House who flipped, plus Rep. Thomas Massie, R-Ky., pledging not to vote for the bill again if the Senate passes it.
Additionally, Senate committees completely killed the House’s SALT provisions, losing the support of the four House members from New York, who are still hopeful for a future compromise but would also not support the bill when or if it returns to the lower chamber.
But the bill may not even pass the Senate, even though budget reconciliation rules require only a majority vote, because Sens. Ron Johnson, R-Wis., and Rand Paul, R-Ky., have decried the spending changes as well.
Other GOP senators — including Sens. Josh Hawley, R-Mo., Lisa Murkowski, R-Alaska, and Jim Justice, R-W.Va., — have said they have “major concerns” with the Senate version lowering the House’s 6% Medicaid provider tax cap to 3.5%, potentially impacting rural hospitals.
Johnson and Senate leaders are continuing to hold closed-door negotiations with holdouts in both chambers, and the Senate parliamentarian might rule out some of the more controversial changes if they violate the Byrd Rule.
At Last, a Company With Integrity in the Gold IRA Industry
For several years, I’ve been vetting out precious metals companies in search of the best. I believe in gold and silver but it’s hard to find integrity in the Gold IRA industry. The vast majority operate with shady tactics and gigantic spreads that take advantage of Americans who simply want to protect their life’s savings.
I’ve found a handful that I like and I’ve worked with some of them. By no means would I “unrecommend” them because, again, I vetted them out and found them to be above the fold. Unfortunately, it isn’t hard to be better than the rest when the rest are so darn awful.
After years of searching, I finally found a company that truly operates with integrity. Augusta Precious Metals has three important attributes that set them far above the competition:
- Non-Commissioned Sales Team: I cannot stress how important and unique this is. With just about every other company in the Gold IRA industry, the sales teams make commission from every account they open. This means they steer their clients toward the gold and silver products with the highest commission. With Augusta Precious Metals, the team is solely focused on putting the best gold and silver for their clients into their IRA. They get paid to serve the best interests of the Gold IRA client, NOT their own commission pay.
- Incredibly Low Fees: Most Americans would be shocked if they knew the spread other Gold IRA companies charge. Augusta charges just 5% versus up to 45% elsewhere.
- No Pressure, No Gimmicks: There’s an understanding among most in the Gold IRA industry that fear and pressure is the way to go. Augusta Precious Metals takes a sober approach when working with clients because they hold integrity in the highest possible regard. This is why they don’t offer gimmicks like “free” or “bonus” silver. It’s also why they do not apply pressure tactics to get quick sales. Their educational and transparent approach to doing business is exceedingly rare in the Gold IRA industry.
