Richard Rubin
Appearances
Apple News Today
The GOP’s tug-of-war over spending cuts
Part of that report clearly said, look, we're concerned that the proposals that are coming out of this Congress and administration does not make significant, meaningful changes.
Apple News Today
The GOP’s tug-of-war over spending cuts
The concern is that the more the U.S. government is borrowing, it'll be harder to have investment capital for new factories, new homes, new whatever. And it can drive up interest rates. And those interest rates obviously go into what you're paying on credit cards and mortgages and those kinds of things.
Apple News Today
The GOP’s tug-of-war over spending cuts
And they would also argue that other parts of the Trump agenda, the deregulation, oil and gas production, are also going to generate growth. And they're saying, basically, if you take all of that growth, the growth caused by this bill and the growth that will happen outside this bill, that will increase the economy so much, then throw off enough revenue and basically cover the cost.
Apple News Today
The GOP’s tug-of-war over spending cuts
The way they're thinking about it is the extension of the tax cuts won't get felt much at all because it's just keeping the status quo. These things are scheduled to expire where people are very much used to them. So Republicans clearly are concerned about deficits, but they also view an expiration of the tax cuts as scheduled at the end of this year as completely untenable.
Apple News Today
The winners and losers of the GOP tax bill
They're trying to extend all of the tax cuts that are expiring at the end of this year, the ones they passed in 2017, but temporarily. They're trying to add some new tax breaks in addition to that.
Apple News Today
The winners and losers of the GOP tax bill
Does that change, you know, does it hit beneficiaries, does it hit providers, does it hit hospitals? I mean, there's a lot of concern about what a shrinking flow of funding might mean for rural hospitals in particular. And so I think that's something that we're still getting analysis on.
Apple News Today
The winners and losers of the GOP tax bill
It's an incredibly difficult job that House Speaker Mike Johnson has, right? Like he's got all of these different factions who know that for all intents and purposes, this is their one big beautiful shot to write legislation with a Republican majority. So they want to make sure that they get something that they can live with.