Mike Johnson defends aggressive push to pass Trump’s budget bill

Source Cryptopolitan

House Speaker Mike Johnson emphasized an “aggressive” schedule that he has set for President Donald Trump’s “One Big Beautiful Bill,” insisting that the House is still on target to approve the sweeping package by Memorial Day.

Speaking on “Fox News Sunday” Johnson said his team is “on track, working around the clock to deliver this nation-shaping legislation for the American people as soon as possible.” He noted that all 11 committees have completed their work and that they “spent less and saved more than even we’ve projected initially.” He called the bill “a once in a generation opportunity.”

Mike Johnson defends aggressive push to pass Trump’s budget bill
Source: Fox News

Once the budget committee approves the measure, Johnson plans to send it to the House Rules Committee by mid-week. From there, he expects to bring it to the full House floor before the week’s end so that lawmakers can “meet our original Memorial Day deadline.”

Johnson emphasized why the tight timetable matters so much. “This is the vehicle through which we will deliver on the mandate the American people gave us during the last election,” he said. He promised “historic savings for the American people, historic tax relief for American workers, [and] historic investments in border security.”

He added “At the same time, we’re restoring American energy dominance, and we’re rebuilding the defense industrial base, and we’re ensuring that programs like Medicaid and SNAP are strengthened for U.S. citizens who need and deserve them and not being squandered away by illegal aliens and persons who are ineligible to receive them and are cheating the system.”

Johnson stressed the importance of making Trump’s 2017 tax cuts permanent by 2026. He pointed out that the package would eliminate taxes on overtime and tips, fulfilling a 2024 Trump campaign pledge, and would introduce fresh tax relief for Social Security recipients. He also said it would cut taxes on “job creators,” thereby encouraging American manufacturing and production across the country.

“This is a big thing. We cannot fail, and we’ll get it done for the American people,” Johnson declared.

Mike Johnson faces disagreement from members of his party

South Carolina Rep. Ralph Norman and Texas Rep. Chip Roy have criticized Johnson for not moving faster on spending cuts. They’ve called for work requirements for able-bodied adult Medicaid recipients to start well before 2029.

Johnson said that he shares their goal but worries about whether states can “retool their systems and ensure the verification process” is strong enough.

“We’re working through all those details, and we’ll get it done,” he said, adding, “but I’ll tell you what, this is the largest spending reduction in at least three decades, probably longer. It’s historic.”

He noted support from Office of Management and Budget Director Russ Vought and from “nearly 500 organizations across the conservative spectrum” that back restrictive spending.

Johnson urged, “We are. This is our opportunity to do it. It’s once in a generation, as I’ve said, and we can’t squander it.”

He expressed confidence that a compromise on the Medicaid work requirement would satisfy internal critics but conceded that not a single Democrat is expected to support the bill.

“Which means that they will be on record apparently supporting the largest tax increase in U.S. history, which is what will happen by default after the end of this year if we do not get this job done,” Johnson said. “We have to accomplish this mission, and we will.”

Cryptopolitan Academy: Coming Soon - A New Way to Earn Passive Income with DeFi in 2025. Learn More

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Musk says Tesla could hit $100 Trillion, but needs "enormous work"Elon Musk acknowledged over the weekend that getting Tesla to a $100 trillion company value would demand massive effort and fortune. The statement came after investors suggested this sky-high number could happen if his various businesses merge together. Right now, Tesla sits at $1.5 trillion in market value. Getting to $100 trillion would mean multiplying […]
Author  Cryptopolitan
14 hours ago
Elon Musk acknowledged over the weekend that getting Tesla to a $100 trillion company value would demand massive effort and fortune. The statement came after investors suggested this sky-high number could happen if his various businesses merge together. Right now, Tesla sits at $1.5 trillion in market value. Getting to $100 trillion would mean multiplying […]
placeholder
Fed to enter gradual money-printing phase, says Lyn AldenLyn Alden says the Federal Reserve is likely entering a gradual phase of money printing rather than aggressive stimulus.
Author  Cryptopolitan
14 hours ago
Lyn Alden says the Federal Reserve is likely entering a gradual phase of money printing rather than aggressive stimulus.
placeholder
Global crypto searches near 1‑year low at 30 as market cap slumps 43%Global interest in crypto is at a year-long low, with Google searches dropping as the market cap falls 43%.
Author  Cryptopolitan
14 hours ago
Global interest in crypto is at a year-long low, with Google searches dropping as the market cap falls 43%.
placeholder
Arthur Hayes Attributes Bitcoin Crash to ETF-Linked Dealer HedgingArthur Hayes, the co-founder of BitMEX, suggested that institutional dealer hedging is exacerbating the recent downward pressure on Bitcoin prices.In a February 7 post on X, Hayes pointed to structure
Author  Beincrypto
14 hours ago
Arthur Hayes, the co-founder of BitMEX, suggested that institutional dealer hedging is exacerbating the recent downward pressure on Bitcoin prices.In a February 7 post on X, Hayes pointed to structure
placeholder
Tom Lee’s BitMine Adds Another $42 Million in Ethereum Despite Crypto WinterBitMine, the largest corporate holder of Ethereum, has capitalized on the digital asset’s recent price volatility to expand its treasury holdings.On February 7, blockchain analysis platform Lookonchai
Author  Beincrypto
14 hours ago
BitMine, the largest corporate holder of Ethereum, has capitalized on the digital asset’s recent price volatility to expand its treasury holdings.On February 7, blockchain analysis platform Lookonchai
goTop
quote