{"id":2153379,"date":"2024-01-19T04:05:01","date_gmt":"2024-01-19T09:05:01","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/washington-uniparty-plans-more-welfare-spending-under-misnamed-child-tax-credit\/"},"modified":"2024-01-19T04:11:02","modified_gmt":"2024-01-19T09:11:02","slug":"washington-uniparty-plans-more-welfare-spending-under-misnamed-child-tax-credit","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/washington-uniparty-plans-more-welfare-spending-under-misnamed-child-tax-credit\/","title":{"rendered":"Washington Uniparty to Increase Welfare Spending via Misnamed &#8216;Child Tax Credit"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fwashington-uniparty-plans-more-welfare-spending-under-misnamed-child-tax-credit%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2153379&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div class=\"article-content\">\n<blockquote>\n<h2 class=\"wp-block-heading\">Both Parties in Washington Negotiating a Dangerous Giveaway<\/h2>\n<p>Stop me if \u2063you\u2019ve \u2064heard this one before: Both parties\u200b in Washington are negotiating to \u200bcreate a giveaway that will blow a bigger hole in our $34 trillion debt. And this giveaway goes \u200dabove and beyond the bad deal that House Speaker Mike Johnson, R-La., recently cut that will <a href=\"https:\/\/thefederalist.com\/2024\/01\/10\/speaker-johnson-folds-like-a-cheap-suit-allowing-democrats-to-increase-spending\/\" target=\"_blank\" rel=\"noreferrer noopener\">increase \u200bspending this fiscal\u2063 year<\/a>.<\/p>\n<p>Separate \u200dand distinct from \u2062the spending negotiations, congressional tax writers are\u200c <a href=\"https:\/\/www.wsj.com\/politics\/policy\/congress-explores-curbing-pandemic-tax-break-in-bid-for-last-ditch-deal-cf02f4b6?mod=lead_feature_below_a_pos1\" target=\"_blank\" rel=\"noreferrer noopener\">reportedly<\/a> \u2064 close to \u2062reaching agreement on \u2064a tax\u2064 package, which they may\u200c attempt to <a href=\"https:\/\/punchbowl.news\/article\/the-vault-tax-writers-near-bipartisan-tax-deal\/\" target=\"_blank\" rel=\"noreferrer noopener\">attach to the \u200dspending agreement<\/a>.\u2063 (This is \u200bhow we end \u2064up with <a href=\"https:\/\/www.appropriations.senate.gov\/imo\/media\/doc\/JRQ121922.PDF\" target=\"_blank\" rel=\"noreferrer noopener\">4,000-page<\/a> <a href=\"https:\/\/thefederalist.com\/2022\/12\/21\/anonymous-gop-aide-epitomizes-the-swampiness-behind-congresss-omnibus-spending-bill\/\">omnibus bills<\/a> that nobody reads \u2014 because all of Congress\u2019s \u201cbackroom deals\u201d get stuck into one massive measure.) The \u2064idea of \u2064passing a\u2063 tax cut sounds appealing in theory, but the closer\u2063 one\u2063 gets to examining the details, the greater the stench becomes.<\/p>\n<\/blockquote>\n<div class=\"fdrlst__b89e9-paragraph-2-long d-flex justify-content-center\" style=\"margin-left: auto; margin-right: auto; text-align: center; \" id=\"fdrlst__b89e9-776728215\">\n<div id=\"div-gpt-ad-1379703300879-0\" class=\"mb-30\"><\/div>\n<\/div>\n<div class=\"fdrlst__b89e9-5d08340d81c56b6e7fab9cd6ecd6de78 fdrlst__b89e9-paragraph-2\" id=\"fdrlst__b89e9-5d08340d81c56b6e7fab9cd6ecd6de78\"><\/div>\n<h2 class=\"wp-block-heading\">\u2018Tax Package\u2019 Means Spending Spree<\/h2>\n<p>Several\u200b facets of this reported \u201ctax\u200d package\u201d\u200c stand out as objectionable to conservatives, starting with its name.<\/p>\n<ul>\n<li><strong>Welfare \u200dSpending:<\/strong> One <a href=\"https:\/\/www.semafor.com\/article\/01\/09\/2024\/house-senate-taxes-ctc\" target=\"_blank\" rel=\"noreferrer noopener\">report<\/a> \u2062noted, \u201cDemocrats are looking to expand the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/white-house-releases-list-of-president-trumps-accomplishments-and-it-is-historic\/\" title=\"White House Releases List of President Trump\u2019s Accomplishments \u2013  And It Is Historic!\">child tax credit<\/a> \u2063by bumping up the portion that families can receive as a\u2064 cash payment if they don\u2019t \u2064owe \u2062any more money to\u2063 the IRS.\u201d Except that giving cash to people who don\u2019t owe taxes isn\u2019t a \u201ctax\u2064 cut\u201d \u2014 it is\u200c an outlay (i.e., \u2063welfare)\u200d payment.<\/li>\n<li>Democrats beefed up the child\u200d \u201ctax credit\u201d\u2064 as part of their 2021 \u201cstimulus\u201d giveaway during Covid-19. \u200dAfter failing to extend\u2062 these payments in President Joe Biden\u2019s \u2062proposed <a href=\"https:\/\/thefederalist.com\/2021\/12\/13\/republicans-should-force-democrats-to-vote-on-the-full-5-trillion-build-back-bankrupt\/\" target=\"_blank\" rel=\"noreferrer noopener\">Build Back \u2064Bankrupt legislation<\/a>, they want to trade an extension of them, albeit at a \u200breduced\u200d level from the\u2063 2021 parameters, for \u2062various corporate expensing \u2064provisions that Republicans have prioritized. It\u2019s the\u2063 typical Washington dynamic whereby both sides\u200d agree to vote\u200b for the other\u2019s priorities. Or, to put\u200c it more\u200c bluntly, everyone \u201cwins\u201d \u2062\u2014 except\u2063 the\u200c taxpayers footing the bill.<\/li>\n<li><strong>Hidden Costs:<\/strong> Various reports claim the package will total anywhere from <a href=\"https:\/\/www.semafor.com\/article\/01\/09\/2024\/house-senate-taxes-ctc\" target=\"_blank\" rel=\"noreferrer noopener\">$50 \u200dbillion<\/a> to as much as <a href=\"https:\/\/www.wsj.com\/politics\/policy\/congress-explores-curbing-pandemic-tax-break-in-bid-for-last-ditch-deal-cf02f4b6?mod=lead_feature_below_a_pos1\">$100 billion<\/a>. But because the provisions will only get <a href=\"https:\/\/punchbowl.news\/article\/the-vault-tax-writers-near-bipartisan-tax-deal\/\" target=\"_blank\" rel=\"noreferrer noopener\">extended \u2062through 2025<\/a> (when other \u200dprovisions of \u2063the 2017 Trump tax law expire), the short extension hides\u200d the full cost. According\u200c to the Committee for a Responsible \u2064Federal Budget, a permanent extension of the provisions\u2064 being discussed\u2064 would <a href=\"https:\/\/www.crfb.org\/blogs\/potential-tax-deal-could-cost-830-billion\" target=\"_blank\" rel=\"noreferrer noopener\">cost about $830 billion<\/a> for its first 10 years.<\/li>\n<\/ul>\n<div class=\"fdrlst__b89e9-e285276793f0d615f51bb239f490c3bc fdrlst__b89e9-paragraph-6\" id=\"fdrlst__b89e9-e285276793f0d615f51bb239f490c3bc\"><\/div>\n<p><strong>Budget Gimmick:<\/strong> To offset some of the costs of the package, lawmakers are <a href=\"https:\/\/www.wsj.com\/politics\/policy\/congress-explores-curbing-pandemic-tax-break-in-bid-for-last-ditch-deal-cf02f4b6?mod=lead_feature_below_a_pos1\" target=\"_blank\" rel=\"noreferrer noopener\">reportedly talking about<\/a> scaling back \u200da Covid-era \u2062business tax break.\u200d Various press outlets <a href=\"https:\/\/www.wsj.com\/politics\/policy\/pandemic-tax-credit-went-wrong-b25ab03a\">have chronicled<\/a> how the employee\u200b retention tax credit has become riddled with fraud.<\/p>\n<p>Congress 1) allowed\u2064 businesses to claim\u2063 the credit without documenting a reduction in revenues (they can merely\u2064 claim they \u2063were \u200daffected by government lockdowns) and 2) permitted firms to file claims retroactively through 2025. As a result, a \u2063cottage industry of \u2062consultants\/scammers \u200bhas emerged instructing businesses \u2064on how to\u2062 claim this giveaway, while taking a cut \u2064for themselves in \u2063the process.<\/p>\n<p>Congress may use the tax package to tighten eligibility for the credit and\/or <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/inside-the-privacy-battle-raging-between-apple-and-facebook\/\" title=\"Inside The Privacy Battle Raging Between Apple And Facebook\">limit businesses\u2019 ability<\/a> to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/tax-expert-irs-announcement-is-nearly-unprecedented\/\" title=\"Tax Expert: IRS Announcement Is Nearly Unprecedented\">file amended returns<\/a>. Senate Finance Committee Chairman Ron Wyden, D-Ore., recently <a href=\"https:\/\/www.wsj.com\/politics\/policy\/congress-explores-curbing-pandemic-tax-break-in-bid-for-last-ditch-deal-cf02f4b6?mod=lead_feature_below_a_pos1\" target=\"_blank\" rel=\"noreferrer noopener\">told reporters<\/a> that \u201cthere is a good argument for using some \u200bof those dollars from cleaning up the\u200c abuses\u201d\u200d to pay \u2064for the tax package.<\/p>\n<p>No, there\u2062 isn\u2019t. To summarize Wyden\u2019s position: Congress\u2063 created a program that amounted to a recipe\u200d for\u2063 fraud \u2062\u2014 <em>which it \u2063never should \u2062have done\u200d in\u200b the first\u200c place<\/em> \u2014 and now wants \u200cto use the \u201csavings\u201d from cleaning \u200cup (only some of) its own mess to spend even more. Even a first grader could see \u200cthe absurdity of\u2064 Wyden\u2019s,\u200d and Congress\u2019s, logic.<\/p>\n<div class=\"fdrlst__b89e9-7c33c4016f8b4adffd49e7368b79a053 fdrlst__b89e9-paragraph-10\" id=\"fdrlst__b89e9-7c33c4016f8b4adffd49e7368b79a053\"><\/div>\n<h2 class=\"wp-block-heading\">Time \u2064to Cut Spending<\/h2>\n<p>By \u2062this point, many \u2062conservatives might \u200bhave noted \u200bthe dynamic nature of \u2064revenue reductions.\u200d If many tax cuts increase economic growth, which in turn\u2063 generates additional revenue for the federal government, why all the concern above about the package\u2019s cost?<\/p>\n<p>True, some tax reductions do \u2063<a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-touts-record-on-inflation-as-americans-spend-hundreds-more-per-month\/\" title=\"Biden highlights inflation success as Americans spend extra monthly.\">generate\u200d economic growth<\/a> and additional federal revenue. \u200dBut \u2064not all do, and not all generate enough growth to \u201cpay for themselves\u201d completely. One of the main components of\u200c this reported\u200d package \u2014 an extension\/expansion of the child \u201ctax credit\u201d \u2014 likely falls into that \u200crubric.<\/p>\n<p>And so, just like \u2062Johnson\u2019s spending deal, and like practically \u200devery other piece of legislation that has passed in \u2062Washington this century, both sides \u2064have agreed to ignore the fiscal consequences of their actions: \u201cI won\u2019t talk about your irresponsible giveaway\u2063 if you\u200b don\u2019t talk about mine.\u201d Corrupt bargains like \u200cthese \u2063are why we have \u200c$34\u200c trillion in debt \u2014 an out-of-control uniparty of\u2064 Washington \u2064spendthrifts obsessed \u200bwith giving away money our country\u2062 doesn\u2019t have.<\/p>\n<hr class=\"wp-block-separator\">\n<\/div>\n<p> <\/p>\n<h2> What potential risks \u2063do backroom deals and pet projects present in the context of PAA negotiations?<\/h2>\n<p><span>  Explores-curbing-pandemic-tax-break-in-bid-for-last-ditch-deal-cf02f4b6?mod=lead_feature_below_a_pos1&#8243;>announced<\/a> that he \u2063wants to make changes \u2062to the credit, but any changes will likely be insufficient to eliminate the fraud entirely. This\u200b means that taxpayers will still be on the\u200c hook for billions of\u2063 dollars in wasteful spending.<\/p>\n<h2 class=\"wp-block-heading\">No Transparency or Accountability<\/h2>\n<p>As usual, \u2064these negotiations are being conducted behind closed doors, with \u2063no transparency\u200c or accountability. While politicians may argue that this is necessary to reach\u2062 a compromise, it ultimately leads to bad deals and wasteful spending.<\/p>\n<p>Without public scrutiny, lawmakers can slip in provisions that benefit special interest groups or their own political\u2062 agendas,\u200c without having to justify them to the American people. This is how we end up with massive omnibus bills that nobody reads, filled with backroom deals \u2063and pet projects.<\/p>\n<p>Furthermore, the lack of accountability means that lawmakers \u2063can continue to make promises they have no intention of keeping. \u200bThey can claim to be fiscally responsible while simultaneously increasing \u2064our national debt with reckless spending. The American people deserve better.<\/p>\n<h2 class=\"wp-block-heading\">Conclusion<\/h2>\n<p>Both \u200dparties in Washington are negotiating a dangerous\u200c giveaway \u200bthat will further increase our national debt. The\u2063 reported \u201ctax package\u201d that is \u200cbeing discussed includes objectionable \u200cprovisions such\u200c as welfare spending disguised\u2064 as tax cuts, hidden costs, and budget gimmicks that do nothing to address our nation\u2019s fiscal problems.<\/p>\n<p>It is time for the American people to demand transparency and accountability from our elected officials. We cannot continue down this path of out-of-control spending and irresponsible policymaking. We must\u2063 hold our politicians accountable for their actions and demand that they make \u200bresponsible decisions that prioritize \u200bthe <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/no-win-situation-ousted-marvel-entertainment-head-says-he-told-disney-execs-dont-get-involved-in-politics\/\" title=\"\u2018No-Win Situation\u2019: Ousted Marvel Entertainment Head Says He Told Disney Execs \u2018Don\u2019t Get Involved In Politics\u2019\">long-term financial health<\/a> of our nation.<\/p>\n<p>This dangerous giveaway must be stopped, and it is up \u200dto us, the American people, to\u200d make\u2063 our voices heard.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Both parties in Washington are once again negotiating a giveaway that will worsen our $34 trillion debt. This deal surpasses the already detrimental agreement made by House Speaker Mike Johnson, R-La., which will lead to increased spending this fiscal year. It&#8217;s a recurring pattern that needs to be stopped<\/p>\n","protected":false},"author":521,"featured_media":2153380,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[546],"tags":[],"class_list":["post-2153379","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-federalist"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2153379","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/521"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2153379"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2153379\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2153380"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2153379"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2153379"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2153379"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}