Richard Rubin
speaker
154 appearances
10 recordings
3 series
first heard Apr 2025
last heard 14 Apr
Richard Rubin’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 4 in all, peaking in Jan 2026 with 2.
Appearances
The IRS really hasn't done it before.
And they're trying it right now.
Still a very important signal.
It's interesting that the IRS is doing this even while it's been quite friendly to tech companies, including Meta in the Trump administration.
And it's a sign of the IRS in some ways just doing things the way they had been doing it, not even really shifting to a more business friendly approach.
The House bill has these Medicaid cuts and you've got senators like Josh Hawley and Susan Collins on the Republican side who want to soften those a little bit. The House bill phases out the clean energy tax credits very quickly and there are senators like Tom Tillis of North Carolina who want to slow that down a little bit.
But there is a chance that that CBO estimate could rise after the bill passes through the Senate. That's one of the real questions. Does the Senate feel constrained by the House agreement to keep that deficit number at 2.4-ish trillion? The Senate could make that deficit number bigger and just say, okay, fine, we'll just have fewer spending cuts or more tax cuts and it's fine.
Das führt zu dem Risiko, in der Haustür zu verlieren und sogar in der Senate zu verlieren, weil es keine konservativen Mitglieder mehr gibt, die sich um die Defizite interessieren.
Sie können auch Wege finden, um die Kosten zu beheben, sowohl echte, wie auch andere Spendenkosten, oder Taxingröße, oder indem sie sagen, oh, es wird den ökonomischen Wachstum erhöhen, und wir nehmen also an, dass ein Gewinn von dem kommt. Sie haben also eine Reihe von Chancen, wie sie den Bill ändern und dann darüber sprechen, wie sie den Bill ändern. That was WSJ Reporter Richard Rubin.
Thank you, Richard. Great, thank you.
WSJ What’s News · What’s in President Trump’s Tax Bill as it Heads to the Senate · 22 May 2025
podcast
This bill is a combination of, weirdly, tax cuts, tax increases, spending cuts, and spending increases. It extends the expiring 2017 tax cuts, which laps at the end of this year, and adds some new tax cuts, versions of the no tax on tips and overtime and Social Security benefits. some business tax provisions in there. It also increases taxes.
It limits itemized deductions for some high earners, and it repeals or phases out very quickly some tax credits for clean energy. It's got spending cuts, so Medicaid and nutrition assistance programs in particular will have less money, more frequent eligibility checks, more cost-sharing, pushing some costs to states, and some new work requirements for Medicaid in particular for able-bodied people.
And then the custom spending increases. There's more money in there for border security and for national defense. And so this is a mishmash. It really is just sort of smushing as many administration and Republican priorities into one piece of legislation as they possibly can.
The Republicans have a 53 to 47 majority in the Senate, so they've got three votes to spare because the vice president can break a tie. The Senate is off next week for Memorial Day, so they'll return in June and get cranking on this. The ultimate goal is to get this to President Trump's desk by July 4th. That's a bit of a stretch. In some ways, the real deadline may be the end of July when...
We're approaching the debt limit, the need to raise the debt limit. I do expect some changes in the Senate, and we've heard that from senators today. They've got some concerns about the clean energy tax breaks. They've got some concerns about Medicaid. Some want more spending cuts. Some want fewer spending cuts. That said, senators have been working with the House all along.
So the House bill does already reflect some Senate priorities, but there are going to be some changes.
Thank you.
The version that the House Rules Committee has posted is just over a thousand pages.
We're going to need a very large nutshell for this. This is an attempt to roll a bunch of Republican priorities into one piece of legislation. Basically, they've got so many different factions of the party that everyone can get something.
And even if there are parts of it that they don't like, that everyone will be on board for the one big, beautiful bill that represents the core of Trump's agenda.
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