Senator Eric Schmitt

But the law says it expires the end of this year. And if we allow it to expire the way the CBO scores it, the Congressional Budget Office says that we have to count that as a deficit once it expires at $4 trillion. What the House has got written is they have their budget wrote on current tax law. It should be current tax policy. That way we don't have to count it as a policy or as a debt.

But the law says it expires the end of this year. And if we allow it to expire the way the CBO scores it, the Congressional Budget Office says that we have to count that as a deficit once it expires at $4 trillion. What the House has got written is they have their budget wrote on current tax law. It should be current tax policy. That way we don't have to count it as a policy or as a debt.

Either way, we have to work those differences out before we can even start reconciliation. So once we get the budget done, then we can start reconciliation, and we still have FY26, which is why we've got to get rid of one more off our plate, FY25. The Biden administration—

Either way, we have to work those differences out before we can even start reconciliation. So once we get the budget done, then we can start reconciliation, and we still have FY26, which is why we've got to get rid of one more off our plate, FY25. The Biden administration—

left us in a mess they didn't do one single thing so we can get one thing off our plate we will be focusing on fy 26 at the same time getting the budget done and getting one big beautiful bill for president trump he's made he's made it very clear that's what he wants when do you think by when though just just to what i would if you were i think we're behind now we wanted to get it done uh by memorial weekend i don't think we can do that i think we're probably going to be in july by the time we get it done there's a chance

left us in a mess they didn't do one single thing so we can get one thing off our plate we will be focusing on fy 26 at the same time getting the budget done and getting one big beautiful bill for president trump he's made he's made it very clear that's what he wants when do you think by when though just just to what i would if you were i think we're behind now we wanted to get it done uh by memorial weekend i don't think we can do that i think we're probably going to be in july by the time we get it done there's a chance

It could all come together that quick now that we're not having to deal with this CR anymore. There's a chance it can get done. But I think realistically, it's going to be July.

It could all come together that quick now that we're not having to deal with this CR anymore. There's a chance it can get done. But I think realistically, it's going to be July.

We can. We can get a lot of cuts in there. I believe we could approach a trillion dollars in cuts. I think $2 trillion is going to be tough.

We can. We can get a lot of cuts in there. I believe we could approach a trillion dollars in cuts. I think $2 trillion is going to be tough.

It it'd be it'd be a trillion over this physical year. OK, that would be that's big. Yeah. So but that would be that'd be tough to do. But I'm saying it's possible. And that'd be when I say the fiscal year would be basically for the two year of Congress. So 119th Congress, we'd build it. So it's basically two years, but it'd be the physical year of FY26. It's wonky math.

It it'd be it'd be a trillion over this physical year. OK, that would be that's big. Yeah. So but that would be that'd be tough to do. But I'm saying it's possible. And that'd be when I say the fiscal year would be basically for the two year of Congress. So 119th Congress, we'd build it. So it's basically two years, but it'd be the physical year of FY26. It's wonky math.

It only works in government. But the real savings we could find is through rescission. Now, I know this is something you know about. Most of the public people are just now starting to figure out what rescission is. What's interesting about the rescission, and Elon and I were talking about this early last Saturday.

It only works in government. But the real savings we could find is through rescission. Now, I know this is something you know about. Most of the public people are just now starting to figure out what rescission is. What's interesting about the rescission, and Elon and I were talking about this early last Saturday.

I mean, he literally called me at 1 o'clock in the morning, and we're talking about this because I'd seen it before. I know. It's him and President Trump, two very successful guys, don't sleep. Maybe there's something to this. We've got it all wrong, people thinking that you've got to have eight hours of sleep because those two guys don't get it.

I mean, he literally called me at 1 o'clock in the morning, and we're talking about this because I'd seen it before. I know. It's him and President Trump, two very successful guys, don't sleep. Maybe there's something to this. We've got it all wrong, people thinking that you've got to have eight hours of sleep because those two guys don't get it.

But anyways, when you start looking at rescission, I sent Elon two PDF files with 1,500 programs, agencies, and departments that have not been reauthorized by Congress. and each one of them have a tag attached to them.

But anyways, when you start looking at rescission, I sent Elon two PDF files with 1,500 programs, agencies, and departments that have not been reauthorized by Congress. and each one of them have a tag attached to them.

Essentially, the rescission, he could go through each one of these that these agencies have not been reauthorized, these programs that have not been reauthorized, and these departments that have not been reauthorized, and give them to Congress one, two, or five at a time. In the rescission, we have 45 days to either agree with them or do nothing. If we do nothing, they've actually become law.

Essentially, the rescission, he could go through each one of these that these agencies have not been reauthorized, these programs that have not been reauthorized, and these departments that have not been reauthorized, and give them to Congress one, two, or five at a time. In the rescission, we have 45 days to either agree with them or do nothing. If we do nothing, they've actually become law.