The Daily Signal - TOP NEWS | Debt Ceiling Debate Heats Up, FBI Director Could Be Held In Contempt Over Subpoenaed Document, Former First Lady | May 30

Starting point is 00:00:01 I'm Virginia Allen. I'm Samantha Sherris. And this is the daily signal top news for Tuesday, May 30th. Here are today's headlines. Republican Representative Scott Perry of Pennsylvania, the chairman of the Conservative House Freedom Caucus, said today that the debt-sealing deal brokered by President Joe Biden and House Speaker Kevin McCarthy fails completely. Take a listen. We're here to let you and the American people know that Speaker McCarthy had a mandate from the, the American people negotiated with a powerful negotiation position of a unified Republican Party, not only just in the House, but in the House and the Senate, to hold the line for the bill that we passed. This deal that we've heard about totally fails to deliver on all of it.

Starting point is 00:01:03 Biden and McCarthy reached a deal on the debt ceiling on Saturday. The 99-page bill, known as the fiscal responsibility. Act of 2023 aims to rescind roughly 30 billion of unspent COVID-19 relief funds and completely fund veteran medical care at the levels in the president's proposed budget for 2024. According to the Associated Press, the bill also ends the student loan repayment pause in late August. The House of Representatives is expected to vote on the legislation on Wednesday. CNN reports that the bill also aims to suspend the U.S. debt limit until January 1st of 2025, keep non-defense spending relatively flat in fiscal year 2024,

Starting point is 00:01:53 increase non-defense spending by 1% in fiscal year 2025, and accelerate the completion of a natural gas pipeline in West Virginia, known as the Mount Valley Pipeline. Joining us to further discuss the bill is Ryan Walker. the Vice President of Heritage Action, which is the grassroots arm of the Heritage Foundation. Brian, thanks so much for joining us. Thank you for having me. So first and foremost, what are your thoughts on this bill?

Starting point is 00:02:20 Yeah, I think it's, listen, this has been quite the process in the House. As we saw a month or so ago, Republicans in the House passed the Limits Safe Grow Act, which was to date the largest piece of legislation addressing the debt and debt. deficit that we've seen cross the House floor and supported by the Republican Conference. The deal that we have at hand in front of us, though, is significantly less than the Limitsave Grow Act and does not adhere to the three requirements that Heritage Foundation and Heritage Action laid out in January as we saw this debate coming to the House and members starting to listen to the debates on policy and what should or should not be included. And the deal that we have

Starting point is 00:03:14 in front of us, unfortunately, it just doesn't meet those requirements that we laid out in January. Now, we are expecting a vote on this legislation tomorrow. Based on what you've been hearing, do you think it's likely to pass in the House? I think so. Listen, I think the numbers are a big question. There is discussion that Republicans are looking to get around 140 votes from their conference. That would be a high number to support a package like this, a debt ceiling increase of up to $4 trillion, suspension until January of 2025, and small, minuscule cuts to non-defense discretionary, which on net are about $12 billion. So I think they'll need Democrats support from this, and we've got to,

Starting point is 00:04:03 seen some of those groups representing Democrat lawmakers come out in support. So the new Democrat coalition, which represents like 90 to 100 Democrats in the House, has come out and supported the package. So I think that there's a high likelihood that it passes. I think the question though is on how many Republicans end up supporting this bill. From the Republican perspective, what changes do you think need to be made in order for them to get on board, for those who are against the legislation as it is standing now? Yeah, great question. I think the top thing in the minds of lawmakers who are

Starting point is 00:04:41 have already come out in opposition or are thinking they are opposed quietly is that the cuts to discretionary spending year over year are something, but they are not enough to bend what is seen as the fiscal curve or where our fiscal spending is going. Right now, it looks like a diagonal line sort of just going up for infinity. And unless we bend that curve down so that the out years, later you're 10, 15 years down the road, we're spending less than we had anticipated under inflation growth and all of that sort of conversation, members are very focused on that. So one, discretionary spending cuts needed to be more.

Starting point is 00:05:30 If you look back at Limitsave Grove, it was around $130 billion that would get us to a good marker as pre-COVID levels of spending. And this bill, I think you could argue, only gets at that question with about $12 billion in cuts. So that's number one, more discretionary cuts. The second thing is, and I think that this is actually a really big deal, is that the debt ceiling is suspended until January 1 of 2025. Now, with extraordinary measures, I think that creates the scenario where we're in sort of the same position in 2025 as we are now, and Treasury can extend out that timeline past January and into March, April, May. And it would give the Congress the ability to weigh in at that juncture. But it does also give the administration carte blanche to issue new rules and regulations that could cost the American economy. and taxpayer a significant amount of money.

Starting point is 00:06:33 If you look back to the student loan forgiveness bill or executive action that the president has taken, CBO estimates that will cost the American people $500 billion. Now, Republicans, I think in leadership and folks who have helped to negotiate this deal would push back and say, well, we've included a provision called PAYGO, administrative PAYGO, which would require the administration to go out

Starting point is 00:06:59 and fine cuts in other areas in order to implement some regulation. Unfortunately, also included in the deal is some language that would give the OMB director the ability to waive that rule and pass and implement most, if not all, of what Biden wants to do. And in fact, today we've seen the White House Shalanda Young, OMB director, great staff member in the house, I might add. She worked for Steny Hoyer for a number of years, so she knows the budget. She knows the rules and ways that you go about this work and the shortcuts that can be taken through an administration, rules that can be ignored. And she said today that if it were a requisite for them to waive those requirements in order to implement a Biden rule, they would.

Starting point is 00:07:48 And I think that speaks volumes to their interpretation of the language, whether it is legally sound or not, the administration will go down that pathway all on the hopes and chances that they get some of those rules implemented. And if that is not a warning sign in the night, I'm not sure what is. And we've seen this administration use, as Obama described, the pen and the phone, to implement all sorts of rules and regulations. They've relaxed snap work requirements, snap beneficiaries, the pool. of folks eligible for SNAP benefits has been expanded substantially. They have issued the student loan rule. They have done great work in the regulatory and rulemaking space to get at their agenda

Starting point is 00:08:39 because they have been stymied in the legislative space on some of these things, not all because they've had control of both chambers of Congress and the presidency. And so, listen, I think those are the two highest order changes that members would ask for, and I think that they're right to ask for them. Well, Ryan Walker, thank you so much for joining us. It's certainly going to be interesting to see the vote tomorrow and whether or not this legislation passes. We'd love to have you back on to discuss further.

Starting point is 00:09:07 Thanks so much for joining us. Thank you for having me. In other McCarthy-related news, the speaker said on Fox News this morning that he'll move to hold FBI Director Christopher Ray in contempt if he doesn't provide a document subpoenaed by the House Oversight and Accountability Committee. Our colleague Fred Lucas reports that House Oversight and Accountability Chairman James Comer of Kentucky

Starting point is 00:09:30 subpoenaed the FBI for information about the alleged arrangement involving an exchange of money for a policy decision between a foreign national and Biden while serving as vice president under President Barack Obama. But the FBI missed an initial deadline and is about to miss a subsequent deadline. Let's take a listen to what McCarthy had to say on Fox and Friends. Comer subpoenaed the document that he's requested. We have jurisdiction over the FBI, which they seem to act like we do not. I personally called Director Ray and told him he needs to send that document. Today is the deadline.

Starting point is 00:10:12 So let me not just tell you, let me tell Director Christopher Ray right here right now. If he misses the deadline today, I am prepared to move contempt charges in Congress against him. We have jurisdiction over this. He can send us that document. We have the right to look at that. Republicans and Democrats alike in that committee. And if he does not follow through with the law, we will move contempt charges against Christopher Ray and the FBI. Ray is reportedly planning a phone call with Comer on Wednesday.

Starting point is 00:10:43 That's one day after the May 30th deadline given to the FBI before a contempt citation. An FBI whistleblower first approached the office of Iowa Republican Senator Chuck Grassley about an FD 103 form that details the information. Grassley, the co-chairman of the Senate Whistleblower Protection Caucus, forwarded the information to Comer, whose committee in the House majority has subpoena power. The Carter Center announced on Tuesday that the former First Lady, Rosalind Carter, has dementia. The Carter Center says that Carter, who is 95, continues to live happily at home with her husband enjoying spring in plains and visits with loved ones. The Center adds one in ten older Americans have dementia, a condition that affects overall mental health. We recognize, as she did more than half a century ago, that stigma is often a barrier that keeps individuals and their families from seeking and getting much-needed support. We hope sharing our family's news will increase important conversations at kitchen tables

Starting point is 00:11:54 and doctors' offices around the country. Former President Jimmy Carter, who is 98, and the longest living president, began receiving hospice care at his home in Georgia in February. And with that, that's going to be it for today's episode. Thanks for joining us here on the Daily Signal Top News. If you haven't gotten a chance, be sure to check out our morning show right here in this podcast feed, where we interview lawmakers, experts, and leading conservative voices. Join us tomorrow morning for the Daily Signal interview edition. Tyler O'Neill is sitting down with a Christian former professor

Starting point is 00:12:29 who almost got fired for ostensibly creating a suicidal environment. For LGBT students in the classroom, is now running an organization dedicated to helping college students maintain their faith in a hostile environment. Also, make sure you subscribe to the Daily Signal wherever you get your podcasts and help us reach even more listeners by leaving a five-star rating and review. We read and appreciate all of your feedback. Once again, thanks for joining us today. Have a wonderful evening. We'll see you right back here tomorrow morning.

Starting point is 00:13:05 The Daily Signal podcast is brought to you by more than half a million members of the Heritage Foundation. Executive producers are Rob Louis and Kate Trinko. Producers are Virginia Allen and Samantha O'Sheras. Sound designed by Lauren Evans, Mark Geinney, and John Pop. To learn more, please visit DailySignal.com.

The Daily Signal - TOP NEWS | Debt Ceiling Debate Heats Up, FBI Director Could Be Held In Contempt Over Subpoenaed Document, Former First Lady | May 30

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