{"id":40100,"date":"2023-11-01T17:54:47","date_gmt":"2023-11-01T17:54:47","guid":{"rendered":"https:\/\/prosfunds.com\/news\/us-house-speaker-johnson-to-bring-israel-bill-to-floor-despite-deficit-risk\/"},"modified":"2023-11-01T17:54:49","modified_gmt":"2023-11-01T17:54:49","slug":"us-house-speaker-johnson-to-bring-israel-bill-to-floor-despite-deficit-risk","status":"publish","type":"post","link":"https:\/\/prosfunds.com\/?p=40100","title":{"rendered":"US House Speaker Johnson to bring Israel bill to floor despite deficit risk"},"content":{"rendered":"
\n

WASHINGTON (Reuters) -U.S. House of Representatives Speaker Mike Johnson said on Wednesday he plans to hold a vote on a standalone Israel aid bill despite a Congressional Budget Office report showing it could increase the federal deficit.<\/p>\n

In the first major legislative action under Johnson, House Republicans unveiled their bill on Monday seeking to provide $14.3 billion for Israel by cutting Internal Revenue Service (IRS) funding.<\/p>\n

However, the measure is unlikely to pass.<\/p>\n

Democrats and some Republicans oppose the plan, choosing instead to support Democratic President Joe Biden’s request for a $106-billion bill including funding for Ukraine as it fights Russian invaders, increased border security, humanitarian aid and efforts to push back against China in the Indo-Pacific, as well as money for Israel.<\/p>\n

The non-partisan Congressional Budget Office (CBO) said on Wednesday that the IRS cuts and the Israel aid in the standalone bill would add nearly $30 billion to the U.S. budget deficit, currently estimated at $1.7 trillion.<\/p>\n

Johnson rejected that assessment, telling reporters: “We don’t put much credence in what the CBO says.” <\/p>\n

To become law, any legislation must pass the House, where Republicans have a slim majority, and the Democratic-controlled Senate and be signed into law by Biden. <\/p>\n

Democrats accused Johnson’s Republicans of wasting time by backing a partisan measure rather than a bill that would pass quickly and address the crisis that has followed the Oct. 7 attack on Israel by Iran-backed Hamas militants from the Gaza Strip.<\/p>\n

The top Senate Democrat, Chuck Schumer, said on Tuesday the bill would be dead on arrival in the upper chamber.<\/p>\n

The Biden administration said Biden would veto such a bill if it reached his desk, calling it “bad for Israel, for the Middle East region, and for our own national security.”<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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