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    Senators Call On SEC To Open Investigation Into Trump For Insider Trading

    By
    Madeleine Jackson
    -
    5

    Democrats are getting desperate…

    Senate Minority Leader Chuck Schumer (D-NY) and Sen. Elizabeth Warren (D-MA) sent a letter to the Securities and Exchange Commission (SEC) this week asking for an investigation into President Donald Trump’s social media posts urging stock market purchases ahead of his tariff pause announcement

    “We ask the SEC to determine whether President Trump, any members of his cabinet, or other donors, insiders, and administration officials engaged in insider trading, market manipulation or other securities laws violations on April 9, 2025, when President Trump announced that it was a ‘GREAT TIME TO BUY’ into the stock market,” the senators wrote in a scathing letter.

    Sens. Adam Schiff (D-CA), Ron Wyden (D-OR), Mark Kelly (D-AZ), and Ruben Gallego (D-AZ) also signed the letter, which slammed Trump for urging his social media followers to buy stocks “just hours before he announced a 90-day pause on his recently announced tariffs, leading to a historic market rally after days of dramatic market declines.”

    “THIS IS A GREAT TIME TO BUY!!!” Trump wrote on Truth Social at 9:37 am just ahead of his announcement that he would pause additional tariff increases on 75 countries for 90 days while slapping even higher levies on China.

    The letter was addressed to SEC Commissioner Paul Atkins, a Trump appointee, who was confirmed by the Senate on Thursday.

    “It is unclear which officials and affiliates for President Trump had advance knowledge of his plans to delay tariffs — but insiders may have known that he was going to announce a tariff pause and that the market would improve,” argued the Senators.

    Mike Johnson Urges Trump Administration To Bring Iran War To A Close

    By
    Patrick Houck
    -
    1
    Gage Skidmore from Surprise, AZ, United States of America, CC BY-SA 2.0 , via Wikimedia Commons

    For months, Republican leaders have defended President Donald Trump’s campaign against Iran. Now one of Trump’s closest allies on Capitol Hill is publicly delivering another message: it’s time to finish the job and come home.

    House Speaker Mike Johnson on Tuesday called on the administration to wrap up the war, arguing that the United States has already achieved its primary military objectives and should avoid allowing the conflict to become another prolonged American intervention.

    ‘We’ve got to wrap it up’

    Speaking to reporters at the Capitol, Johnson was asked whether Congress might eventually step in to limit Trump’s war powers if the fighting continued.

    Rather than entertain that possibility, the speaker predicted the campaign was nearing its conclusion.

    “I think we’re wrapping it up,” Johnson said. “We’ve got to wrap it up.”

    He cautioned that allowing the conflict to drag on would be damaging not only for the United States but for the broader international community.

    “That would be a disaster for everybody,” he said. “Everybody around the world understands that.”

    WATCH:

    Backing the war, but not an endless one

    Johnson’s comments were notable because they stopped well short of criticizing Trump’s decision to launch the operation.

    Instead, the speaker reaffirmed his longstanding position that military action was necessary to halt Iran’s nuclear and missile ambitions. He has also opposed bipartisan efforts to curb the president’s authority while American troops remain in combat.

    The message was clear: support the mission, but don’t let it become another endless war.

    The costs continue to rise

    Johnson’s remarks come as the political and financial costs of the conflict continue to grow.

    According to Pentagon estimates, the war has already cost roughly $37.5 billion. At least 17 American service members have been killed and more than 100 wounded. The administration is now asking Congress for another $87.6 billion to continue military operations.

    Trump has shown little sign of easing public pressure on Tehran, warning that significantly heavier military action remains on the table if Iran refuses to meet U.S. demands.

    A shift in Republican messaging

    Johnson’s comments reflect a subtle but important shift inside the Republican Party.

    Few Republican leaders are openly questioning the decision to go to war. Increasingly, however, they are signaling that recent military gains should be followed by an effort to end the conflict rather than allow it to become an open-ended U.S. military commitment.

    That balancing act is likely to become more difficult as casualties mount, costs rise, and public support for the conflict continues to erode.

    READ NEXT: Why Is Security Still At McConnell’s Hospital?

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    Trump Indicates Plan To Lower or Eliminate Income Taxes Thanks To Tariffs

    By
    Madeleine Jackson
    -
    3

    This could be huge…

    President Donald Trump said that some people’s income taxes will be lowered or perhaps even completely eliminated due to tariffs.

    “When Tariffs cut in, many people’s Income Taxes will be substantially reduced, maybe even completely eliminated. Focus will be on people making less than $200,000 a year,” he declared in a post on Truth Social.

    “Also, massive numbers of jobs are already being created, with new plants and factories currently being built or planned. It will be a BONANZA FOR AMERICA!!! THE EXTERNAL REVENUE SERVICE IS HAPPENING!!!” the president added.

    The president touched on the subjects of income taxes and tariffs while addressing reporters on Sunday.

    “And eventually we’ll be reducing taxes very substantially for the people of our country, because the money is so great coming in from tariffs that I’ll be able to reduce taxes … to a very large extent, and maybe almost completely,” he said.

    “And it’s possible we’ll do a complete tax cut, because I think the tariffs will be enough to cut all of the income tax,” he noted. 

    The president indicated Americans will be given “a tremendous tax cut,” starting “with people making less than $200,000 dollars a year.”

    Trump, who has been in the Oval Office for nearly 100 days, has moved at breakneck speed to revitalize America.

    Speaker Mike Johnson (R-La.) told Fox News exclusively that President Donald Trump has accomplished more in the first 100 days of his tenure than “most politicians or presidents accomplish in their entire lifetimes.”

    “So much of what we’ve done is leading up to the big reconciliation bill, and that is the legislative vehicle, as I’ve explained to people, it will help us, through which we will deliver the president’s America First agenda,” Johnson told Fox News Digital.

    “We’ve done it with arguably the smallest margin in the history of the Congress, so challenges every day, but it’s been very rewarding to lead us through that.”

     The speaker also acknowledged that Trump has acted quite a bit on his own, as well.

    “He’s issued, I think, 110 executive orders and many other executive actions. And we’ve been working to codify so much of that. It’s been kind of a partnership,” Johnson said.

    “I don’t think we’ve ceded any authority. I think that he’s doing what is within his scope to do. There’s an assumption made by Congress that the administration, whoever is in the administration, will use the money that is appropriated to the executive branch as a good steward, that they will take every measure possible to prevent fraud, waste and abuse,” Johnson said. 

    “And tariffs as well – the president, whomever is president, has a responsibility and I think an expectation from Congress that they will deal with unfair trade partners around the globe.”

    However, while many conservatives have praised Trump’s recent accomplishments, many Democrats have openly decried the moves and spurred concerns they will seek to impeach Trump if they regain control of Congress.

    CNN host Dana Bash recently asked Senate Minority Leader Chuck Schumer if he agreed with Sen. Jon Ossoff (D-Ga.) who signaled recently that he would support an impeachment effort against Trump.

    “Would that be a priority if Democrats were to take back Congress?” Bash asked. 

    “President Trump is violating rule of law in every way. And we’re fighting him every single day in every way. And our goal is to show the American people over and over again, whether it’s the economy, whether it’s tariffs, whether it’s Russia and overseas and whether it’s rule of law, how bad he is. And you know, two years is too far away to predict. Our job is day to day to day, to show who Trump is, what he is doing, and it’s having an effect,” Schumer said.

    Bash pressed him further and said, “You’re not saying ‘no.’”

    “Look, it’s too far away to even judge,” Schumer responded.

    Ossoff signaled support for impeaching Trump during a town hall event in Georgia.

    “I saw just 48 hours ago, [Trump] is granting audiences to people who buy his meme coin,” Ossoff said. “There is no question that that rises to the level of an impeachable offense. And the reality is that that’s just one of many [examples] — defying a federal court order, for example.”

    Trump Plans To Capitalize On Schumer Shutdown With Plan To Axe Federal Agencies

    By
    Madeleine Jackson
    -
    5

    President Donald Trump announced he is scheduled to meet with Russ Vought, director of the Office of Management and Budget, to discuss which parts of the government he recommends cutting amid the Schumer Shutdown.

    “I have a meeting today with Russ Vought, he of PROJECT 2025 Fame, to determine which of the many Democrat Agencies, most of which are a political SCAM, he recommends to be cut, and whether or not those cuts will be temporary or permanent,” the president wrote on Truth Social Thursday morning.

    “I can’t believe the Radical Left Democrats gave me this unprecedented opportunity,” he continued. “They are not stupid people, so maybe this is their way of wanting to, quietly and quickly, MAKE AMERICA GREAT AGAIN!” 

    Trump Warns of Necessary Cuts as Shutdown Looms

    President Trump said Tuesday that while he would prefer to avoid a government shutdown, it could provide an opportunity to continue his mission of restoring fiscal sanity in Washington and eliminating wasteful spending.

    “We don’t want it to shut down because we have the greatest economy and investment environment ever,” Trump said from the Oval Office. “We’ve got $17 trillion being invested in this country right now. So the last person who wants a shutdown is us.”

    “But with that being said,” he continued, “a shutdown allows us to make reforms that are otherwise impossible — cutting bloated programs, trimming the fat, and removing layers of bureaucracy that serve no one but Washington insiders.”

    A government funding lapse doesn’t give the president new powers, but it does shift discretion to the White House and the Office of Management and Budget (OMB) to determine which programs must continue and which can pause. The Antideficiency Act requires agencies to halt nonessential spending when Congress fails to pass appropriations, while preserving core constitutional and national security functions.

    Trump praised OMB Director Russell Vought for his leadership on budget discipline. “Russell Vought has been very popular lately because he knows how to bring the budget under control in ways Congress never would,” Trump said. “Shutdowns have risk for Democrats too — because during them, we can finally cut things they love to spend on, things that waste taxpayer dollars, and no one can reverse it.”

    Later that day, Trump reiterated that he wants a deal but will not ignore the chance to protect taxpayers if Democrats refuse to negotiate responsibly. “A lot of good can come from this,” he said. “We can finally weed out overspending and save Americans’ hard-earned money.”

    Vought, in a memo Tuesday evening, declared that a shutdown appeared unavoidable because of what he called “Democrats’ insane policy demands, including $1 trillion in new spending.” He told federal employees to prepare for an orderly pause in operations.

    Vice President JD Vance: Focus on Essential Services

    On Wednesday, Vice President JD Vance joined the White House press briefing to emphasize that while the administration expects the shutdown to be brief, some workforce reductions are unavoidable.

    “We’re going to have to make things work,” Vance said. “That means prioritizing essential functions and, unfortunately, letting go of some nonessential positions. Our goal is to make sure the American people feel as little pain as possible.”

    Vance pushed back on criticism that the administration is using the shutdown for partisan targeting: “We’re not going after agencies because of politics. We’re trying to keep critical services running, even when Democrats refuse to fund the government responsibly.”

    The Drive to Make Government Leaner

    These measures are part of Trump’s larger effort to make the federal government lean, accountable, and responsive to voters — not entrenched bureaucrats. In January, the administration offered voluntary buyouts for employees ready to step aside and avoid deeper cuts. Those were followed by reduction-in-force (RIF) plans across agencies with low performance or duplication of services.

    In his March address to Congress, Trump pledged to “reclaim power from unaccountable bureaucracy and return it to the American people.”

    “Any federal bureaucrat who resists this change will be removed from office,” Trump said. “We’re draining the swamp. The days of rule by unelected bureaucrats are over.”

    DOGE and the Push Against Waste

    Central to this reform is the Department of Government Efficiency (DOGE), created to root out waste, fraud, and abuse. Tech entrepreneur Elon Musk was tapped to lead DOGE’s oversight efforts — leveraging innovation and private-sector discipline to expose costly, ineffective programs.

    DOGE has flagged millions in questionable foreign aid and pet projects that have little to do with serving Americans, including:

    • $25 million for “biodiversity and socially responsible behavior” in Colombia
    • $40 million to “improve the social and economic inclusion of sedentary migrants”
    • $42 million for “social and behavior change” initiatives in Uganda
    • $10 million for circumcision programs in Mozambique

    “Why are we paying for these things abroad when our own border is wide open and Americans are struggling?” Trump asked at CPAC, highlighting the findings.

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    Trump Backs Off Powell Firing Talk As Markets Rally

    By
    Patrick Houck
    -
    0
    The White House, Public domain, via Wikimedia Commons

    President Donald Trump made clear he has “no intention” of dismissing Federal Reserve Chair Jerome Powell, despite recent public criticisms that had unsettled financial markets. Tuesday’s clarification comes after Trump had labeled Powell a “major loser” and suggested his “termination cannot come fast enough.”

    The president’s assurance appeared to calm investor fears about the central bank’s independence, triggering a significant market rebound Tuesday that extended into Wednesday morning.

    The S&P 500 rose by 3%, and the Nasdaq increased by 3.7%, reflecting investor relief over the reduced likelihood of political interference with the Federal Reserve. European markets also responded positively, with the Stoxx Europe 600 up 1.9% and Germany’s DAX gaining 2.8%.

    Despite the president’s recent criticisms, including calls for more aggressive interest rate cuts, Trump emphasized that he never intended to remove Powell from his position. He expressed a desire for the Fed to act more decisively in lowering interest rates but acknowledged Powell’s role would continue until his term concludes in May 2026.

    “I would like to see him be a little more active in terms of his idea to lower interest rates…but, no, I have no intention to fire him,” Trump told reporters in the Oval Office, according to a report from The Wall Street Journal:

    U.S. stock futures and the dollar rallied following Trump’s remarks. Gold futures dropped, pulling back from record highs.

    Trump’s softer tone on Powell came after he lashed out at the Fed chair, writing on social media last week, “Powell’s termination cannot come fast enough!”

    But on Tuesday, Trump played down recent comments by Kevin Hassett, the director of the National Economic Council, that the administration was studying whether the president could fire Powell.

    “This is a perfect time to lower interest rates. If he doesn’t, is it the end? No. It’s not,” Trump said.

    Trump also addressed trade policy, signaling that tariffs on Chinese goods — currently set at 145% — could be “substantially” reduced, though not fully eliminated. The hint at a possible easing of trade tensions, combined with his reaffirmation of the Fed’s independence, fueled the global market rebound. (RELATED: Trump Softens Tariff Stance On China)

    While the immediate market reaction has been positive, analysts warn that ongoing tensions between the Trump administration and the Federal Reserve — along with the prospect of slow-moving trade negotiations between the world’s two largest economies — could continue to weigh on financial markets in the weeks and months ahead.

    READ NEXT: Jury Issues Decisive Verdict In Onetime Republican Star’s Years-Long Legal Battle

    Canada Threatens To Retaliate Against U.S. If Trump Admin. Imposes Sweeping Tariff

    By
    Madeleine Jackson
    -
    6

    The premier of a critical region in Canada is threatening to cut off energy and critical oil exports to the U.S. if President-elect Donald Trump implements a tariff on all Canadian products. 

    Trump recently threatened a 25% tariff on all Canadian and Mexican exports in an effort to stop the flow of illegal immigration and drugs coming into the U.S.

    Doug Ford, the premier of Ontario, said that he would consider retaliatory measures against the U.S. if the incoming president acted on his promise.

    “We will go to the extent of cutting off their energy – going down to Michigan, going down to New York State and over to Wisconsin,” Ford, who represents a region known for its crude oil production, told reporters. 

    The premier added that other officials in the country are reportedly identifying ways they can hurt U.S. exports if Trump enacts a tariff.

    “Some premiers proactively identified products that their provinces produce and export to the United States and which the U.S. relies on, and which should be considered as part of the Canadian response. This included some critical minerals and metals,” Ford said.

    “Canadians get hurt, but I can assure you one thing: the Americans are going to feel the pain as well, and isn’t that unfortunate?” Ford said.

    Trump has responded to the threats, saying “that’s okay if he does that.”

    “The United States is subsidizing Canada, and we shouldn’t have to do that,” Trump told CNBC at the New York Stock Exchange on Thursday. “And we have a great relationship. I have so many friends in Canada, but we shouldn’t have to subsidize a country.”

    However, a Canadian political science professor noted Ford might not be able to unilaterally cut off the province’s energy supply to the U.S.

    “I do not believe Ontario could unilaterally stop electricity exports to the U.S. without Ottawa’s approval. Similarly, Michigan cannot unilaterally stop the flow of western Canadian natural gas to eastern Canada without Washington’s approval,” University of Toronto political science Professor Nelson Wiseman told Now Toronto in response to Ford’s retaliatory threat.

    Trump Says U.S. May ‘Almost Completely’ Scrap Income Tax Due to Tariff Revenue

    By
    Madeleine Jackson
    -
    2
    President Donald Trump holds a press conference with Attorney General Pam Bondi and Deputy Attorney General Todd Blanche in the James S. Brady Press Briefing Room on Friday, June 27, 2025. (Official White House Photo by Molly Riley)

    President Donald Trump late Thursday said that the United States may “almost completely” eliminate the income tax due to the rising tariff revenue.

    “In the next couple of years, I think we’ll substantially be cutting, or maybe cutting out completely, but we’ll be cutting income tax,” Trump said during an event on Thursday.

    “Could be almost completely cutting it because the money we’re taking in is going to be so large,” he added.

    The Congressional Budget Office (CBO) in June projected that the tariff increases will reduce the federal deficit by $2.8 trillion over the next decade.

    Breitbart News reports:

    The tariff estimate covers measures implemented between January 6 and May 13, 2025. These include a 30 percent levy on imports from China and Hong Kong, 25 percent duties on autos, auto parts, steel, and aluminum, a 10 percent general tariff on most other imports, and the elimination of duty-free treatment for low-value Chinese shipments.

    CBO estimates that, before accounting for economic side effects, the new tariffs will reduce primary deficits by $2.5 trillion and cut interest payments by another $500 billion, for a total deficit reduction of $3.0 trillion. After factoring in modest economic drag — slightly lower GDP and temporarily higher inflation — the net deficit reduction is pegged at $2.8 trillion.

    Watch:

    Earlier in November, Commerce Secretary Howard Lutnick said that Trump is proposing a tariff dividend check so that Americans understand the impact of Trump’s tariff policies.

    “Well, look, the President wants to make sure the American people understand that the tariffs are there for their benefit, right? That it’s — yes, it’s going to drive down our deficit. Yes, it’s going to make the country stronger,” Lutnick said on Fox Business Network’s Kudlow show.

    “But he wants the people of America, the American people to appreciate these tariffs, and he knows if he puts money into their pocket and says, ‘Look, this was paid for by the tariffs,’ they’ll better understand how important this is for America. And so, that’s why he’s talking about it.”

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    Trump Says He Aims To Suspend Gas Tax

    By
    Madeleine Jackson
    -
    2

    President Donald Trump said Monday that he supports temporarily suspending the federal gas tax as Americans face soaring fuel prices ahead of the busy Memorial Day travel season.

    “I think it’s a great idea,” Trump said during a phone interview with CBS News. “Yup, we’re going to take off the gas tax for a period of time, and when gas goes down, we’ll let it phase back in.”

    Gas prices have surged more than 50% since the start of the Iran war on Feb. 28, with the national average climbing above $4.52 per gallon on Sunday, according to AAA. Analysts warn prices could remain elevated as tensions in the Middle East continue and Iran blocks access to the Strait of Hormuz, a key global oil shipping route.

    The federal gas tax currently adds 18.4 cents per gallon to gasoline prices and 24.4 cents per gallon to diesel fuel. However, suspending the tax would require approval from Congress and could cost the federal government roughly $500 million per week in lost revenue.

    Several Democrat lawmakers have already introduced legislation aimed at either lowering or temporarily suspending the federal gas tax to provide relief to consumers struggling with higher prices at the pump.

    Revenue generated by the federal gas tax funds the Highway Trust Fund, which supports road construction and repairs, along with other transportation and transit projects across the country.

    The push for relief comes as AAA projects a record-breaking Memorial Day travel weekend. According to the organization, roughly 45 million Americans are expected to travel at least 50 miles from home between May 21 and May 25, slightly surpassing last year’s total.

    Of those travelers, an estimated 39.1 million are expected to drive to their destinations despite fuel prices reaching their highest levels since 2022. AAA also warned drivers to expect the heaviest traffic congestion on May 21 and 22 between 3 p.m. and 6 p.m., as well as during the afternoon of May 25. Sunday is expected to be the lightest travel day of the holiday weekend.

    Meanwhile, about 3.66 million Americans are expected to fly during the holiday period, accounting for roughly 8% of all travelers. AAA noted that round-trip domestic airfare is currently about 6% cheaper than it was last year.

    However, Trump’s idea to pause the federal gas tax faces an uphill climb in Congress.

    While rank-and-file GOP lawmakers are eager to get Trump’s backing on any plan to address cost-of-living concerns in a midterm election year, top Republicans are hesitant to endorse the gas tax idea, according to reporting from The Hill.

    Trump’s proposal for a federal gas tax holiday got some initial enthusiasm Monday, with Sen. Josh Hawley (R-Mo.) and Rep. Anna Paulina Luna (R-Fla.) quickly saying they would introduce legislation to suspend the 18.4-cent-per-gallon federal tax.

    However, Senate Majority Leader John Thune (R-S.D.) pointed out that it supports the Highway Trust Fund, which finances the Interstate Highway System and other surface transportation systems. 

    “The best way to get gas prices to normalize in my view is to get the strait open,” Thune said Monday, referring to the Strait of Hormuz. “We do have a Highway Trust Fund and it does perform an important service in making sure that we’ve got highways and roadways across our country that are serviceable.”

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    Trump Holds ‘Productive’ Call With New Canadian Prime Minister

    By
    Madeleine Jackson
    -
    0

    President Donald Trump said he held an “extremely productive call” with Canadian Prime Minister Mark Carney on Friday. 

    “I just finished speaking with Prime Minister Mark Carney, of Canada. It was an extremely productive call, we agree on many things, and will be meeting immediately after Canada’s upcoming Election to work on elements of Politics, Business, and all other factors, that will end up being great for both the United States of America and Canada,” Trump wrote on his Truth Social account. 

    It was the first time the two leaders have spoken.

    On Thursday, Carney said the “old relationship” with the U.S. “is over” while vowing to engage in a renegotiation over a trade agreement.  

    Carney, 60, won the Liberal leadership this month with 86% of the vote after former Prime Minister Justin Trudeau stepped down.

    In an address to reporters in Ottawa on Thursday, Carney offered a blunt rebuke to the Trump administration as it prepares to slap a 25 percent tariff on foreign car imports — a move the prime minister said won’t go unanswered.

    “The old relationship we had with the United States, based on deepening integration of our economies and tight security and military co-operations, is over,” Carney said.

    He continued: “What exactly the United States does next is unclear. But what is clear is that we, as Canadians, have agency. We have power. We are masters in our own home. We can control our destiny. We can give ourselves much more than any foreign government, including the United States, can ever take away.”

    He added: “We can deal with this crisis best by building our strength right here at home. It will take hard work. It will take steady and focused determination from governments, from businesses, from labour, from Canadians. We will need to dramatically reduce our reliance on the United States. We will need to pivot our trade relationships elsewhere. And we will need to do things previously thought impossible at speeds we haven’t seen in generations.”

    Carney vowed a “broad renegotiation” of Canada’s trade and security ties with the U.S., marking a sharp departure from the conventional diplomacy that has long defined cross-border relations.

    “We will fight back with everything we have to get the best deal for Canada. We will build an independent future for our country, stronger than ever,” Carney said, promising “retaliatory trade actions” designed for “maximum impact in the US and minimum impacts in Canada.”

    Trump Accuses Former House Speaker Of Making ‘Dumbest’ Choice In Years

    By
    Madeleine Jackson
    -
    1
    Photo via Gage Skidmore Flickr

    President-elect Donald Trump blindsided former House Speaker Kevin McCarthy (R-Calif.) on Sunday calling the debt ceiling suspension approved in 2023 as “one of the dumbest political decisions made in years.”

    However, while targeting the former top House GOP lawmaker, Trump leveled the criticism by describing McCarthy as a friend and a good person.

    “The extension of the Debt Ceiling by a previous Speaker of the House, a good man and a friend of mine, from this past September of the Biden Administration, to June of the Trump Administration, will go down as one of the dumbest political decisions made in years. There was no reason to do it – NOTHING WAS GAINED, and we got nothing for it – A major reason why that Speakership was lost. It was Biden’s problem, not ours. Now it becomes ours,” Trump declared in the post. 

    “I call it ‘1929’ because the Democrats don’t care what our Country may be forced into. In fact, they would prefer ‘Depression’ as long as it hurt the Republican Party. The Democrats must be forced to take a vote on this treacherous issue NOW, during the Biden Administration, and not in June. They should be blamed for this potential disaster, not the Republicans!” he added.

    A deal passed by Congress and signed by President Joe Biden last year suspended the debt limit through Jan. 1, 2025, but Trump has been calling for the ceiling to be increased before he takes office. 

    “In June 2023, the Fiscal Responsibility Act of 2023 was enacted, suspending the debt limit through January 1, 2025.  On January 2, 2025, the new debt limit will be established at the amount of outstanding debt subject to the statutory limit at the end of the previous day,” Treasury Sec. Janet Yellen wrote in a recent letter to congressional leaders. “Treasury currently expects to reach the new limit between January 14 and January 23, at which time it will be necessary for Treasury to start taking extraordinary measures. I respectfully urge Congress to act to protect the full faith and credit of the United States.”

    Responding to Trump’s post about McCarthy, Rep. Chip Roy (R-Texas) wrote in a post on X, “Sadly, this bad debt ceiling extension was opposed by only 71 House Republicans 18 months ago (notably opposed by virtually the entire @freedomcaucus).”

    “Democrats did vote on the recent debt ceiling increase proposal on 12/19: 197-2 against it (their price to support is very high – more spending/taxes),” Roy added. “Yes, we can & should address the debt ceiling – thru reconciliation in January with mostly GOP votes – but with real, meaningful spending cuts.”

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