Under the bill, the existing pause in student loan repayments would end"sixty days after June 30, 2023" — that's August 29, 2023. Income-driven repayment plans would remain in place.. Oral arguments were heard in that case in February 2023, and an opinion is expected soon.TANF, or Temporary Assistance to Needy Families, is a federal program that assists states and territories with providing cash and services to low-income families with children.
The bill also makes it harder for states to waive SNAP work requirements by lowering the number of exemptions a state can issue and limiting the right to carry over unused exemptions.When it comes to veterans, the bill largely mirrors Biden's proposed 2024 budget, including a fund dedicated to veterans who have been exposed to toxic substances or environmental hazards. Otherwise, the bill protects pandemic funding for medical care and housing assistance for veteran care.
Interestingly, these incredibly detailed provisions take up the most significant chunk of the bill—nearly 27 pages.Included in the bill was the text,"Of the unobligated balances of amounts appropriated or otherwise made available for activities of the Internal Revenue Service … as of the date of the enactment of this Act, $1,389,525,000 are hereby rescinded." So, that's about $1.
It is worth noting that according to a White House press call and reports from Republican House leaders, the Biden administration agreed to roughly $20 billion in cuts . That agreement is not explicitly reflected in the bill's text but is expected to be in the final version.House members have at least three days to review a bill before voting. That means that this bill could go to the House floor as soon as Wednesday. If it passes, it would then move to the Senate.
Treasury Secretary Janet Yellen says the U.S. won't have enough money to pay all of its bills unless Congress acts to raise the debt ceiling by June 5—that's next Monday. If that happened, it would trigger the country's first-ever default.
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Source: CNBC - 🏆 12. / 72 Read more »