Paul Ryan Releases Trillion-Dollar Spending and Tax Bill

Congressional leaders have averted a government shutdown and have set new policies, such as strengthening the visa waiver program, according to Reuters.

Paul Ryan and congressional leaders negotiated a deal that will fund the government until next September. The bills will be up for a vote on Thursday before Congress leaves for the holidays.

The bills negotiated will include tax breaks for wind and solar development and will repeal a ban on oil exports.

According to Reuters, they will also include:

-A $650 billion package extending a series of tax breaks over 10 years, with $560 billion of the total in permanent extensions, including for business research and development. Many Democrats are expected to oppose this measure, saying it costs too much and is too heavily skewed toward corporate interests;

-Changes to a visa waiver program that will tighten travel restrictions on those who have been in Iraq and Syria;

-No “bailout” for Puerto Rico, which is experiencing fiscal difficulties;

-A two-year delay in both a medical device and “Cadillac tax” on high-cost healthcare plans. Rep. Tom Cole said the tax package also would include a one-year delay in a tax on health insurance providers. He said it also extends for another year a provision limiting how much the government can spend on “risk corridors” protecting insurers against financial losses under Obama’s landmark healthcare law.


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