Republican Silliness

This time it includes more than just a few members of the Republican Chaos Caucus. The Senate passed its version of a reconciliation bill that includes a suitable start on tax rate reductions, and the House Republican caucus agrees with that—those reductions are consistent with the earlier House-passed reconciliation bill. However, the Senate’s bill doesn’t include enough spending cuts to suit the House Republicans, and the House Republicans are right on that.

This is where the silliness comes in. A few Republicans, including some from outside the Chaos Caucus, have announced enough “No” votes before the Senate bill comes to the House floor to kill the bill outright. That’s silly.

Instead of just killing the bill, or refusing to take it up at all, the House Republicans and those one or two Progressive-Democrat Representatives capable of reasoned argument should debate the Senate’s reconciliation bill—they’d be the big boys in the room, since the Senate Republicans ducked away from the House’s bill altogether—and then pass the Senate bill amended to include spending cuts acceptable to the House. That would create a House-Senate disagreement in the same bill, which would send the modified bill to the normal House-Senate Conference, wherein the tax rate cuts would be preserved, and badly needed much larger spending cuts could—should—be inserted into a Conference-approved bill for up-or-down majority votes in each house. Likely the much larger spending cuts still would be less than the House so correctly wants, but they’d likely be much larger than the Senate’s going-in proposal.

And, as is the case with budget framework reconciliation bills, it would set the terms of debate for those spending cuts in each appropriation bill. The difference this time, though, would be those much larger spending cuts in the framework would set a much higher floor than heretofore for spending cuts in those dozen appropriation bills.

Bargaining Chips

The People’s Republic of China is avidly intent on keeping its bargaining chips, of which two truly important ones are its TikTok app and its port businesses at each end of the Panama Canal.

What gets lost, even ignored, in this, though, is that bargaining chips have only the value the bargainee assigns to them, not what the holder of the chips claims to be their value. Not a red sou more than that.

TikTok, for instance, can be viewed as utterly without value as a chip to be played: current US law requires it to be shut down entirely and banned from the US unless and until it is sold in toto to an entity not under the control of the PRC. The only thing standing in the way of that way is the law’s provision that the deadline for sale can be moved back if our Federal government deems negotiations for the sale to be making sufficient progress. That’s where things stand under President Donald Trump, and that confers exactly zero value to the app as a PRC chip.

So it is, nearly, with those PRC businesses that are Panama Canal bookends. A BlackRock-led group has concluded a deal to purchase those two port businesses along with a number of others around the world from CK Hutchison Holdings, a PRC-domiciled (Hong Kong) company. The PRC is actively interfering to delay and potentially prevent that deal from coming to fruition. The appropriate response here is for the US to restrict, even block as far as may be, the ability of those two ports to get any business from the US or any other nations. That would deny those ports any value as PRC chips.