Business Report 10/6/17: Crisis at a Glance

On a party line vote the House passes a $4 trillion budget. It slashes social programs, repealing Obamacare and turning Medicaid into a pile of vouchers.

None of that is actually happening, though. Not yet, anyway.

The way Senate rules work, you need a two-thirds vote to block a filibuster. So as a practical matter who need a two-thirds vote to pass anything controversial.

But one exception is the budget. Budget bills require only a simple majority.

So Republicans want to use this loophole to pass changes to the tax code.

Instead of drafting a tax bill, they'll put the changes inside the budget. But in order to do that they need a budget to pot things inside.

The bill the House passed is the bill in which to insert tax code changes.

Nobody seems to expect the bill to pass the Senate in the form the House passed.

If you're on Medicaid you probably wonder if I can vouch for that.

I'm not a fan of vouchers.

And that's Crisis at a Glance.

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