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The House Budget Committee passed President Donald Trump's tax-cut legislation in a 17-16 vote on Sunday night, with four Republican conservatives voting "present" after initially blocking the bill on Friday over concerns about spending cuts and deficit impacts.

Washington Post

Al Jazeera

The House Budget Committee passed President Donald Trump's tax-cut legislation in a 17-16 vote on Sunday night, with four Republican conservatives voting "present" after initially blocking the bill on Friday over concerns about spending cuts and deficit impacts.

The "big, beautiful" legislation would extend Trump's 2017 tax cuts, provide tax relief to Social Security recipients, eliminate taxes on tips and overtime income, boost defense spending, and implement Medicaid work requirements.

The White House

The "big, beautiful" legislation would extend Trump's 2017 tax cuts, provide tax relief to Social Security recipients, eliminate taxes on tips and overtime income, boost defense spending, and implement Medicaid work requirements.

House Speaker Mike Johnson secured the advancement after negotiating with conservative Republicans who demanded accelerated implementation of Medicaid work requirements and faster elimination of green energy tax credits from the Inflation Reduction Act.

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House Speaker Mike Johnson secured the advancement after negotiating with conservative Republicans who demanded accelerated implementation of Medicaid work requirements and faster elimination of green energy tax credits from the Inflation Reduction Act.

The bill faces additional hurdles from moderate Republicans seeking higher state and local tax deduction caps and expressing concerns about Medicaid cuts that would affect 8.6 million recipients.

The Hill

USA Today

The bill faces additional hurdles from moderate Republicans seeking higher state and local tax deduction caps and expressing concerns about Medicaid cuts that would affect 8.6 million recipients.

The legislation must still clear the House Rules Committee before a full House vote, which Johnson aims to achieve before Memorial Day. After that, it faces additional challenges in the Senate, where Republicans have signaled likely modifications.

New York Times

The legislation must still clear the House Rules Committee before a full House vote, which Johnson aims to achieve before Memorial Day. After that, it faces additional challenges in the Senate, where Republicans have signaled likely modifications.

This comes after credit rating agency Moody's cited rising debt projections, expected to reach 134% of GDP by 2035, in its decision to downgrade the U.S. credit rating on Friday.

This comes after credit rating agency Moody's cited rising debt projections, expected to reach 134% of GDP by 2035, in its decision to downgrade the U.S. credit rating on Friday.

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The legislation would extend Trump's 2017 tax cuts, eliminate taxes on tips and overtime income, boost defense spending, and implement Medicaid work requirements, with nonpartisan analysts projecting it would add $3-5 trillion to the nation's $36.2 trillion debt over the next decade.</span

Al Jazeera #

NBC #

The legislation would extend Trump's 2017 tax cuts, eliminate taxes on tips and overtime income, boost defense spending, and implement Medicaid work requirements, with nonpartisan analysts projecting it would add $3-5 trillion to the nation's $36.2 trillion debt over the next decade.

House Speaker Mike Johnson secured the advancement after negotiating with conservative holdouts who demanded accelerated implementation of Medicaid work requirements and faster elimination of green energy tax credits from the Inflation Reduction Act.</span

New York Post #

House Speaker Mike Johnson secured the advancement after negotiating with conservative holdouts who demanded accelerated implementation of Medicaid work requirements and faster elimination of green energy tax credits from the Inflation Reduction Act.

The bill faces additional hurdles from moderate Republicans seeking higher state and local tax deduction caps and expressing concerns about Medicaid cuts that would affect 8.6 million recipients.</span

The Hill #

USA Today #

Credit rating agency Moody's cited rising debt projections, expected to reach 134% of GDP by 2035, in its decision to downgrade the U.S. credit rating, marking the third major agency to do so.</span

Credit rating agency Moody's cited rising debt projections, expected to reach 134% of GDP by 2035, in its decision to downgrade the U.S. credit rating, marking the third major agency to do so.

The legislation must still clear the House Rules Committee before a full House vote, which Johnson aims to achieve before Memorial Day, after which it faces additional challenges in the Senate where Republicans have signaled likely modifications.</span

New York Times #

The legislation must still clear the House Rules Committee before a full House vote, which Johnson aims to achieve before Memorial Day, after which it faces additional challenges in the Senate where Republicans have signaled likely modifications.

This reckless legislation would explode the national debt, strip healthcare from millions of vulnerable Americans, and trigger economic instability as evidenced by unprecedented credit rating downgrades. The bill prioritizes tax cuts for the wealthy while making devastating cuts to critical safety net programs that middle-class families depend on.

This reckless legislation would explode the national debt, strip healthcare from millions of vulnerable Americans, and trigger economic instability as evidenced by unprecedented credit rating downgrades. The bill prioritizes tax cuts for the wealthy while making devastating cuts to critical safety net programs that middle-class families depend on.

House Republicans Advance Trumps Big, Beautiful Bill

Trump tax bill passes in key US House committee vote

Trump's Tax Bill Advances After Late-Night Budget Vote

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The tax cuts and spending package is a crucial opportunity to deliver meaningful relief to hardworking Americans while implementing necessary reforms to welfare programs. The legislation will spur sufficient economic growth to offset debt concerns, strengthen border security, and eliminate burdensome taxes on tips and overtime pay that hurt working families.

The tax cuts and spending package is a crucial opportunity to deliver meaningful relief to hardworking Americans while implementing necessary reforms to welfare programs. The legislation will spur sufficient economic growth to offset debt concerns, strengthen border security, and eliminate burdensome taxes on tips and overtime pay that hurt working families.

WhiteHouse

This reckless legislation would explode the national debt, strip healthcare from millions of vulnerable Americans, and trigger economic instability, as evidenced by unprecedented credit rating downgrades. The bill prioritizes tax cuts for the wealthy while making devastating cuts to critical safety net programs that middle-class families depend on.

This reckless legislation would explode the national debt, strip healthcare from millions of vulnerable Americans, and trigger economic instability, as evidenced by unprecedented credit rating downgrades. The bill prioritizes tax cuts for the wealthy while making devastating cuts to critical safety net programs that middle-class families depend on.

There's a 50% chance that the U.S. national debt will reach $50 trillion by Nov. 19, 2029, according to the Metaculus prediction community.

There's a 50% chance that the U.S. national debt will reach $50 trillion by Nov. 19, 2029, according to the Metaculus prediction community.

Trump's Tax Bill Advances After Late-Night Budget Vote

Trump's Tax Bill Advances After Late-Night Budget Vote

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Trump's Tax Bill Advances After Late-Night Budget Vote

Trump's Tax Bill Advances After Late-Night Budget Vote

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