• Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock
Editor's Pick

Trump budget bill with $4.5T in tax cuts survives key hurdle despite House GOP infighting

by February 14, 2025
written by February 14, 2025

A mammoth bill advancing a broad range of President Donald Trump’s policy goals survived a key hurdle on Thursday, putting Republicans closer to their goal of passing a bill by sometime in May.

The legislation passed the House Budget Committee on a party-line 21 to 16 vote and is expected to be taken up by the entire chamber for a floor vote later this month.

It comes despite eleventh-hour negotiations that had the bill’s eventual passage in question even as the committee met to discuss the text on Thursday morning.

The 45-page resolution directs various House committees to find a sum of at least $1.5 trillion in spending cuts, with $300 billion in new spending allocated toward the border, national defense and the judiciary. 

It also directs $4 trillion toward raising the debt limit, and it includes $4.5 trillion to extend Trump’s 2017 Tax Cuts and Jobs Act (TCJA) and other tax provisions pushed by the president for the next 10 years.

House and Senate Republicans are aiming to use the budget reconciliation process to pass a broad range of Trump policy goals, from border security to eliminating taxes on tipped and overtime wages.

By lowering the threshold for passage in the Senate from two-thirds to a simple majority, it will allow the GOP to use their razor-thin majorities to get legislation signed into law with zero Democratic support, provided the measures included relate to the budget and other fiscal matters.

Conservative spending hawks on the House Budget Committee had demanded assurances that Republicans would seek to cut spending as deeply as possible in the reconciliation process, particularly to offset new spending on Trump’s tax priorities.

House Budget Chairman Jodey Arrington, R-Texas, told reporters early Thursday afternoon that committee Republicans came to an agreement on an amendment that would win over holdouts, however.

The proposal would mandate a corresponding reduction in the $4.5 trillion tax allocation if Republicans failed to cut at least $2 trillion in spending elsewhere.

Conversely, if spending cuts exceeded $2 trillion, it would increase the amount of money directed toward tax cuts by the same amount.

‘The amendment that will come up is a good amendment,’ Rep. Ralph Norman, R-S.C., a Budget Committee fiscal hawk who had issues with the original text, told Fox News Digital. ‘It’s common sense. It’s doing what we said we’d be doing.’

The House advanced its proposal after being forced to punt the committee vote last week in the face of disagreements over where to set the baseline floor for spending cuts.

Senate Republicans advanced their own plan in the meantime, passing a narrower bill on Wednesday night that included new funding for the border and defense but would leave Trump’s tax cuts for a second package.

Speaker Mike Johnson, R-La., called that bill a ‘nonstarter’ in the House.

But while the House’s bill passed a critical test on Thursday, it’s just the first step in a long process.

Passing a budget resolution then sends instructions to other committees to seek cuts and policy changes in their respective jurisdictions, before those proposals are added back to one large bill.

The House and Senate must also agree on a compromise between their two versions and pass identical pieces of legislation before they can be sent to Trump’s desk.

Republicans have a three seat majority in the Senate and a one seat majority in the House, meaning they can afford precious little dissent among themselves to pass a final bill.

This post appeared first on FOX NEWS
0 comment
0
FacebookTwitterPinterestEmail

previous post
Elon Musk presents Indian PM Modi with a Starship heatshield tile from space
next post
How Saudi Arabia’s crown prince became a central player in US-brokered peace talks between Russia and Ukraine

related articles

DHS scorches Pritzker’s ‘sanctuary’ state after child rapist...

May 1, 2026

Socialist mayor’s blunt 1-word message to fleeing millionaires...

May 1, 2026

DC police captain cites bodycam footage of officers...

May 1, 2026

Amazon explores ‘The Apprentice’ reboot with Trump Jr...

May 1, 2026

MN governor race to replace Walz sees major...

May 1, 2026

Trump’s apocalyptic Iran warning raises stakes for sweeping...

April 7, 2026

Graham eyes ‘down payment’ on Trump-backed SAVE Act...

April 7, 2026

Democrat whose parents fled Iran moves to oust...

April 7, 2026

Midterm alarm bells: Democrats face steep favorability deficit...

April 7, 2026

American journalist kidnapped in Iraq is set free,...

April 7, 2026
Enter Your Information Below To Receive Free Trading Ideas, Latest News, And Articles.


Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest News

  • Ex-Pelosi aide accuses Hakeem Jeffries of ‘squandering’ anti-Trump opportunities in stunning rebuke

    May 2, 2025
  • Iran hiding missile, drone programs under guise of commercial front to evade sanctions

    November 21, 2024
  • House GOP urges Trump to choke off Iran ally’s oil profits as Middle East turmoil spikes US gas prices

    March 13, 2026
  • Vance visits US troops during high-stakes UK trip ahead of Trump’s Putin meeting

    August 13, 2025
  • Ardently pro-Israel Dem Sen John Fetterman congratulates Trump for ‘historic peace plan’

    October 9, 2025

Popular Posts

  • 1

    District judges’ orders blocking Trump agenda face hearing in top Senate committee

    April 2, 2025
  • 2

    Secret Service admits leaning on ‘state and local partners’ after claim it ignored Trump team’s past requests

    July 21, 2024
  • 3

    Five more House Democrats call on Biden to drop out, third US senator

    July 19, 2024
  • 4

    CoreWeave eyes $1.5B bond raise to ease debt load following lacklustre IPO: report

    May 9, 2025
  • 5

    Forex Profit Calculator: Maximize Your Trading Potential

    July 10, 2024

Categories

  • Economy (829)
  • Editor's Pick (8,507)
  • Investing (2,559)
  • Stock (1,028)

Latest Posts

  • EURUSD AND GBPUSD: EURUSD is holding steady above

    August 12, 2024
  • Nvidia stock hits new all-time high: should you buy or take profits?

    May 8, 2026
  • Iran beware: US moves these 6 top of the line strike options into position in the Middle East

    August 12, 2024

Recent Posts

  • Leavitt says Trump chooses diplomacy first for Iran, but remains ‘willing to use’ lethal force if necessary

    February 24, 2026
  • Iran is ‘increasingly aggressive’ in its operations to target US presidential campaigns: Intel community

    August 20, 2024
  • Gold Price Surge Hits $3,385 Amid Trade Tensions

    April 21, 2025

Editor’s Pick

  • SEN LINDSEY GRAHAM: Comey’s FBI investigated me and 8 colleagues in anti-Trump crusade

    October 22, 2025
  • EURUSD and GBPUSD: the pound drops to a weekly low

    August 30, 2024
  • Two ‘must-own’ stocks as IEA flags nuclear boost amid energy crisis

    April 28, 2026
  • About us
  • Contacts
  • Privacy Policy
  • Terms & Conditions

Disclaimer: moneyrisetoday.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2025 moneyrisetoday.com | All Rights Reserved

Money Rise Today – Investing and Stock News
  • Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock