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

Trump tax cut plan hits turbulence ahead of House vote as Republicans split

by February 24, 2025
written by February 24, 2025

A massive piece of legislation that House Republicans hope will advance a broad swath of President Donald Trump’s agenda is facing its final hurdle on Monday before a chamber-wide vote.

The House Rules Committee, the final gatekeepers for most bills before a House floor vote, is meeting to debate a measure that GOP leaders want to have on Trump’s desk by sometime in May.

The bill aims to increase spending on border security, the judiciary and defense by roughly $300 billion, while seeking at least $1.5 trillion to $2 trillion in spending cuts elsewhere.

As written, the bill also provides $4.5 trillion to extend Trump’s 2017 Tax Cuts and Jobs Act (TCJA) provisions, which expire at the end of this year.

It comes after the Senate held an all-night session to advance its own version of the Trump plan last week. In the Senate Republicans’ budget plan, the first reconciliation bill includes Trump’s priorities for border security, energy and national defense, while the second bill, to be drawn up later in the year, would focus on extending Trump’s tax policies from TCJA.

Since the commander in chief has already telegraphed his preference for House Republicans’ proposal, the Senate bill has been relegated to a de facto backup plan if the House is not able to pass its own. This much was relayed to senators by Vice President JD Vance last week as he gave them the White House’s blessing to push their bill forward, a source told Fox News Digital. 

Current margins dictate House Republicans can only lose one vote to still pass a bill without Democratic support.

Rep. Victoria Spartz, R-Ind., wrote on X Sunday night that she was against the bill as written.

‘Why I am a NO on the current version of the house budget instructions – I have a TRILLION DOLLAR QUESTION – where is the money – $1T? Interesting FACT: roughly 85% of spending is not ever even looked at by Congress – convenient if you would like to hide waste, fraud and abuse,’ Spartz announced.

Other Republicans have expressed concerns over the $880 billion in spending cuts under the Energy & Commerce Committee, which many have taken to mean at least some cuts to federal programs like Medicaid.

The House version of the bill differs from the Senate in that the latter version does not include funding for Trump’s tax cuts. Senate GOP leaders argue that splitting Trump’s priorities into two bills will allow the party to secure early victories on the border and defense, places where there is more agreement within the conference.

However, House Republican leaders contend that Republicans have not passed two reconciliation bills since the 1990s and under far more favorable margins.

Both chambers are contending with razor-thin margins and an ideologically diverse Republican conference as they look to make major conservative policy changes via the budget reconciliation process this year. 

By leveling thresholds for passage in the House and Senate at a simple majority, reconciliation allows the party in power to pass fiscal legislation without any support from the opposing side. The Senate has a two-thirds majority threshold to advance most measures.

It is not clear, however, whether Trump’s support for the House plan will be enough to get it over the line. 

This post appeared first on FOX NEWS
0 comment
0
FacebookTwitterPinterestEmail

previous post
Starbucks to lay off 1,100 corporate workers as sales sag
next post
‘Overwhelmingly popular’: Elon Musk touts Americans’ DOGE support

related articles

The new map that could be guiding Trump’s...

June 20, 2025

‘No basis in reality’: Expert turns tables on...

June 20, 2025

Trump’s unpredictable Middle East moves actually follow a...

June 20, 2025

Iran talks with Europeans set for Friday; White...

June 20, 2025

Kurilla warfare: Meet the general leading US military...

June 19, 2025

US Ambassador to Israel Mike Huckabee indicates US...

June 19, 2025

US troops in the Middle East could face...

June 19, 2025

Mystery flights from China to Iran raise questions...

June 19, 2025

Israel’s ‘resounding’ military campaign against Iran could be...

June 19, 2025

Trump to make Iran decision ‘within the next...

June 19, 2025
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

  • Hamas to free another American in Saturday hostage release

    February 14, 2025
  • Walz ripped for ‘sickening’ use of Nazi-era language describing Trump’s immigration policy: ‘Anti-American’

    May 19, 2025
  • Trump allies scrutinize Judge Boasberg’s DC connections as high-stakes legal battles escalate

    April 1, 2025
  • Fox News reporter asks White House who gets called after 8 p.m. if nuke is launched at US

    July 10, 2024
  • Kamala Harris offers vague ‘Day 1’ Oval Office plan in CNN interview: ‘A number of things’

    August 30, 2024

Popular Posts

  • 1

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

    July 21, 2024
  • 2

    Elon and Vivek should tackle US funding for this boondoogle organization and score a multimillion dollar win

    December 4, 2024
  • 3

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

    July 19, 2024
  • 4

    Forex Profit Calculator: Maximize Your Trading Potential

    July 10, 2024
  • 5

    Biden calls to ‘lower the temperature’ then bashes Trump in NAACP speech

    July 17, 2024

Categories

  • Economy (829)
  • Editor's Pick (5,008)
  • Investing (634)
  • Stock (809)

Latest Posts

  • JPMorgan creates new role overseeing junior bankers as Wall Street wrestles with workload concerns

    September 19, 2024
  • The Hitchhiker’s Guide to how the VP debate is sometimes more memorable than the presidential debates

    September 30, 2024
  • Tesla achieves record China sales, but faces a tougher road ahead

    January 6, 2025

Recent Posts

  • Trump says China agrees to ‘fully’ open country’s markets to US businesses

    May 12, 2025
  • GOP veteran-lawmakers drop scathing ‘stolen valor’ letter to Walz as Trump camp rips ‘Freakish Timothy’

    August 22, 2024
  • Mutiny threat sparks House GOP infighting ahead of Trump visit: ‘Just more stupid’

    November 13, 2024

Editor’s Pick

  • Trump official travels to Venezuela to negotiate deal for deporting Tren de Aragua gang members

    January 31, 2025
  • Dogecoin and Shiba Inu: Doge tries to be stable at 0,12500

    July 17, 2024
  • China launches intercontinental ballistic missile into Pacific hours after Biden’s UN address

    September 25, 2024
  • 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