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

Trump budget bill extending first-term tax cuts survives House vote

by February 26, 2025
written by February 26, 2025

The House of Representatives has adopted a resolution that will eventually become a massive multi-trillion-dollar bill full of President Donald Trump’s priorities on the border, defense, energy and taxes.

In a major victory for House GOP leaders, the resolution passed in a 217 to 215 vote.

All Democrats voted against the measure, along with lone Republican rebel Rep. Thomas Massie, R-Ky., who was concerned about its effect on the national deficit.

The next step is now for the relevant House committees to meet and build their own proposals, which will eventually be returned into the framework and negotiated into a compromise deal with the Senate.

It was a dramatic scene in the House chamber on Monday night as Republican leaders delayed formally ending a vote for roughly 45 minutes as they worked to convince conservative fiscal hawks to support the legislation.

Impatient Democrats called out loud for the vote to be closed as Republicans huddled in varied groups.

Two people on the House floor told Fox News Digital that President Donald Trump got involved at one point, speaking to one of the holdouts, Rep. Victoria Spartz, R-Ind., by phone.

Reps. Tim Burchett, R-Tenn., and Warren Davidson, R-Ohio, could be seen on the phone at other points on the House floor as well, but it’s not clear if they were speaking with Trump.

At one point, House GOP leaders appeared to lose confidence that they had enough support and abruptly canceled the planned vote. 

Moments later, however, lawmakers on both sides of the aisle were rushing back to the House floor and Fox News Digital was told the vote would be held.

Meanwhile, three House Democrats who had been absent early in the day returned for the Tuesday evening vote in dramatic fashion. 

Rep. Brittany Pettersen, D-Colo., who had a baby roughly a month ago, returned to the House floor with her infant to oppose the bill. And Rep. Kevin Mullin, R-Calif., who was recently hospitalized for an infection, appeared in the chamber aided by a walker.

House and Senate Republicans are aiming to use their majorities to advance Trump’s agenda via the budget reconciliation process. 

It’s a Senate maneuver that lowers the threshold for passage from two-thirds to a simple majority, but it’s used when a party controls both houses of Congress and the White House because it allows that party to pass its policy goals even under the slimmest margins.

And Republicans are dealing with slim margins indeed; with current numbers, the House GOP can afford no more than one defection to pass anything without Democratic votes if all liberals are voting.

On the Senate side, Republicans can lose no more than two of their own in the reconciliation process.

The House resolution aimed 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 House bill also provided $4.5 trillion to extend President Donald Trump’s 2017 Tax Cuts and Jobs Act provisions, which expire at the end of this year.

An amendment negotiated by House Budget Committee Chairman Jodey Arrington, R-Texas, and conservatives on his panel would also force lawmakers to make $2 trillion in cuts, or else risk the $4.5 trillion for Trump’s tax cuts getting reduced by the difference. 

The resolution also fulfilled Trump’s directive to act on the debt limit, raising it by $4 trillion or roughly two years. 

A bipartisan deal struck in 2023 saw the debt limit suspended until January 2025. Now, projections show the U.S. could run out of cash to pay its debts by spring if Congress does not act.

The resolution’s odds were touch and go for much of the week so far, since House lawmakers returned from a week-long recess period Monday.

Several fiscal conservatives had demanded more assurances from House GOP leadership that Republicans would seek deep spending cuts to offset the cost of Trump’s priorities.

Republican lawmakers in more competitive districts are concerned some cuts may go too far, however. 

The resolution directs the House Energy & Commerce Committee to find at least $880 billion in spending cuts – which those lawmakers fear will mean severe cuts for federal programs like Medicaid.

Speaker Mike Johnson, R-La., pushed back against fears of such cuts during his weekly press conference on Tuesday.

‘Medicaid is hugely problematic because it has a lot of fraud, waste and abuse. Everybody knows that. We all know it intuitively. No one in here would disagree,’ Johnson said. ‘What we’re talking about is rooting out the fraud, waste, and abuse. It doesn’t matter what party you’re in, you should be for that because it saves your money, and it preserves the programs so that it is available for the people who desperately need it.’

It was also supported by a wide swath of Republicans, including conservative Rep. Brandon Gill, R-Texas, a member of the House Budget Committee that approved the bill earlier this month.

‘It’s the best bill we’re going to get,’ Gill said while praising Committee Chairman Jodey Arrington, R-Texas, for his efforts. ‘If I were writing it then I’d write it differently, but this is the best we’re gonna get it.’

Rep. Randy Feenstra, R-Iowa, said he was eager to begin working on ‘cutting taxes for Iowans, securing our border, unleashing American energy production, and eliminating waste and fraud in our government.’

This post appeared first on FOX NEWS
0 comment
0
FacebookTwitterPinterestEmail

previous post
iPhone voice recognition controversy: ‘Racist’ converts to ‘Trump’
next post
White House explains bruise on Trump’s hand seen during Macron meeting

related articles

From Biden’s ‘war’ on gas prices to ‘small...

March 13, 2026

US diplomatic facility in Iraq struck by drone

March 13, 2026

171 million travelers face airport delays as Democrats’...

March 13, 2026

From Biden’s ‘war’ on gas prices to ‘small...

March 13, 2026

FDA launches new AI-powered system to track drug...

March 13, 2026

Cornyn reverses on filibuster stance to push Trump’s...

March 13, 2026

DAVID MARCUS: Sen Thune has no idea how...

March 13, 2026

Trump touts 5-0 sweep by endorsed candidates in...

March 13, 2026

US destroys 16 Iranian mine boats as Strait...

March 13, 2026

House GOP urges Trump to choke off Iran...

March 13, 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

  • SCOTUS allows Trump to fire Biden-appointed FTC commissioner

    September 22, 2025
  • First on Fox: Top outside group backing Senate Republicans showcases fundraising haul

    October 15, 2024
  • Barrick Gold outperforms in Q2: Is it a buy with gold near record highs?

    August 12, 2024
  • SafeMoon and Litecoin: LItecoin in sideways consolidation

    August 20, 2024
  • Trump’s US attorneys in blue states face legal challenges that could upend key prosecutions

    October 17, 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

    Forex Profit Calculator: Maximize Your Trading Potential

    July 10, 2024
  • 5

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

    May 9, 2025

Categories

  • Economy (829)
  • Editor's Pick (8,376)
  • Investing (1,189)
  • Stock (981)

Latest Posts

  • Biden family misled public, concealed details on son Beau’s cancer diagnosis, new book says

    May 21, 2025
  • Morning Glory: ABC News and its pass/fail test

    September 10, 2024
  • Airlines secretly sold US travelers’ data to Homeland Security

    July 3, 2025

Recent Posts

  • ‘Stunning and brave’: Dem senator mocked after hyping all-nighter stunt in protest of Trump nominee

    February 7, 2025
  • Trump says Taylor Swift endorsing Harris was ‘just a question of time’

    September 11, 2024
  • Trump-foe Adam Schiff dismisses Tulsi Gabbard’s declassified Russia collusion intelligence as ‘dishonest’

    July 24, 2025

Editor’s Pick

  • Speaker Johnson’s government funding play hits the rocks within House GOP

    November 19, 2024
  • Detroit pastor set to speak at RNC explains why Black voters are shifting to Trump: ‘Let’s keep it real’

    July 19, 2024
  • Optimus, Elon Musk’s Tesla Robot to Be Released This Year

    July 10, 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