Trump's Tax-Cut Triumph: A Controversial Congressional Win
Donald Trump's tax-cut bill, stuck due to Republican infighting, gained approval from a congressional committee after hardliner negotiations for deeper spending cuts. However, it faces criticism for potentially increasing national debt, while also challenging Medicaid provision for lower-income Americans, amid fears of a credit downgrade impact.
In a significant legislative movement, President Donald Trump's tax-cut bill, which had faced delays owing to Republican dissent over spending cuts, has finally advanced. Approved by a prominent congressional committee during a rare Sunday session, this marks a win for both Trump and House Speaker Mike Johnson.
The advancement followed negotiations involving four hardline Republican members of the House Budget Committee, who initially blocked the bill. Their demands for deeper spending cuts were partially settled in talks with GOP leaders and the White House, though critics raise concerns about the bill's fiscal implications.
The bill aims to extend Trump's 2017 tax reductions and boost defense spending while potentially adding trillions to the national debt. With pressure mounting for full House approval before the Memorial Day holiday, the legislation faces opposition for its proposed cuts to Medicaid and green tax credits.
(With inputs from agencies.)
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