Congress Weighs Trump’s Landmark Tax Cut Bill Amidst Internal GOP Tensions
President Trump's new tax cut and spending bill faces scrutiny in the House, with internal GOP disagreements over Medicaid cuts and tax breaks. An early morning hearing may determine its fate, reflecting broader tension between fiscal conservatives and moderates on economic priorities.
The House of Representatives is preparing for a crucial decision on President Donald Trump's latest tax cut and spending bill, facing internal GOP divisions over Medicaid cuts and tax breaks for high-cost coastal states. The bill is set to significantly impact various welfare programs, green-energy initiatives, and immigration enforcement funding.
An unusual 1 a.m. ET hearing by the House Rules Committee is set to deeply examine the bill. With a narrow party majority and a few dissenting votes capable of derailing the measure, House Speaker Mike Johnson is exerting pressure to secure passage. Fiscal hawks seek deeper Medicaid cuts, while centrist Republicans resist limits on state and local tax deduction caps.
The bill, if ratified, would extend Trump's 2017 tax cuts, adding potential tax breaks on income from tips and overtime pay. Critics argue the plan could pile up as much as $5 trillion to the national debt. A Senate vote is anticipated next month, contingent on overcoming the intra-party discord in the House.
(With inputs from agencies.)
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