The High Stakes of Trump's Tax Cut and Spending Bill in Congress
Republicans in the U.S. House are working on a deal to pass President Trump's tax cut and spending bill amid debates over its impact on the national debt and potential benefits predominantly for wealthy individuals. The bill includes extending 2017 tax cuts and adding tax breaks for income from tips and overtime.
Wednesday saw Republicans in the U.S. House of Representatives striving to finalize a deal to pass President Donald Trump's tax cut and spending bill. Critically, nighttime discussions honed in on spending reductions and provisions for those in high-tax states.
The House Rules Committee commenced deliberations early Wednesday morning, with the goal of passing a measure that could add trillions to the national debt. A successful House vote will transition the debate into the Senate, engaging the Republican-majority Congress even further.
Under the scrutiny of its narrow majority, the GOP faces pressure to align their stance amid objections from Democrats and some Republican members. While Trump rallies for party unanimity, concerns linger over the bill's implications on social programs and increasing the national debt ceiling.
(With inputs from agencies.)
Google News