Divided House Attempts Dawn Vote on Trump's Monumental Tax and Spending Bill
The Republican-led U.S. House of Representatives is set to vote on President Trump's extensive tax and spending legislation early Thursday. The contentious bill extends 2017 tax cuts, boosts military spending, and tightens welfare eligibility, potentially increasing the national debt by $3.8 trillion over a decade.
The U.S. House of Representatives, dominated by Republicans, is poised to vote Thursday morning on President Donald Trump's sweeping tax and spending bill after weeks of internal party disputes on spending cuts.
The proposed legislation seeks to extend the 2017 tax cuts, introduce tax breaks for tipped income and auto loans, eliminate green-energy subsidies, and enhance military and immigration spending. It would, however, tighten the eligibility for pivotal programs like food assistance and healthcare, impacting millions of low-income citizens. Congressional Budget Office forecasts predict a $3.8 trillion increment to the national debt over the next decade.
Lawmaker consensus remains precarious, with Republican support wavering amid Democratic resistance. House Speaker Mike Johnson aims to pass the bill before holiday recess despite significant intra-party differences, notably on Medicaid reforms. Recent negotiations resulted in a compromise to apply work requirements for Medicaid by 2026, preemptively addressing fiscal concerns about expanding federal expenditure.
(With inputs from agencies.)
Google News