Finance Fusion Network
  • Investing
  • Latest News
  • Editor’s Pick
  • Economy
  • Investing
  • Latest News
  • Editor’s Pick
  • Economy
No Result
View All Result
Finance Fusion Network
No Result
View All Result

Trump tax cut plan hits turbulence ahead of House vote as Republicans split

by
February 24, 2025
in Latest News
0
Trump tax cut plan hits turbulence ahead of House vote as Republicans split

A massive piece of legislation that House Republicans hope will advance a broad swath of President Donald Trump’s agenda is facing its final hurdle on Monday before a chamber-wide vote.

The House Rules Committee, the final gatekeepers for most bills before a House floor vote, is meeting to debate a measure that GOP leaders want to have on Trump’s desk by sometime in May.

The bill aims 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 bill also provides $4.5 trillion to extend Trump’s 2017 Tax Cuts and Jobs Act (TCJA) provisions, which expire at the end of this year.

It comes after the Senate held an all-night session to advance its own version of the Trump plan last week. In the Senate Republicans’ budget plan, the first reconciliation bill includes Trump’s priorities for border security, energy and national defense, while the second bill, to be drawn up later in the year, would focus on extending Trump’s tax policies from TCJA.

Since the commander in chief has already telegraphed his preference for House Republicans’ proposal, the Senate bill has been relegated to a de facto backup plan if the House is not able to pass its own. This much was relayed to senators by Vice President JD Vance last week as he gave them the White House’s blessing to push their bill forward, a source told Fox News Digital. 

Current margins dictate House Republicans can only lose one vote to still pass a bill without Democratic support.

Rep. Victoria Spartz, R-Ind., wrote on X Sunday night that she was against the bill as written.

‘Why I am a NO on the current version of the house budget instructions – I have a TRILLION DOLLAR QUESTION – where is the money – $1T? Interesting FACT: roughly 85% of spending is not ever even looked at by Congress – convenient if you would like to hide waste, fraud and abuse,’ Spartz announced.

Other Republicans have expressed concerns over the $880 billion in spending cuts under the Energy & Commerce Committee, which many have taken to mean at least some cuts to federal programs like Medicaid.

The House version of the bill differs from the Senate in that the latter version does not include funding for Trump’s tax cuts. Senate GOP leaders argue that splitting Trump’s priorities into two bills will allow the party to secure early victories on the border and defense, places where there is more agreement within the conference.

However, House Republican leaders contend that Republicans have not passed two reconciliation bills since the 1990s and under far more favorable margins.

Both chambers are contending with razor-thin margins and an ideologically diverse Republican conference as they look to make major conservative policy changes via the budget reconciliation process this year. 

By leveling thresholds for passage in the House and Senate at a simple majority, reconciliation allows the party in power to pass fiscal legislation without any support from the opposing side. The Senate has a two-thirds majority threshold to advance most measures.

It is not clear, however, whether Trump’s support for the House plan will be enough to get it over the line. 

This post appeared first on FOX NEWS
Previous Post

Trump meets France’s Macron at White House, says ‘lot of progress’ made toward ending war in Ukraine

Next Post

Trump rescinds Biden order protecting gender clinics from investigation, signals new whistleblower protections

Next Post
Trump rescinds Biden order protecting gender clinics from investigation, signals new whistleblower protections

Trump rescinds Biden order protecting gender clinics from investigation, signals new whistleblower protections

  • Trending
  • Comments
  • Latest
DAVID MARCUS: Public broadcasting’s purpose has passed. It’s time to pull the plug

DAVID MARCUS: Public broadcasting’s purpose has passed. It’s time to pull the plug

February 7, 2025
Elon Musk connects with indie Andrew Yang on billionaire former Trump ally’s third party push

Elon Musk connects with indie Andrew Yang on billionaire former Trump ally’s third party push

July 8, 2025
Analysis-To weather Trump, emerging market investors look to the frontier

Analysis-To weather Trump, emerging market investors look to the frontier

January 27, 2025
Over 158 million Americans voted in 2024 as Trump reclaimed the White House

Over 158 million Americans voted in 2024 as Trump reclaimed the White House

July 7, 2025
Vance delivers post-election reality check, contends GOP must make life affordable or get walloped in 2026

Vance delivers post-election reality check, contends GOP must make life affordable or get walloped in 2026

0
Harris campaign officials explain what went wrong –  and what Trump did right: report

Harris campaign officials explain what went wrong – and what Trump did right: report

0
New Republican Governors Association chair says ‘focus’ is on helping Trump get ‘off to a strong start’

New Republican Governors Association chair says ‘focus’ is on helping Trump get ‘off to a strong start’

0
NVIDIA Corporation (NASDAQ:NVDA) shares fell roughly 3%

NVIDIA Corporation (NASDAQ:NVDA) shares fell roughly 3%

0
Vance delivers post-election reality check, contends GOP must make life affordable or get walloped in 2026

Vance delivers post-election reality check, contends GOP must make life affordable or get walloped in 2026

November 5, 2025
Senate Dems emboldened in shutdown strategy after election sweep

Senate Dems emboldened in shutdown strategy after election sweep

November 5, 2025
Trump admin ramps up Sudan peace effort as civil war leaves tens of thousands dead

Trump admin ramps up Sudan peace effort as civil war leaves tens of thousands dead

November 5, 2025
House Dem crashes Mike Johnson press event as tensions erupt over shutdown

House Dem crashes Mike Johnson press event as tensions erupt over shutdown

November 5, 2025

    Fill Out & Get More Relevant News

    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.

    Recent News

    Vance delivers post-election reality check, contends GOP must make life affordable or get walloped in 2026

    Vance delivers post-election reality check, contends GOP must make life affordable or get walloped in 2026

    November 5, 2025
    Senate Dems emboldened in shutdown strategy after election sweep

    Senate Dems emboldened in shutdown strategy after election sweep

    November 5, 2025
    Trump admin ramps up Sudan peace effort as civil war leaves tens of thousands dead

    Trump admin ramps up Sudan peace effort as civil war leaves tens of thousands dead

    November 5, 2025
    House Dem crashes Mike Johnson press event as tensions erupt over shutdown

    House Dem crashes Mike Johnson press event as tensions erupt over shutdown

    November 5, 2025

    Top News

    Vance delivers post-election reality check, contends GOP must make life affordable or get walloped in 2026

    Vance delivers post-election reality check, contends GOP must make life affordable or get walloped in 2026

    November 5, 2025
    Senate Dems emboldened in shutdown strategy after election sweep

    Senate Dems emboldened in shutdown strategy after election sweep

    November 5, 2025

    Latest News

    • Vance delivers post-election reality check, contends GOP must make life affordable or get walloped in 2026
    • Senate Dems emboldened in shutdown strategy after election sweep
    • Trump admin ramps up Sudan peace effort as civil war leaves tens of thousands dead

    About Finance Fusion Network

    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Copyright © 2024 Financefusionnetwork.com. All Rights Reserved.

    No Result
    View All Result
    • Investing
    • Latest News
    • Editor’s Pick
    • Economy

    Copyright © 2024 Financefusionnetwork.com. All Rights Reserved.