House Republicans pass Trump’s big bill of tax breaks
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The House voted 215-214 early Thursday morning to pass President Donald Trump’s sweeping tax and spending cuts package, a major victory for the president and Speaker Mike Johnson after GOP leaders won over key holdouts.
Some $500 billion in cuts to Medicare could be avoided if Congress instructs the White House budget office to disregard the reconciliation package’s debt impact.
Republican holdouts appear to have a deal with House GOP leadership to advance President Donald Trump's sweeping tax policy bill. The legislation will be tweaked to move up the implementation of Medicaid work requirements from 2029 to December of 2026;
Medicaid has become a key hot button topic in the sweeping tax and spending cuts bill that House Republicans are scrambling to pass as soon as this week.
To attract buyers for the bonds that will finance that deficit, the federal government will have to pay higher interest rates.
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