Insiders Advisor
  • Stocks
  • World News
  • Business
  • Politics
  • Stocks
  • World News
  • Business
  • Politics

Insiders Advisor

Politics

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

by February 24, 2025
February 24, 2025
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
Robinhood app says SEC dismissed crypto investigation in sign of easier industry regulation
next post
Trump rescinds Biden order protecting gender clinics from investigation, signals new whistleblower protections

Related Posts

Biden’s Venezuela policy feeds Maduro strongman image, emboldens...

August 2, 2024

Mike Johnson says Harris is Iran’s ‘preferred candidate,’...

September 23, 2024

Trump rakes in hefty March fundraising haul as...

April 4, 2024

Conservatives explode at botched Epstein document rollout: ‘Complete...

March 1, 2025

Abortion ‘on the ballot’ in 10 states this...

November 5, 2024

FBI closed DEI office in December, agency says

January 16, 2025

Kamala Harris underperformed Biden’s numbers with women. South...

November 7, 2024

First American hostage to be released from Gaza,...

January 31, 2025

Trump downplays Canada’s liberal lean from Oval Office,...

March 21, 2025

Key moderate Republican Don Bacon fends off state...

May 15, 2024

    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.

    Latest News

    • Rubio bans overseas outposts commenting on foreign elections unless there’s ‘clear and compelling’ US interest

      July 17, 2025
    • Unearthed chats shed light on cozy ties between judges, climate activists

      July 17, 2025
    • White House releases Trump health update after speculation over swollen legs, bruised hands

      July 17, 2025
    • UK government to lower voting age to 16 before next national election despite strong conservative opposition

      July 17, 2025
    • Bipartisan House resolution aims to condemn phrase that’s created firestorm for Zohran Mamdani

      July 17, 2025
    • ‘Dear God’: Democrats storm out of vote on controversial Trump nominee

      July 17, 2025

    Categories

    • Business (1,308)
    • Politics (6,438)
    • Stocks (904)
    • World News (460)
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: insidersadvisor.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 insidersadvisor.com | All Rights Reserved