No Result
View All Result
SUBMIT YOUR ARTICLES
  • Login
Sunday, December 7, 2025
TheAdviserMagazine.com
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal
No Result
View All Result
TheAdviserMagazine.com
No Result
View All Result
Home Market Research Business

Trump tax-cut plan returns to US House, Republicans divided on bill

by TheAdviserMagazine
5 months ago
in Business
Reading Time: 3 mins read
A A
Trump tax-cut plan returns to US House, Republicans divided on bill
Share on FacebookShare on TwitterShare on LInkedIn


The debate within President Donald Trump’s Republican Party over a massive tax-cut and spending bill returns to the House of Representatives on Wednesday, as party leaders try to overcome internal divisions and meet a self-imposed July 4 deadline.

The Senate passed the legislation, which nonpartisan analysts say will add $3.3 trillion to the nation’s debt over the next decade, by the narrowest possible margin on Tuesday after intense debate on the bill’s hefty price tag and substantial cuts to the Medicaid health care program.

Similar divides exist in the House, which Republicans control by a 220-212 margin and where a fractious caucus has regularly bucked its leadership in recent years — though members have so far not rejected major Trump priorities. “The House will work quickly to pass the One Big Beautiful Bill that enacts President Trump’s full America First agenda by the Fourth of July,” House Speaker Mike Johnson said in a statement on Tuesday, citing the bill’s extension of Trump’s 2017 individual tax cuts and increased funding for the military and immigration enforcement.

Also Read: Trump’s ‘big, beautiful’ bill could leave 12 million without healthcare and America drowning in debt

Live Events

House Republican leaders set an initial procedural vote on the bill for 9 a.m. ET (1300 GMT). Some of the loudest Republican objections against it come from party hardliners angry that it does not sufficiently cut spending and a $5 trillion increase in the nation’s debt ceiling, which lawmakers must address in the coming months or risk a devastating default on the nation’s $36.2 trillion debt. “What the Senate did was unconscionable,” said Representative Ralph Norman, a South Carolina Republican, one of several fiscal hawks who spoke out against the Senate bill’s higher price tag, accusing the Senate of handing out “goodie bags” of spending to satisfy holdouts. Norman said he would vote against advancing the bill on Wednesday.

Democrats are united in opposition to the bill, saying that its tax breaks disproportionately benefit the wealthy, while cutting services that lower- and middle-income Americans rely on. The nonpartisan Congressional Budget Office estimated that almost 12 million people could lose health insurance as a result of the bill.

“This is the largest assault on American healthcare in history,” Democratic House Minority Leader Hakeem Jeffries told reporters on Tuesday, pledging that his party will use “all procedural and legislative options” to try to stop – or delay – passage.

The version of the bill passed by the Senate on Tuesday would add more to the debt than the version first passed by the House in May and also includes more than $900 million in cuts to the Medicaid program for low-income Americans.

Those cuts also raised concerns among some House Republicans.

“I will not support a final bill that eliminates vital funding our hospitals rely on,” Representative David Valadao of California said before Senate passage.

Timing difficulties

But some House Republicans worried about social safety-net cuts could find solace in the Senate’s last-minute decision to set aside more money for rural hospitals, funding that Representative Nick Langworthy, a New York Republican, called “a lifeline that will be very helpful to districts like mine.”

Any changes made by the House would require another Senate vote, making it all but impossible to meet the July 4 deadline.

Further complicating the timeline, a wave of storms in the Washington area on Tuesday night canceled flights, and some lawmakers from both parties detailed on social media plans to drive from their home districts to the Capitol for Wednesday’s expected vote.

A senior White House official said on Tuesday that Trump is expected to be “deeply involved” in the whip operation this week.

Also Read: Trump’s ‘big, beautiful’ bill unveiled: Tax cuts, mass deportations, child credit and moreTrump for weeks has pushed for passage ahead of the July 4 Independence Day holiday, though he has also in recent days softened that deadline, describing it as less than critical.

Any public opposition to the bill risks irking Trump, as was the case when the president slammed Senator Thom Tillis, a North Carolina Republican who announced his retirement after coming out in opposition to the bill.

Another former Trump ally, the world’s richest person Elon Musk, this week resumed an active campaign against the bill over social media, blasting its deficit-building effects. That has reignited a feud between Trump and Musk.



Source link

Tags: billdividedHouseplanRepublicansReturnstaxcutTrump
ShareTweetShare
Previous Post

Trump administration withholds $6 billion for school programs

Next Post

Fares rise despite “Transport Justice” program

Related Posts

edit post
ETMarkets Smart Talk| Markets at an inflection point; expect 40–50% gains over 36 months: ASK Hedge Solutions’ Vaibhav Sanghavi

ETMarkets Smart Talk| Markets at an inflection point; expect 40–50% gains over 36 months: ASK Hedge Solutions’ Vaibhav Sanghavi

by TheAdviserMagazine
December 7, 2025
0

As Indian equities scale fresh record highs to close out the year, market sentiment is turning decisively optimistic. But is...

edit post
Is Corona Remedies’ IPO a compelling bet for long-term wealth creation?

Is Corona Remedies’ IPO a compelling bet for long-term wealth creation?

by TheAdviserMagazine
December 7, 2025
0

ET Intelligence Group: Corona Remedies, a pharma company, plans to raise Rs 655.4 crore through an offer for sale. The...

edit post
Trump says Netflix-Warner Bros. deal ‘could be a problem’

Trump says Netflix-Warner Bros. deal ‘could be a problem’

by TheAdviserMagazine
December 7, 2025
0

President Donald Trump raised potential antitrust concerns for Netflix Inc.’s planned acquisition of Warner Bros. Discovery Inc., noting that the...

edit post
Macron warns EU may hit China with tariffs over trade surplus

Macron warns EU may hit China with tariffs over trade surplus

by TheAdviserMagazine
December 7, 2025
0

French President Emmanuel Macron warned that the European Union may be forced to take “strong measures” against China, including potential...

edit post
Snowflake Shares Melt. Is It Time to Buy the Stock on the Dip?

Snowflake Shares Melt. Is It Time to Buy the Stock on the Dip?

by TheAdviserMagazine
December 7, 2025
0

The share price of Snowflake dipped despite another strong quarter from the company. The company's growth is driven by the...

edit post
Jamie Dimon on AI: ‘maybe one day we’ll be working less hard but having wonderful lives’

Jamie Dimon on AI: ‘maybe one day we’ll be working less hard but having wonderful lives’

by TheAdviserMagazine
December 7, 2025
0

JPMorgan Chase CEO Jamie Dimon reiterated a nuanced and overall upbeat view about the effect of artificial intelligence on the...

Next Post
edit post
Fares rise despite “Transport Justice” program

Fares rise despite "Transport Justice" program

edit post
IT in a trading zone; defence out of reach of value investors: Digant Haria

IT in a trading zone; defence out of reach of value investors: Digant Haria

  • Trending
  • Comments
  • Latest
edit post
7 States That Are Quietly Taxing the Middle Class Into Extinction

7 States That Are Quietly Taxing the Middle Class Into Extinction

November 8, 2025
edit post
How to Make a Valid Will in North Carolina

How to Make a Valid Will in North Carolina

November 20, 2025
edit post
8 Places To Get A Free Turkey for Thanksgiving

8 Places To Get A Free Turkey for Thanksgiving

November 21, 2025
edit post
Could He Face Even More Charges Under California Law?

Could He Face Even More Charges Under California Law?

November 27, 2025
edit post
Data centers in Nvidia’s hometown stand empty awaiting power

Data centers in Nvidia’s hometown stand empty awaiting power

November 10, 2025
edit post
8 States Offering Special Cash Rebates for Residents Over 65

8 States Offering Special Cash Rebates for Residents Over 65

November 9, 2025
edit post
Rethinking the Institutional Mandate: A Compilation from Enterprising Investor

Rethinking the Institutional Mandate: A Compilation from Enterprising Investor

0
edit post
ETMarkets Smart Talk| Markets at an inflection point; expect 40–50% gains over 36 months: ASK Hedge Solutions’ Vaibhav Sanghavi

ETMarkets Smart Talk| Markets at an inflection point; expect 40–50% gains over 36 months: ASK Hedge Solutions’ Vaibhav Sanghavi

0
edit post
*HOT* KitchenAid 7-Speed Digital Hand Mixer with Flex-Edge Beaters only .99 shipped! (Reg. 5) {Today Only}

*HOT* KitchenAid 7-Speed Digital Hand Mixer with Flex-Edge Beaters only $55.99 shipped! (Reg. $115) {Today Only}

0
edit post
Money Supply Growth Surges to Multi-Year High as The Fed Loosens Policy

Money Supply Growth Surges to Multi-Year High as The Fed Loosens Policy

0
edit post
Trump says Netflix-Warner Bros. deal ‘could be a problem’

Trump says Netflix-Warner Bros. deal ‘could be a problem’

0
edit post
Bittensor Set for First TAO Halving on Dec. 14

Bittensor Set for First TAO Halving on Dec. 14

0
edit post
ETMarkets Smart Talk| Markets at an inflection point; expect 40–50% gains over 36 months: ASK Hedge Solutions’ Vaibhav Sanghavi

ETMarkets Smart Talk| Markets at an inflection point; expect 40–50% gains over 36 months: ASK Hedge Solutions’ Vaibhav Sanghavi

December 7, 2025
edit post
Is Corona Remedies’ IPO a compelling bet for long-term wealth creation?

Is Corona Remedies’ IPO a compelling bet for long-term wealth creation?

December 7, 2025
edit post
Trump says Netflix-Warner Bros. deal ‘could be a problem’

Trump says Netflix-Warner Bros. deal ‘could be a problem’

December 7, 2025
edit post
Macron warns EU may hit China with tariffs over trade surplus

Macron warns EU may hit China with tariffs over trade surplus

December 7, 2025
edit post
Snowflake Shares Melt. Is It Time to Buy the Stock on the Dip?

Snowflake Shares Melt. Is It Time to Buy the Stock on the Dip?

December 7, 2025
edit post
Bittensor Set for First TAO Halving on Dec. 14

Bittensor Set for First TAO Halving on Dec. 14

December 7, 2025
The Adviser Magazine

The first and only national digital and print magazine that connects individuals, families, and businesses to Fee-Only financial advisers, accountants, attorneys and college guidance counselors.

CATEGORIES

  • 401k Plans
  • Business
  • College
  • Cryptocurrency
  • Economy
  • Estate Plans
  • Financial Planning
  • Investing
  • IRS & Taxes
  • Legal
  • Market Analysis
  • Markets
  • Medicare
  • Money
  • Personal Finance
  • Social Security
  • Startups
  • Stock Market
  • Trading

LATEST UPDATES

  • ETMarkets Smart Talk| Markets at an inflection point; expect 40–50% gains over 36 months: ASK Hedge Solutions’ Vaibhav Sanghavi
  • Is Corona Remedies’ IPO a compelling bet for long-term wealth creation?
  • Trump says Netflix-Warner Bros. deal ‘could be a problem’
  • Our Great Privacy Policy
  • Terms of Use, Legal Notices & Disclosures
  • Contact us
  • About Us

© Copyright 2024 All Rights Reserved
See articles for original source and related links to external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal

© Copyright 2024 All Rights Reserved
See articles for original source and related links to external sites.