No Result
View All Result
SUBMIT YOUR ARTICLES
  • Login
Thursday, September 11, 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
2 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
Billionaire Barry Silbert says he hasn’t been this excited about a crypto project since discovering Bitcoin

Billionaire Barry Silbert says he hasn’t been this excited about a crypto project since discovering Bitcoin

by TheAdviserMagazine
September 11, 2025
0

One of crypto’s earliest entrepreneurs is betting on something other than Bitcoin. Famous as an early advocate of “digital gold,”...

edit post
Avidity Biosciences reports data from DMD treatment trials

Avidity Biosciences reports data from DMD treatment trials

by TheAdviserMagazine
September 11, 2025
0

IvelinRadkov/iStock via Getty ImagesAvidity Biosciences (NASDAQ:RNA) has announced new data from its clinical trials evaluating the experimental treatment del-zota for...

edit post
Why Ramp founder Eric Glyman tracks the age of his startup—to the day

Why Ramp founder Eric Glyman tracks the age of his startup—to the day

by TheAdviserMagazine
September 11, 2025
0

Ramp co-founder and CEO Eric Glyman had Fortune editor in chief Alyson Shontell doing a double take. “You hit on...

edit post
4 Types of Stocks To Avoid

4 Types of Stocks To Avoid

by TheAdviserMagazine
September 11, 2025
0

Since 1957, the S&P 500 has seen an average annual return of over 10.5%, according to Official Data. Someone who...

edit post
BSE cautions investors against unsolicited messages in these penny stocks. Check details

BSE cautions investors against unsolicited messages in these penny stocks. Check details

by TheAdviserMagazine
September 11, 2025
0

BSE has cautioned investors against dealing in Elegant Floriculture & Agrotech India and Spright Agro scrips based on recommendations coming...

edit post
Tinder tries to win back Gen Z with dating app ‘modes’ designed for double dating and college students

Tinder tries to win back Gen Z with dating app ‘modes’ designed for double dating and college students

by TheAdviserMagazine
September 11, 2025
0

Gen Z and dating experts have proclaimed traditional dating apps are doomed. But Tinder is courting the next generation by...

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
California May Reimplement Mask Mandates

California May Reimplement Mask Mandates

September 5, 2025
edit post
Who Needs a Trust Instead of a Will in North Carolina?

Who Needs a Trust Instead of a Will in North Carolina?

September 1, 2025
edit post
Does a Will Need to Be Notarized in North Carolina?

Does a Will Need to Be Notarized in North Carolina?

September 8, 2025
edit post
Big Dave’s Cheesesteaks CEO grew up in ‘survival mode’ selling newspapers and bean pies—now his chain sells a  cheesesteak every 58 seconds

Big Dave’s Cheesesteaks CEO grew up in ‘survival mode’ selling newspapers and bean pies—now his chain sells a $12 cheesesteak every 58 seconds

August 30, 2025
edit post
‘Quiet luxury’ is coming for the housing market, The Corcoran Group CEO says. It’s not just the Hamptons, Aspen, and Miami anymore

‘Quiet luxury’ is coming for the housing market, The Corcoran Group CEO says. It’s not just the Hamptons, Aspen, and Miami anymore

September 9, 2025
edit post
The Next Step: Millionaire store clerk eyes early retirement

The Next Step: Millionaire store clerk eyes early retirement

August 15, 2025
edit post
Billionaire Barry Silbert says he hasn’t been this excited about a crypto project since discovering Bitcoin

Billionaire Barry Silbert says he hasn’t been this excited about a crypto project since discovering Bitcoin

0
edit post
3 Social Security Changes That Are Now Costing Some Retirees

3 Social Security Changes That Are Now Costing Some Retirees

0
edit post
Congress Must Preserve Access to Affordable Marketplace Coverage

Congress Must Preserve Access to Affordable Marketplace Coverage

0
edit post
Ryanair CEO: We might not bother returning to Israel

Ryanair CEO: We might not bother returning to Israel

0
edit post
Market Talk – September 11, 2025

Market Talk – September 11, 2025

0
edit post
Consensys Treasury moves 15% LINEA allocation to qualified custodian for long-term storage

Consensys Treasury moves 15% LINEA allocation to qualified custodian for long-term storage

0
edit post
Billionaire Barry Silbert says he hasn’t been this excited about a crypto project since discovering Bitcoin

Billionaire Barry Silbert says he hasn’t been this excited about a crypto project since discovering Bitcoin

September 11, 2025
edit post
Congress Must Preserve Access to Affordable Marketplace Coverage

Congress Must Preserve Access to Affordable Marketplace Coverage

September 11, 2025
edit post
Raymond James sues to retrieve dead advisor’s laptop

Raymond James sues to retrieve dead advisor’s laptop

September 11, 2025
edit post
Avidity Biosciences reports data from DMD treatment trials

Avidity Biosciences reports data from DMD treatment trials

September 11, 2025
edit post
Improve Your CX Prioritization With Forrester’s Updated And Expanded Tools

Improve Your CX Prioritization With Forrester’s Updated And Expanded Tools

September 11, 2025
edit post
Market Talk – September 11, 2025

Market Talk – September 11, 2025

September 11, 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

  • Billionaire Barry Silbert says he hasn’t been this excited about a crypto project since discovering Bitcoin
  • Congress Must Preserve Access to Affordable Marketplace Coverage
  • Raymond James sues to retrieve dead advisor’s laptop
  • 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.