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House Republicans narrowly pass Trump’s big bill of tax breaks and program cuts after all-night session
- House Republicans passed President Donald Trump’s multitrillion-dollar tax breaks and spending cuts bill on May 22, 2025, in Washington by a narrow 215-214 vote after an all-night session.
- The legislation responded to internal GOP pressures to reinstate and expand Trump-era 2017 tax breaks while imposing stricter Medicaid work requirements, amid fierce opposition from Democrats calling it a "big, ugly bill."
- Key elements of the plan involve prolonging $4.5 trillion in tax incentives, increasing the state and local tax deduction to $40,000 for taxpayers earning as much as $500,000, advancing the start date of Medicaid work requirements to December 2026 with an 80-hour monthly obligation, and accelerating the phase-out of clean energy tax incentives.
- The nonpartisan Congressional Budget Office estimated the bill would reduce Medicaid and SNAP recipients by millions, increase deficits by $3.8 trillion over ten years, and lead to 8.6 million fewer insured Americans, highlighting concerns about growing national debt.
- The bill’s passage culminated a difficult political effort led by Speaker Mike Johnson, reflecting Republican voters’ priorities but signaling continued debate in the Senate and ongoing contention over the nation’s fiscal sustainability.
675 Articles
675 Articles
U.S. House approves Trump’s tax and spending bill. What it means for Iowa
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The potential winners and losers from Trump's tax bill
Donald TrumpAndrew Harnik/Getty ImagesThis post originally appeared in the Business Insider Today newsletter.You can sign up for Business Insider's daily newsletter here.Happy Friday! Let me offer a penny for your thoughts while I still can. The Treasury Department placed its final order for the coin best known for being stuck to the bottom of your car's cup holders.In today's big story, we're looking at the impact Trump's tax bill could have on…
Report: House Republicans’ tax bill heavily favors wealthy Americans
Analysis shows the richest 1% would receive $121 billion in tax cuts while the poorest fifth see only 1% of the benefit. Republicans in the US House of Representatives spent the week before Memorial Day pushing through a sweeping tax and spending package. It’s a major victory for President Donald Trump, containing a slew of tax cuts, a larger State and Local Tax (SALT) tax deduction, serious cuts to Medicaid and SNAP, and new spending for immigr…
House Passes Reconciliation Bill
(NAFB.com) – U.S. agriculture organizations reacted to the House of Representatives passing its reconciliation bill. “Farm Bureau applauds the legislation, which modernizes farm bill programs and extends and improves critical tax provisions that benefit farmers and ranchers,” said AFBF President Zippy Duvall. “Updated reference prices will also create some certainty for farmers struggling through tough economic times.” National Cattlemen’s Beef …
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