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House Republicans unveil blueprint to extend $4.5 trillion in tax cuts and lift the debt ceiling

  • House Republicans released a budget plan that includes up to $4.5 trillion in tax cuts and a $4 trillion increase in the debt limit to finance U.S. Bills.
  • The plan aims for spending cuts of at least $1.5 trillion, targeting social services like Medicaid, with specific cuts requested from various committees.
  • House Speaker Mike Johnson stated that the budget plan is expected to advance easily out of the committee despite internal tensions among Republicans.
  • Sen. Jeff Merkley criticized the GOP budget plan, claiming it would increase national debt and primarily benefit the wealthy through massive tax cuts.
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arcamax.com broke the news in on Wednesday, February 12, 2025.
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