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House Debates Trump's Tax and Spending Bill

UNITED STATES, JUL 3 – The bill includes $4.5 trillion in tax cuts, $350 billion for border security, and cuts Medicaid by $1 trillion, projected to increase the national debt by $3.3 trillion, analysts say.

  • On Thursday, the Republican-controlled House advanced President Donald Trump's tax and spending bill, laying the groundwork for a potential passage later that day.
  • Under pressure to meet a July 4 deadline, GOP leaders worked to sway holdouts in a narrow House majority, which could only lose three votes.
  • The House voted 219-213, with the Congressional Budget Office projecting a $3.3 trillion deficit increase from about $4.5 trillion in tax cuts over a decade.
  • Up to half of Medicaid enrollees may lose coverage, with premiums rising 75% without subsidy extensions, potentially reducing access for millions.
  • The Congressional Budget Office projects the bill will boost deficits by nearly $3.3 trillion over a decade, with a $5 trillion increase in the debt limit, significantly impacting long-term fiscal stability.
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House debates Trump's tax and spending bill

·Washington, United States
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  • 52% of the sources lean Left
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Telemundo 20 broke the news in on Wednesday, July 2, 2025.
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