EconomyLens.com
No Result
View All Result
Wednesday, November 19, 2025
  • Home
  • Economy
  • Business
  • Markets
  • Tech
  • Editorials
EconomyLens.com
  • Home
  • Economy
  • Business
  • Markets
  • Tech
  • Editorials
No Result
View All Result
EconomyLens.com
No Result
View All Result
Home Economy

US House close to final vote on Trump tax bill

David Peterson by David Peterson
July 3, 2025
in Economy
Reading Time: 8 mins read
A A
0
20
SHARES
247
VIEWS
Share on FacebookShare on Twitter

US President Donald Trump (left) is relying on Speaker Mike Johnson (right) to shepherd his signature bill through the House. ©AFP

Washington (AFP) – US lawmakers teed up a final vote on Donald Trump’s marquee tax and spending bill for Thursday morning after bruising Republican infighting nearly derailed the centerpiece of the president’s domestic agenda. Almost 24 hours after debate began, Trump appeared close to a major victory as Congress edged towards passing his “One Big Beautiful Bill,” despite misgivings in his party over a text that would balloon the national debt while launching a historic assault on the social safety net.

Related

Netherlands halts Nexperia takeover in gesture to China: minister

South Africa to host G20 summit boycotted by US

Lula to return to COP30 as nations under pressure to land deal

IMF gold sales among measures to tackle debt, says report for G20

Trade tensions force EU to cut 2026 eurozone growth forecast

Speaker Mike Johnson struggled through the night to corral his rank-and-file members after the package scraped through a series of “test” votes in the House of Representatives that laid bare deep divisions in the party. It was on course for a final vote that would put it on Trump’s desk to be signed into law after passing its last procedural hurdle in the early hours of Thursday. “We feel very good about where we are and we’re moving forward,” an upbeat Johnson told reporters at the Capitol. “So we’re going to deliver the Big, Beautiful Bill — the president’s ‘America First’ agenda — and we’re going to do right by the American people.”

The timetable could slip, however, as Democratic minority leader Hakeem Jeffries continued a long speech opposing the bill that delayed proceedings by several hours. Originally approved by the House in May, Trump’s sprawling legislation squeezed through the Senate on Tuesday but had to return to the lower chamber for a rubber stamp of the senators’ revisions. The package honors many of Trump’s campaign promises, boosting military spending, funding a mass migrant deportation drive, and committing $4.5 trillion to extend his first-term tax relief. But it is expected to pile an extra $3.4 trillion over a decade onto the country’s fast-growing deficits, while shrinking the federal food stamps program and forcing through the largest cuts to the Medicaid health insurance scheme for low-income Americans since its 1960s launch.

While moderates in the House are anxious that the cuts will damage their prospects of reelection, fiscal hawks chafed over savings that they say fall far short of what was promised. Johnson has to negotiate tight margins and can likely only lose three lawmakers in the final vote, among more than two dozen who had declared themselves open to rejecting Trump’s bill.

The 869-page text only passed in the Senate after a flurry of tweaks that pulled the House-passed version further to the right. It offsets its tax relief with around $1 trillion in health care cuts, and some estimates put the total number of recipients set to lose their insurance coverage under the bill at 17 million. Scores of rural hospitals are expected to close due to the cuts. Most legislation in the House has to run the gauntlet of multiple preliminary votes before it can come up for final approval.

But there was alarm early on as the One Big Beautiful Bill stumbled at one of its first procedural stages, with a vote that ought to have been straightforward remaining open for seven hours and 31 minutes — making it the longest in House history. Johnson had been clear that he was banking on Trump leaning on waverers, as the president has in the past to turn around contentious House votes that were headed for failure. The Republican leader has spent weeks hitting the phones and hosting White House meetings to cajole lawmakers torn between angering welfare recipients at home and incurring his wrath.

“FOR REPUBLICANS, THIS SHOULD BE AN EASY YES VOTE. RIDICULOUS!!!” Trump thundered in one of multiple posts to his Truth Social platform that sounded increasingly frustrated as Wednesday’s marathon voting session spilled into Thursday. House Democrats have signaled that they plan to campaign on the bill to flip the chamber in the 2026 midterm elections, pointing to analyses showing that it represents a historic redistribution of wealth from the poorest Americans to the richest. Jeffries held the floor for his Democrats for more than three hours ahead of the final vote, as he told the stories of everyday Americans whom he argued would be harmed by Trump’s legislation. “This bill, this one big, ugly bill — this reckless Republican budget, this disgusting abomination — is not about improving the quality of life of the American people,” he said.

© 2024 AFP

Tags: Donald Trumppoliticstaxation
Share8Tweet5Share1Pin2Send
Previous Post

France fines Shein 40 mn euros over ‘deceptive’ sales practices

Next Post

US hiring beats expectations in June despite tariff worries

David Peterson

David Peterson

Related Posts

Economy

EU predicts less eurozone 2026 growth due to trade tensions

November 17, 2025
Economy

Swiss growth suffered from US tariffs in Q3: data

November 17, 2025
Economy

Swiss growth suffered from US tariffs in Q3: data

November 17, 2025
Economy

Greenpeace says French uranium being sent to Russia

November 16, 2025
Economy

Serbia avoiding ‘confiscation’ of Russian shares in oil firm NIS

November 16, 2025
Economy

Zelensky vows overhaul of Ukraine’s scandal-hit energy firms

November 15, 2025
Next Post

US hiring beats expectations in June despite tariff worries

Trump close to victory on flagship tax bill

Stocks climb as strong US jobs data pushes off rate hike

Modi pushes further India-Africa cooperation on Ghana visit

0 0 votes
Article Rating
Subscribe
Notify of
guest
guest
0 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments
  • Trending
  • Comments
  • Latest

New York ruling deals Trump business a major blow

September 30, 2024

Elon Musk’s X fights Australian watchdog over church stabbing posts

April 21, 2024

Women journalists bear the brunt of cyberbullying

April 22, 2024

France probes TotalEnergies over 2021 Mozambique attack

May 6, 2024

New York ruling deals Trump business a major blow

79

Ghanaian finance ministry warns against fallout from anti-LGBTQ law

74

Shady bleaching jabs fuel health fears, scams in W. Africa

71

Stock markets waver, oil prices edge up

65

Stocks steadier before key Nvidia results

November 19, 2025

Netherlands halts Nexperia takeover in gesture to China: minister

November 19, 2025

China passes US to return as Germany’s top trade partner

November 19, 2025

Stocks struggle as Nvidia takes centre stage amid AI bubble fears

November 19, 2025
EconomyLens Logo

We bring the world economy to you. Get the latest news and insights on the global economy, from trade and finance to technology and innovation.

Pages

  • Home
  • About Us
  • Privacy Policy
  • Contact Us

Categories

  • Business
  • Economy
  • Markets
  • Tech
  • Editorials

Network

  • Coolinarco.com
  • CasualSelf.com
  • Fit.CasualSelf.com
  • Sport.CasualSelf.com
  • SportBeep.com
  • MachinaSphere.com
  • MagnifyPost.com
  • TodayAiNews.com
  • VideosArena.com
© 2025 EconomyLens.com - Top economic news from around the world.
No Result
View All Result
  • Home
  • Economy
  • Business
  • Markets
  • Tech
  • Editorials

© 2024 EconomyLens.com - Top economic news from around the world.