A key House committee voted to advance President Donald Trump’s sweeping tax and spending bill late Wednesday evening, clearing a major hurdle after days of internal Republican infighting and setting the stage for a floor vote in the full House early Thursday.

A global bonds selloff is accelerating on the heels of a U.S. Treasurys rout. "Markets do not find Trump's "big, beautiful tax bill" beautiful at all," an analyst said. Unease with worsening fiscal trajectories is driving the global bond selloff,

U.S. stock index futures steadied on Thursday after a fall in the previous session, when Treasury yields surged, as investors worried President Donald Trump's tax and spending bill could sharply inflate the country's debt burden.

Republicans also used the manager's amendment to remove a federal requirement that firearm suppressors must be registered.

"I think that all of our colleagues here will really like the final product and I think we're going to move forward," House Speaker Mike Johnson told reporters Wednesday evening before the changes were released.

U.S. President Donald Trump's massive tax and spending bill cleared an important procedural hurdle in the Republican-controlled House of Representatives on Wednesday, when a gatekeeper committee approved the measure and set up a floor vote for passage to occur within hours.

Nonpartisan research groups studying the proposal have estimated that it would add more than $2.5 trillion to the federal debt—currently at an all-time high of $36.8 trillion—over the next decade. Despite those projections,

The GOP tax bill could boost the highest-earning Americans' incomes while hurting low earners, according to findings from nonpartisan research groups.