Trump, House and Bill
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The Republican-controlled U.S. House of Representatives will attempt to pass President Donald Trump's massive tax and spending bill in the pre-dawn hours of Thursday, following weeks of intra-party divisions of how deeply to cut spending.
"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.
Republicans made several eleventh-hour changes to their massive tax cut and immigration bill as they tried to win over GOP holdouts and pass the bill through the House. The revisions were unveiled late Wednesday evening,
President Donald Trump warned Republicans on Wednesday that failure to pass his massive tax and immigration package would be “ultimate betrayal.” In a statement, the White House said the bill needs to “pass immediately” to keep promises that Trump and fellow Republicans made while campaigning.
The GOP tax bill could boost the highest-earning Americans' incomes while hurting low earners, according to findings from nonpartisan research groups.
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,
Deficit hawks who had blocked the measure two days earlier are still dissatisfied and want steeper spending cuts.
House GOP leaders are barreling ahead with a vote on President Donald Trump’s agenda in the coming hours Wednesday, after Trump privately implored key holdouts not to derail the major tax and spending cuts package.