Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Politics

House kicks off final sprint for Trump’s ‘big beautiful bill’ with key committee hearing

by July 1, 2025
July 1, 2025
House kicks off final sprint for Trump’s ‘big beautiful bill’ with key committee hearing

The House of Representatives is beginning the final legislative sprint of President Donald Trump’s ‘big, beautiful bill’ before the commander in chief signs it into law.

The powerful House panel is the final gatekeeper before most pieces of legislation get a chamber-wide vote.

It comes after the Senate spent more than 24 hours straight considering the bill, eventually passing it along the narrowest of margins around midday Wednesday. Vice President JD Vance was on Capitol Hill to cast the tie-breaking vote.

It’s not clear how long the House Rules Committee meeting will go; when the panel considered the House’s own version of the bill in May, Democrats introduced dozens of amendments to symbolically object to the bill and delay the process.

Meanwhile, two conservatives on the House Rules Committee, Reps. Ralph Norman, R-S.C., and Chip Roy, R-Texas, are among those in the lower chamber raising concerns about the bill.

Their opposition in committee would not be enough to stop it, but the legislation could face serious threats House-wide, where just four GOP ‘no’ votes would be enough to sink the bill.

The House first passed the bill – a mammoth piece of legislation advancing Trump’s agenda on taxes, the border, energy, defense and the national debt – in late May by just one vote.

Modifications made by the Senate in order to pass that chamber’s own razor-thin, three-vote majority must now be approved in the House before getting to Trump’s desk.

Republican leaders have a self-imposed deadline of getting the bill to Trump’s desk by the Fourth of July.

House Majority Leader Steve Scalise, R-La., told Fox News Digital early evening on Monday that he expected his chamber would begin considering the bill as early as 9 a.m. Wednesday.

But two members of the conservative House Freedom Caucus, Norman and Rep. Eric Burlison, R-Mo., told Fox News Digital earlier that same day that they believed the bill would not survive a House-wide procedural vote Wednesday if the Senate’s text did not materially change.

The bill would permanently extend the income tax brackets lowered by Trump’s 2017 Tax Cuts and Jobs Act (TCJA), while temporarily adding new tax deductions to eliminate duties on tipped and overtime wages up to certain caps.

It also includes a new tax deduction for people aged 65 and over.

The legislation also rolls back green energy tax credits implemented under former President Joe Biden’s Inflation Reduction Act, which Trump and his allies have attacked as ‘the Green New Scam.’

The bill would also surge money toward the national defense, and to Immigrations and Customs Enforcement (ICE) in the name of Trump’s crackdown on illegal immigrants in the U.S.

The bill would also raise the debt limit by $5 trillion in order to avoid a potentially economically devastating credit default sometime this summer, if the U.S. runs out of cash to pay its obligations.

This post appeared first on FOX NEWS
0
FacebookTwitterGoogle +Pinterest
previous post
Why Justice Jackson is a fish out of water on the Supreme Court
next post
Tax cuts, work requirements and asylum fees: Here’s what’s inside the Senate’s version of Trump’s bill

You may also like

Biden, Harris defy critics by launching full offensive...

July 12, 2024

Israeli official warns ‘everything is on the table’...

October 6, 2024

New Jersey Gov. Phil Murphy denies 2024 rumors,...

March 13, 2023

Wes Moore, considered a rising star among Democratic...

July 22, 2024

Harris conspicuously absent from public memorials honoring service...

August 26, 2024

GOP senators demand Biden comply with COVID origins...

June 15, 2023

DOGE joins budget battle on side of Defense...

March 14, 2025

Republican Wins Idaho House Seat After a Glitch...

November 12, 2022

Hunter Biden spotted getting off private jet days...

July 31, 2023

Multiple letters circulating among House Dems calling on...

July 3, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Inheritance tax haul hits £2.2bn in just three months amid rising property prices and frozen thresholds

      July 22, 2025
    • British Business Bank returns to profit with £144m gain and expanded investment role

      July 22, 2025
    • What Is Remortgaging and Why Does It Matter?

      July 22, 2025
    • Federal judge blocks Trump administration from defunding some Planned Parenthood facilities

      July 22, 2025
    • ‘All the options’: GOP eyes cutting August recess to move dozens of Trump nominees stalled by Dems

      July 21, 2025
    • Randomized Controlled Trials of Medicare and Medicaid, Please

      July 21, 2025

    Categories

    • Business (8,539)
    • Investing (2,137)
    • Politics (16,146)
    • Stocks (3,222)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved