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House Republicans Advance Tax and Spending Bill to Final Vote

House Republicans Advance Tax and Spending Bill to Final Vote

Global Cryptocurrency
Release Time:
2025-07-03 13:02:02
0
BTCCSquare news:

House Republicans pushed President Donald Trump's sweeping tax and spending bill one step closer to enactment after a marathon overnight session. The 219-213 procedural vote at 3:30 AM ET Thursday sets up final passage later today, marking a victory for Speaker Mike Johnson who spent Wednesday wrangling reluctant GOP members.

The revised legislation now carries $4.5 trillion in tax cuts alongside increased military and border security funding, offset by reductions to Medicaid and food assistance programs. Senate modifications added further tax reductions while scaling back social program cuts—a compromise that exposed fractures between fiscal conservatives fearing debt accumulation and moderates wary of constituent backlash.

Republican unity prevailed after days of internal discord, avoiding a repeat of the Senate's razor-thin passage earlier this week. Vice President JD Vance cast the deciding vote in that chamber, underscoring the bill's contentious path through Congress.

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