• Economy
  • Investing
  • Editor’s Pick
  • Stock
Evil Shark Trades
Economy

Trump’s ‘big, beautiful bill’ passes key House hurdle after GOP rebel mutiny

by May 19, 2025
by May 19, 2025

President Donald Trump’s ‘one big, beautiful bill’ survived a key hurdle in the House of Representatives on Sunday night, putting it one step closer to a chamber-wide vote later this week.

Lawmakers on the House Budget Committee were summoned back to Washington for a 10 p.m. meeting to vote on advancing the legislation, which passed the panel in a nearly party-line vote.

Speaker Mike Johnson, R-La., made a surprise appearance at the committee room shortly before the vote began, telling reporters, ‘We think this is going to go well tonight. We’re about to find out.’

He said there would likely be ‘minor modifications’ to the final bill.

It comes after a rebellion by four conservative House Freedom Caucus members on the committee blocked the bill from advancing on Friday, with the fiscal hawks seeking assurances that stricter crackdowns on Medicaid and green energy subsidies in the Inflation Reduction Act (IRA) would be in the final bill before a House-wide vote.

Advancing the legislation through the House Budget Committee is a largely procedural move. Any likely changes will be introduced as amendments in the House Rules Committee, the final gatekeeper before a House-wide vote, sometime early this week.

Notably, two of the Budget Committee fiscal hawks who demanded further changes – Reps. Chip Roy, R-Texas, and Ralph Norman, R-S.C. – also sit on the House Rules Committee.

Nevertheless Speaker Mike Johnson, R-La., signaled confidence on Fox News Sunday that his chamber was ‘on track’ to hold that House-wide vote toward the end of this week.

The House Budget Committee passed a framework earlier this year with ‘instructions’ for various other committees to enact Trump policies under their jurisdictions. 

Following House and Senate-wide votes on their frameworks, House committees began crafting those policies, which have now been put back together into the massive bill the House Budget Committee advanced on Sunday night.

Republicans are working to pass Trump’s agenda via the budget reconciliation process, which allows the party controlling both Congress and the White House to pass vast pieces of legislation while completely sidelining the minority – in this case, Democrats.

It does so by lowering the Senate’s threshold for passage from 60 votes to 51, lining up with the House’s own simple majority. The legislation must adhere to a specific set of rules, however, including only items related to federal spending, tax, and the national debt.

Trump is having Republicans use the legislation to enact his campaign promises on tax cuts, immigration, energy, defense, and raising the debt limit.

And while quelling Friday’s GOP mutiny is a victory for House Republican leaders, lawmakers will still have to sit through high-stakes negotiations on any changes made to the bill before the House Rules Committee considers it.

Conservatives are opposed to aspects of the legislation’s crackdown on Medicaid, which Republicans have said they are only trimming for waste, fraud, and abuse. But Medicaid work requirements for able-bodied people are not set to kick in until 2029, and conservatives have argued that it was a large window of time for those changes to be undone, among other concerns.

They’re also pushing for a more aggressive effort to repeal green energy tax subsidies passed in the former Biden administration’s Inflation Reduction Act (IRA). 

The respective pushes have pitted them against moderates wary of significant Medicaid cuts, and Republican lawmakers whose districts have businesses that have benefited from the tax relief.

Meanwhile, moderates in high-cost-of-living areas have also pushed for larger state and local tax (SALT) deduction caps, which red state Republicans have largely dismissed as subsidies to high-tax blue states.

The Republicans in those seats, however, have argued that it’s an existential issue for their districts, where GOP victories were critical to winning and holding the House majority.

But even after it passes the House, Republicans there likely won’t be done with the ‘big, beautiful bill’ – Republican senators have already signaled they are likely going to make changes to the bill.

Johnson said Sunday that House and Senate leaders were ‘in close coordination’ on the final product, adding, ‘we hope that they don’t make many modifications to it.’

Any changes will have to go through the House again; identical bills must pass both chambers before getting signed into law by Trump.

Republican leaders have said they hope to get a bill on the president’s desk by Fourth of July.

This post appeared first on FOX NEWS
0 comment
0
FacebookTwitterPinterestEmail

previous post
Iran foreign minister vows nuclear enrichment will continue ‘with or without a deal’
next post
Trump reshapes US foreign policy with wildly successful, business-first Middle East trip

You may also like

Obama reacts to Biden diagnosis: ‘Nobody has done...

Trump reshapes US foreign policy with wildly successful,...

Iran foreign minister vows nuclear enrichment will continue...

Political world reacts to former President Biden’s ‘aggressive’...

Trump wishes Biden ‘fast and successful recovery’ after...

Joe Biden diagnosed with ‘aggressive form’ of prostate...

Rubio teases details of potential Trump, Putin in-person...

Johnson pushes ‘aggressive’ timetable for House to pass...

Biden’s woes converge: Last-minute pardons under fire, calls...

Dems’ hearing meltdowns a play to the base,...

Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.






    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    Recent Posts

    • Obama reacts to Biden diagnosis: ‘Nobody has done more to find breakthrough treatments for cancer…than Joe’
    • Trump reshapes US foreign policy with wildly successful, business-first Middle East trip
    • Trump’s ‘big, beautiful bill’ passes key House hurdle after GOP rebel mutiny
    • Iran foreign minister vows nuclear enrichment will continue ‘with or without a deal’
    • Political world reacts to former President Biden’s ‘aggressive’ cancer diagnosis: ‘Incredibly difficult’

    Categories

    • Economy (5,884)
    • Editor's Pick (3,862)
    • Investing (2,826)
    • Stock (1,287)
    Email Whitelisting About Us Terms & Conditions Privacy Policy Contact Us

    Disclaimer: Evilsharktrades.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 © 2024 EvilSharkTrades.com


    Back To Top
    Evil Shark Trades
    • Economy
    • Investing
    • Editor’s Pick
    • Stock