• Investing
  • Stock
  • Economy
  • Editor’s Pick
Portfolio Performance Today
Economy

Trump tax cuts survive key House hurdle as fiscal hawks threaten rebellion

by April 10, 2025
by April 10, 2025

Legislation setting the stage for Republicans to pass a broad swath of President Donald Trump’s agenda survived an important hurdle on Wednesday afternoon.

House GOP lawmakers voted to allow for debate on the legislation, known as a ‘rule vote,’ a framework that serves as one of the first steps in the budget reconciliation process.

It’s still unclear whether House Republicans have enough support to pass the legislation itself, though GOP leaders have indicated they’re moving full steam ahead in a matter of hours.

‘I think we can get this job done. I understand the holdouts. I mean, their concerns are real. They really want to have true budget cuts and to change the debt trajectory that the country is on,’ Speaker Mike Johnson, R-La., told reporters ahead of the first vote..

The legislation advanced through the procedural hurdle in a narrow 216 to 215 vote, with three Republicans – Reps. Thomas Massie, R-Ky., Victoria Spartz, R-Ind., and Mike Turner, R-Ohio – voting with Democrats to block it.

Trump has directed Republicans to work on ‘one big, beautiful bill’ to advance his agenda on border security, defense, energy and taxes.

Such a measure is largely only possible via the budget reconciliation process. Traditionally used when one party controls all three branches of government, reconciliation lowers the Senate’s threshold for passage of certain fiscal measures from 60 votes to 51. As a result, it has been used to pass broad policy changes in one or two massive pieces of legislation.

Rule votes are traditionally not indicators of a bill’s final passage, and they generally fall along party lines. 

Several Republicans who voted to allow debate on the measure have said they will still oppose its final passage.

Passing frameworks in the House and Senate, which largely only include numbers indicating increases or decreases in funding, allows each chamber’s committees to then craft policy in line with those numbers under their specific jurisdictions. 

The House passed its own version of the reconciliation framework earlier this year, while the Senate passed an amended version last week. House GOP leaders now believe that voting on the Senate’s plan will allow Republicans to enter the next step of crafting policy.

But fiscal hawks have raised concerns about the differences in minimum mandatory spending cuts, which they hope will offset the cost of new federal investments and start a path to reducing the deficit.

The Senate’s version calls for at least $4 billion in spending cuts, while the House baseline begins at $1.5 trillion – a significant gap.

Conservatives have demanded extra guarantees from the Senate GOP that it is committed to pursuing deeper spending cuts in line with the House package.

‘They don’t have a plan that I’ve seen. So until I see that, I’m a no,’ Rep. Andy Ogles, R-Tenn., told Fox News Digital. 

Trump himself worked to persuade holdouts both in a smaller-scale White House meeting on Tuesday and in public remarks at the National Republican Congressional Committee (NRCC).

He also fired off multiple Truth Social posts pushing House Republicans to support the measure, even as conservatives argue it would not go far enough in fulfilling Trump’s agenda.

‘Republicans, it is more important now, than ever, that we pass THE ONE, BIG, BEAUTIFUL BILL. The USA will Soar like never before!!!’ one of the posts read.

This post appeared first on FOX NEWS

0 comment
0
FacebookTwitterPinterestEmail

previous post
​​Hegseth says Panama agreed to allow US warships to travel ‘first and free’ through canal
next post
Mike Huckabee confirmed as US ambassador to Israel in bipartisan vote

Related Posts

Bigger Isn’t Better: A Case for Downsizing the...

March 20, 2026

What 122 Universal Basic Income Experiments Actually Show

March 20, 2026

Interest Rate Caps Keep Coming Back — Bastiat...

March 19, 2026

Congress Knows It Has a Spending Problem, But...

March 19, 2026

Free Speech in the Digital Age: From Natural...

March 18, 2026

Reflections on Saturday Morning TV—and The Regulations That...

March 18, 2026

Monetary Policy Rules Suggest Fed Should Hold Steady...

March 17, 2026

Can Immigration Address America’s Fiscal Nightmare? It Depends

March 17, 2026

The Long Shadow of COVID School Closures

March 17, 2026

Fed Officials Face Diverging Mandates

March 16, 2026

Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.

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

Recent Posts

  • Nikkei crashes 2,000 points, Kospi sinks 6% as Asian markets plunge

    March 23, 2026
  • FTSE 100 Index futures enter correction as top UK shares plunge

    March 23, 2026
  • Can Iran trigger a US bond market shock? Wall Street is on edge

    March 23, 2026
  • Meta builds CEO AI agent: are managers about to be replaced?

    March 23, 2026
  • NYC’s LaGuardia shut after runway crash: how far will delays ripple?

    March 23, 2026
  • Air Canada stock faces turbulence as headwinds rise: what next?

    March 23, 2026

Editors’ Picks

  • 1

    Pop Mart reports 188% profit surge, plans aggressive global expansion

    March 26, 2025
  • 2

    New FBI leader Kash Patel tapped to run ATF as acting director

    February 23, 2025
  • 3

    Meta executives eligible for 200% salary bonus under new pay structure

    February 21, 2025
  • 4

    Anthropic’s newly released Claude 3.7 Sonnet can ‘think’ as long as the user wants before giving an answer

    February 25, 2025
  • ‘The Value of Others’ Isn’t Especially Valuable

    April 17, 2025
  • 6

    Walmart earnings preview: What to expect before Thursday’s opening bell

    February 20, 2025
  • 7

    Cramer reveals a sub-sector of technology that can withstand Trump tariffs

    March 1, 2025

Categories

  • Economy (4,454)
  • Editor's Pick (570)
  • Investing (879)
  • Stock (2,848)
  • About us
  • Contact us
  • Privacy Policy
  • Terms & Conditions

Copyright © 2025 Portfolioperformancetoday.com All Rights Reserved.

Portfolio Performance Today
  • Investing
  • Stock
  • Economy
  • Editor’s Pick
Portfolio Performance Today
  • Investing
  • Stock
  • Economy
  • Editor’s Pick
Copyright © 2025 Portfolioperformancetoday.com All Rights Reserved.

Read alsox

Affirm or Lose Custody? Colorado’s Chilling New...

April 30, 2025

Republicans unveil key piece of shutdown puzzle...

November 10, 2025

Trump offers to help India, Pakistan amid...

May 8, 2025