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

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

by July 2, 2025
by July 2, 2025

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 comment
0
FacebookTwitterPinterestEmail

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

Related Posts

Certificate-of-Need Laws Still Fail Patients — Even After...

February 4, 2026

Will Adam Smith’s ‘Impartial Spectator’ Soften Trump’s Hardest...

February 4, 2026

Free Speech Is Under Attack Across the World

February 4, 2026

Iran’s president strikes softer tone on nuclear talks...

February 4, 2026

House sends bill ending government shutdown to Trump’s...

February 4, 2026

Clintons cave: Comer says Bill and Hillary to...

February 4, 2026

Government shutdown ends as Trump signs bill, but...

February 4, 2026

GOP senator jabs Jeffries as ‘butt hurt’ over...

February 4, 2026

Schumer faces backlash after calling SAVE Act ‘Jim...

February 4, 2026

Epstein emails reveal behind-the-scenes talk of firing Fed...

February 4, 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

  • IoT Data Collection in ATEX Environments

    February 4, 2026
  • Silver price volatility: why it’s bad news for Pandora stock

    February 4, 2026
  • Europe bulletin: UK stocks pull back, gold, copper lift miners, France raids X headquarters

    February 4, 2026
  • Novo Nordisk stock tumbles 15% despite strong earnings: here’s what spooked investors

    February 4, 2026
  • Evening digest: Walmart’s $1T mark, Novo’s weak outlook, Bitcoin slips below $74K

    February 4, 2026
  • Broadcom stock plunges 6% today: is the AI trade cracking?

    February 4, 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
  • 5

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

    February 20, 2025
  • ‘The Value of Others’ Isn’t Especially Valuable

    April 17, 2025
  • 7

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

    March 1, 2025

Categories

  • Economy (4,029)
  • Editor's Pick (442)
  • Investing (490)
  • Stock (2,684)
  • 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

House advances bill to end government shutdown...

November 13, 2025

Trump praised for getting NATO allies to...

March 14, 2025

Exiled prince looks to lead Iranian people...

June 24, 2025