Bloomberg Businessweek Trump Tax Cuts Rejected by House Panel as Hardliners Dig In
May 16, 2025
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House Bill Blocked by Hardliners
- A House Budget Committee failed to advance a Republican tax-and-spending bill due to conservative opposition.
- This rare failure highlights fissures over cost concerns and deeper program cuts like Medicaid.
Balancing Act Delays Bill Progress
- The bill's fate depends on balancing deeply divided Republican priorities, like SALT deductions versus spending cuts.
- The approaching Memorial Day floor vote timeline and debt ceiling pressures complicate negotiations further.
Senate Likely to Rewrite Tax Bill
- The Trump tax cut extension bill faces a complex path through the Senate, likely to undo Medicaid cuts.
- This Senate rewriting will anger House conservatives who already oppose the bill.