House Budget Committee to reconvene Sunday to discuss tax bill
AinvestFriday, May 16, 2025 2:02 pm ET

House Budget Committee to reconvene Sunday to discuss tax bill
The House Budget Committee is set to reconvene on Sunday to continue discussions on President Donald Trump's "big beautiful bill," which includes significant tax cuts and spending reductions. The committee's Friday meeting ended with a vote that blocked the bill, with conservatives demanding steeper cuts to Medicaid and other programs to offset the costs of the tax breaks [1].The bill, known as the One Big Beautiful Bill Act, has been a point of contention among Republicans. Hardline conservatives, particularly those in the House Freedom Caucus, argue that the bill does not go far enough in reducing spending. They have expressed concerns about the 80-hour monthly work, community service, or education program requirement for able-bodied adults without dependents to qualify for Medicaid, which is set to start in 2029 [1].
The bill is also facing opposition from disability rights activists who protest that it would cause them to lose access to healthcare. The House Energy and Commerce Committee, which handles healthcare, marked up its part of the legislation despite these protests [1].
President Trump has urged Republicans to unite behind the sweeping tax bill, warning that the tax cuts alone would add to the nation's $36 trillion debt. However, the failed vote has left the bill's future uncertain, with conservatives vowing to stay all weekend to negotiate changes [2].
The reconvening of the House Budget Committee on Sunday is a crucial step in the bill's journey. If the committee can reach a consensus and make the necessary changes, the bill could be approved and sent to the Senate for further consideration. However, if the committee fails to reach an agreement, the bill's prospects in Congress could be severely diminished.
The ongoing negotiations highlight the political divide within the Republican Party and the challenges facing the Trump administration in pushing through its legislative agenda. The outcome of these discussions will have significant implications for the U.S. budget and the broader economy.
References:
[1] https://www.newsbreak.com/trending-story/house-budget-committee-blocks-trump's-tax-and-spending-bill-68276a53d36e2877ec402ee4
[2] https://www.politico.com/news/2025/05/16/trump-urges-republicans-unite-behind-tax-bill-012127
Disclaimer: The news articles available on this platform are generated in whole or in part by artificial intelligence and may not have been reviewed or fact checked by human editors. While we make reasonable efforts to ensure the quality and accuracy of the content, we make no representations or warranties, express or implied, as to the truthfulness, reliability, completeness, or timeliness of any information provided. It is your sole responsibility to independently verify any facts, statements, or claims prior to acting upon them. Ainvest Fintech Inc expressly disclaims all liability for any loss, damage, or harm arising from the use of or reliance on AI-generated content, including but not limited to direct, indirect, incidental, or consequential damages.
Comments
No comments yet