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RE: LeoThread 2025-02-21 10:06

in LeoFinance8 months ago

Trump this week came down firmly in favor of House Republicans' plan for a single sweeping bill, which includes extending $4.5 trillion in tax cuts. House Republicans have a narrow and fractious 218-215 majority, which will make passing that bill difficult.

The Senate's bill, which leaves the issue of Trump's desired extension of his 2017 tax cuts to a later date, will serve as a backup in case House Republicans cannot come to an agreement on how to pay for the tax cuts in their bill without slashing funding for popular safety net programs like Medicaid and Social Security or adding significantly to the country's $36 trillion debt.