By Bo Erickson and Richard Cowan
WASHINGTON (Reuters) -The Republican-controlled U.S. House of Representatives will try again on Thursday to pass a measure to move forward on extending President Donald Trump’s tax cuts, following a delay caused by party hardliners concerned the measure does not cut spending enough.
A leadership aide said the House expects to vote around 10 a.m. ET (1400 GMT) on the measure, which would cut taxes by about $5 trillion and add approximately $5.7 trillion to the federal government’s debt over the next decade, nonpartisan analysts said.
Success would just be a first step, starting what is likely to be a months-long process of negotiations as Senate and House Republicans agree on the details. House hardliners, who represent deeply conservative districts, are pushing for deep spending cuts that Senate Republicans — who represent full states — have shown limited enthusiasm for.
Trump urged progress, saying on Truth Social, “Great News! “The Big, Beautiful Bill” is coming along really well. Republicans are working together nicely. Biggest Tax Cuts in USA History!!! Getting close.”
The bill would extend the 2017 tax cuts that were Trump’s primary first-term legislative achievement. He has also proposed additional cuts, such as eliminating taxes on overtime, tips and Social Security, that could drive the bill’s cost north of $11 trillion, nonpartisan analysts said.
Congressional Republicans also intend to use the measure to raise the federal government’s debt ceiling, which they must do by sometime this summer or risk default on the nation’s $36.6 trillion in debt.
(Editing by Scott Malone)
Comments