22 May | Dollar

Republicans race to pass Trump's major bill in marathon session

Republicans race to pass Trump's major bill in marathon session

According to The Washington Post, House Republicans worked late into the night to advance President Donald Trump’s sweeping tax and immigration bill.

Speaker Mike Johnson struck a last-minute deal with diverse factions of the US Republican Party, securing enough votes to overcome a procedural hurdle. Dusty Johnson, a key negotiator between leadership and fiscal conservatives, announced the measure’s proximity to passage.

However, disagreements over the budget deficit and health care costs reemerged among Republicans on Wednesday, potentially hindering the bill's implementation.

The Washington Post reports the bill would both extend Trump's first-term tax cuts and introduce new breaks, including eliminating taxes on tips and overtime pay. The legislation also proposes over $100 billion in funding for the deportation program.

Elena Berseneva MarketCheese
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