Thomas Massie again one of two Republican 'no' votes on Trump's 'big, beautiful bill'
House Resolution 1, also labeled the "One Big, Beautiful Bill," is a massive piece of legislation that preserves tax cuts passed during Trump's first administration while also investing billions in border security and the U.S. military.
It passed the House on a 218-214 vote July 3 and now heads to Trump's desk to be signed into law.
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Massie, who has been a stark opponent of the legislation, was one of two Republican "no" votes, along with U.S. Rep. Brian Fitzpatrick, R-Pennsylvania.
Earlier, U.S. Sen. Rand Paul of Kentucky was one of three Republicans to oppose the bill, which passed through the Senate on a 51-50 vote July 1, after Vice President JD Vance cast a tie-breaking vote.
Massie had consistently spoken against the bill, saying he didn't believe it cut the federal deficit enough. His criticisms on the measure caught attention of Trump, who has targeted Massie in his upcoming May 2026 primary.
While the bill has drawn massive support from Republicans, it drew heavy opposition from Democrats for its cuts to the Medicaid program and other measures.
The rest of Kentucky's Republican federal delegation, including U.S. Reps. Hal Rogers, James Comer, Andy Barr and Brett Guthrie, voted in favor of the bill. U.S. Rep. Morgan McGarvey, the lone Democratic representative from the Bluegrass State, voted "no."
More: Proposed censure of Thomas Massie hints at divide in Kentucky GOP amid Trump feud
"This Republican budget is a slap in the face to Kentucky and all of rural America," McGarvey said in a statement. "It will kick millions of Americans off their health insurance, take food away from Kentucky families, kids, and seniors, and add trillions to the national debt. All so that Elon Musk and Jeff Bezos pay even less in taxes."
Barr, however, in a statement argued the bill will help Kentuckians.
'Today, Kentucky families, workers, and small businesses got a historic tax cut — jet fuel for our economy and a boost for Kentuckians still recovering after four years of Bidenflation," Barr said. "This is the latest and greatest chapter of the Trump economic comeback — and the theme is promises made, promises kept."
This story could be updated.
Reach reporter Hannah Pinski at hpinski@courier-journal.com or follow her on X, formerly known as Twitter, at @hannahpinski.
This article originally appeared on Louisville Courier Journal: Massie again votes 'no' on Trump's 'big, beautiful bill'
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Trump has pledged to "unleash" American oil and gas and these 15 US stocks have developments that are poised to benefit. We are going to use a two-stage DCF model, which, as the name states, takes into account two stages of growth. The first stage is generally a higher growth period which levels off heading towards the terminal value, captured in the second 'steady growth' period. In the first stage we need to estimate the cash flows to the business over the next ten years. Where possible we use analyst estimates, but when these aren't available we extrapolate the previous free cash flow (FCF) from the last estimate or reported value. We assume companies with shrinking free cash flow will slow their rate of shrinkage, and that companies with growing free cash flow will see their growth rate slow, over this period. We do this to reflect that growth tends to slow more in the early years than it does in later years. A DCF is all about the idea that a dollar in the future is less valuable than a dollar today, so we discount the value of these future cash flows to their estimated value in today's dollars: 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 Levered FCF ($, Millions) US$505.0m US$572.0m US$660.5m US$652.0m US$652.3m US$658.3m US$668.3m US$681.3m US$696.6m US$713.7m Growth Rate Estimate Source Analyst x6 Analyst x5 Analyst x2 Analyst x1 Est @ 0.05% Est @ 0.92% Est @ 1.52% Est @ 1.95% Est @ 2.25% Est @ 2.45% Present Value ($, Millions) Discounted @ 7.7% US$469 US$493 US$528 US$484 US$450 US$421 US$397 US$376 US$356 US$339 ("Est" = FCF growth rate estimated by Simply Wall St)Present Value of 10-year Cash Flow (PVCF) = US$4.3b The second stage is also known as Terminal Value, this is the business's cash flow after the first stage. 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Now the most important inputs to a discounted cash flow are the discount rate, and of course, the actual cash flows. Part of investing is coming up with your own evaluation of a company's future performance, so try the calculation yourself and check your own assumptions. The DCF also does not consider the possible cyclicality of an industry, or a company's future capital requirements, so it does not give a full picture of a company's potential performance. Given that we are looking at Huntington Ingalls Industries as potential shareholders, the cost of equity is used as the discount rate, rather than the cost of capital (or weighted average cost of capital, WACC) which accounts for debt. In this calculation we've used 7.7%, which is based on a levered beta of 1.106. Beta is a measure of a stock's volatility, compared to the market as a whole. 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