Latest news with #spendingpackage
Bloomberg
9 hours ago
- Business
- Bloomberg
Senate Unveils New Trump Tax Draft With Plans to Vote Soon
Senate Republicans unveiled a new version of their $4.2 trillion tax and spending package, moving closer to a vote as they near a July 4 deadline set by President Donald Trump. The new draft reflects compromises among warring factions of the Senate GOP which has been divided over how much to cut safety-net programs such as Medicaid and how rapidly to phase out of renewable energy tax credits enacted under the Biden administration.
Bloomberg
03-06-2025
- Business
- Bloomberg
Trump Blasts Rand Paul as ‘Crazy' for Resisting Tax-Cut Bill Over Debt Limit
President Donald Trump attacked fiscal conservative Rand Paul as 'crazy' Tuesday morning as he pressed reluctant Republican senators to move forward swiftly with his massive tax and spending package. The Kentucky senator earlier said on CNBC that he wouldn't vote for the president's signature legislation because it would increase the legal US debt limit.
Bloomberg
28-05-2025
- Business
- Bloomberg
The GOP's Budget Bill Will Pass in Spite of Itself
'Will it pass?' a Republican donor and occasional source from New York asked me, referring to the sweeping $2.5 trillion reconciliation package of tax cuts and fresh spending priorities working its way through Congress. I've been getting that question a lot lately. Mostly, I hear from interested political observers who work in business or, like my donor-source, finance. Either way, they're trying to game out future tax and regulatory policy and figure out the impact on the markets, their industry, their clients. So, what do I tell them? From the very beginning, my answer has been the same: 'Eventually, it will pass.'
Bloomberg
23-05-2025
- Politics
- Bloomberg
Trump Tax Bill Faces Likely Changes, Delays in Senate
By Updated on Save The Republican legislative balancing act now shifts to the Senate. Senate Majority Leader John Thune (R-S.D.) said this week House Republicans would like to see as few changes possible to the sweeping tax and spending package (H.R. 1) the House passed by a single vote this morning. But he was quick to add that the Senate will have its say as it aims to get the massive reconciliation package a step closer to becoming law.
Bloomberg
21-05-2025
- Business
- Bloomberg
Trump Tax Bill Threatened by Ultraconservatives After SALT Deal
Conservative hardliners threatened to block President Donald Trump's massive tax and spending package just as an agreement to increase the state and local tax deduction removed a key obstacle. House Speaker Mike Johnson announced Wednesday that he had an agreement with lawmakers from high-tax states to increase the limit on the SALT deduction to $40,000 and shortly after ultraconservatives lashed out.
