Republican senators may block Trump's tax package due to deficit.
02.06.2025
1289

Journalist
Shostal Oleksandr
02.06.2025
1289

Republicans in the U.S. House of Representatives have backed a tax and budget package that aligns with President Donald Trump's priorities. They hope to complete work on the bill by July 4 so it can take effect during Independence Day celebrations.The package includes the preservation of tax breaks enacted by Trump in 2017 and new tax breaks for certain groups of the population. However, it also entails historic cuts to programs for low-income families, such as health insurance and food stamps. After approval in the House, the bill will go to a vote in the Senate.According to Howard Gleckman from the Urban-Brookings Tax Policy Center, the Senate bill will be similar to the House version, but discussions on Medicaid provisions and other changes are expected. Republicans are fighting for a balanced budget through new tax provisions, but are alarmed by the potential costs that may arise. A compromise is necessary for the bill to benefit the entire American population.
Read also
- Supermarkets or markets: Ukrainians were shown where young potatoes have sharply decreased in price
- The cities and gas stations with the most expensive gasoline: where to refuel for 8 UAH less
- Suzuki halts production of popular car due to China's restrictions on rare earth elements
- China may lose up to 5% of its wheat harvest due to drought
- The AI Boom Could Undermine the UK’s Decarbonization Plans
- China tries to stop the price war in the electric vehicle market