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House Budget Committee rejects Trump agenda bill in major setback for GOP leaders

  • House Republicans failed to pass a large tax breaks and spending cuts package through the Budget Committee on Friday, blocking Speaker Mike Johnson’s agenda.
  • The failure resulted from conservatives joining all Democrats in opposition, demanding deeper Medicaid and green energy tax credit cuts before offering support.
  • The bill, described by President Trump as "beautiful," extends previous income tax cuts, adds new ones, increases SALT deductions, and cuts over $1 trillion from health and food programs.
  • According to projections from a neutral federal agency, the bill would result in 7.6 million fewer individuals having health insurance and reduce monthly SNAP participation by about 3 million, while also adding to the country’s $36 trillion national debt.
  • The vote’s failure stalls Johnson’s push to approve the package next week, with holdout lawmakers negotiating changes over the weekend amid warnings of significant public harm and political division.
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Fortune broke the news in New York, United States on Wednesday, May 14, 2025.
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