Posted on 07/03/2025 11:48:35 AM PDT by Navy Patriot
House Republicans propelled President Donald Trump’s $4.5 trillion tax breaks and spending cuts bill to final congressional passage Thursday, overcoming multiple setbacks to approve his signature second-term policy package before a Fourth of July deadline.
The tight roll call, 218-214, came at a potentially high political cost, with two Republicans joining all Democrats opposed. GOP leaders worked overnight and the president himself leaned on a handful of skeptics to drop their opposition and send the bill to him to sign into law. Democrat leader Hakeem Jeffries of New York delayed voting by holding the floor for more than eight hours with a record-breaking speech against the bill.
“We have a big job to finish,” said House Speaker Mike Johnson, R-La. “With one big beautiful bill we are going to make this country stronger, safer and more prosperous than ever before.”
The outcome delivers a milestone for the president, by his Friday goal, and for his party,. It was a long-shot effort to compile a lengthy list of GOP priorities into what they called his “one big beautiful bill,” an 800-plus page measure. With Democrats unified in opposition, the bill will become a defining measure of Trump's return to the White House, aided by Republican control of Congress.
At its core, the package's priority is $4.5 trillion in tax breaks enacted in 2017 during Trump's first term that would expire if Congress failed to act, along with new ones. This includes allowing workers to deduct tips and overtime pay, and a $6,000 deduction for most older adults earning less than $75,000 a year.
There's also a hefty investment, some $350 billion, in national security and Trump's deportation agenda and to help develop the “Golden Dome” defensive system over the U.S.
(Excerpt) Read more at newsmax.com ...
Elon Musk
“Polls show that this bill is political suicide for the Republican Party”
https://x.com/elonmusk/status/1939069416756650401
Oh well, having the majority was nice while it lasted...
The Big Beautiful Bankruptcy Bill...
Polls showed Kamala was winning until she didn’t.
It all depends on how the economy reacts to it.
Take solace that your Democrats held the line.
/s
Blow it out your mASSie!
So they passed the “Stop the Income Tax Bracket Increase Bill”
I can’t believe the Democrats wanted tax brackets to go up
10% > 10%
12% > 15%
22% > 25%
24% > 28%
32% > 33%
35% > 35%
37% > 39.6%
Those big increases would have created a lot of pain. The GOP did the right thing preventing the Democrat supported increase.
Who were the other holdouts? Primary time
For those of you concerned with the huge spending in the BBB, know this — even with the Big Beautiful Bill now passed, rescission remains a live option for cutting spending, though its scope and political viability are more limited post-enactment.
Rescission is a presidential tool to propose canceling previously approved budget authority. Under the Impoundment Control Act of 1974, the president can send a rescission request to Congress, which then has 45 days to approve it via a simple majority in both chambers.
Procedurally, rescission is still viable because it applies to unobligated funds — even after a bill like BBB is passed.
Politically, it’s trickier. The BBB passed by a razor-thin margin (218–214), and any rescission effort could reopen intra-party tensions, especially it targets programs that moderates or rural-state Republicans support.
Strategically, rescission could serve as a pressure valve for fiscal conservatives who feel the BBB didn’t go far enough in cutting spending.
Know this — rescission is still on the table — but it’s more of a scalpel than a chainsaw. It won’t reverse the structural spending increases in the BBB, but it could trim around the edges and signal continued fiscal discipline.
We are between a rock and a hard place, either let it die and risk having the largest tax increase in modern history or pass it warts and all and continue doing rescission later. We need to pressure Congress on this. The price of freedom is eternal vigilance!
"The Tax Policy Center, which provides nonpartisan analysis of tax and budget policy, projected the bill would result next year in a $150 tax break for the lowest quintile of Americans, a $1,750 tax cut for the middle quintile and a $10,950 tax cut for the top quintile. That's compared with what they would face if the 2017 tax cuts expired."
Thanks, Seek!
Democrats are tax and spend. Trump delivers tax cuts. Good news.
Not even close. Don’t be gullible.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.