House Republicans pass Trump's 'Big Beautiful Bill'
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The Bond Market Hates His 'Beautiful Bill'
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The Republican-led House narrowly passed President Donald Trump’s sweeping tax and spending bill late early Thursday morning, sending the package to the Senate where it is likely to be revised.
It would impose work requirements for low-income adults to receive Medicaid health insurance and increase them for food assistance as well as cut funding for services like birth control to the nation’s biggest abortion provider. Supporters of the bill say the moves will save money, root out waste and encourage personal responsibility.
The one-seat majority that voted to pass President Donald Trump’s ‘big, beautiful bill” Thursday would have had additional room to
Others could see their monthly benefits reduced if the bill were to become law, according to the nonpartisan Congressional Budget Office.
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Further into the future, the bill will likely saddle America with a higher fiscal deficit, as tax cuts are coupled with increased spending on defense.
New York City-area Republican members of Congress were able to include a huge increase in property tax deductions in the so-called "big, beautiful bill" passed on Thursday.
The provision is a result of a last-minute change to the bill before its passage out of the House early Thursday.