Tuesday, 10 Jun 2025
  • Contact
  • Privacy Policy
  • Terms & Conditions
  • DMCA
logo logo
  • World
  • Politics
  • Crime
  • Economy
  • Tech & Science
  • Sports
  • Entertainment
  • More
    • Education
    • Celebrities
    • Culture and Arts
    • Environment
    • Health and Wellness
    • Lifestyle
  • 🔥
  • Trump
  • House
  • White
  • VIDEO
  • ScienceAlert
  • Trumps
  • Watch
  • man
  • Health
  • Colossal
Font ResizerAa
American FocusAmerican Focus
Search
  • World
  • Politics
  • Crime
  • Economy
  • Tech & Science
  • Sports
  • Entertainment
  • More
    • Education
    • Celebrities
    • Culture and Arts
    • Environment
    • Health and Wellness
    • Lifestyle
Follow US
© 2024 americanfocus.online – All Rights Reserved.
American Focus > Blog > Economy > House Republicans reach deal on Trump’s $3tn budget bill, Johnson says
Economy

House Republicans reach deal on Trump’s $3tn budget bill, Johnson says

Last updated: May 21, 2025 6:32 am
Share
House Republicans reach deal on Trump’s tn budget bill, Johnson says
SHARE

Unlock the White House Watch newsletter for free

If you’re looking for a comprehensive guide to understanding what Trump’s second term means for Washington, business, and the world, look no further than the White House Watch newsletter. With in-depth analysis and expert insights, this newsletter provides valuable information on the impact of Trump’s policies on various sectors.

In recent news, Speaker of the US House of Representatives, Mike Johnson, has announced a breakthrough in negotiations with Republican holdouts over state tax deductions that have been a major sticking point in Donald Trump’s fiscal legislation. Johnson revealed that a $3 trillion-plus bill will be brought to the House floor for a vote, with plans to expedite the process as early as Wednesday.

The global markets have been closely monitoring the progress of this bill, as economists raise concerns about the US’s growing fiscal deficit and bond markets show signs of unease over the country’s debt burden. Following the announcement, longer-dated Treasury yields saw an increase, indicating market expectations of a surge in government debt issuance.

Despite initial opposition from Republican lawmakers in high-tax states, an agreement has been reached to raise the cap on state and local tax deductions, known as Salt. This compromise is seen as a significant improvement for constituents in these states, paving the way for the bill’s passage in the House.

The legislation will then move to the Senate, where Republicans hold the majority. However, Democrats are expected to oppose the bill in both chambers. In a bid to secure support from Republican lawmakers in key states, Johnson offered to raise the Salt deduction cap to $40,000 with income limits.

See also  Yes, Biden Spent Millions on Transgender Animal Experiments – The White House

If passed, this bill will be a cornerstone of Trump’s second-term agenda, extending the tax cuts implemented in 2017. It is seen as a crucial political victory for the president, whose approval ratings have been under scrutiny amidst market volatility caused by trade tensions.

While the proposed tax cuts have raised concerns about increasing the US’s debt burden, Trump has reassured critics that the bill focuses on cutting waste, fraud, and abuse rather than essential services. The Committee for a Responsible Federal Budget estimates that the bill could add over $3.3 trillion to the national debt over the next decade, leading to a record debt-to-GDP ratio.

Despite opposition, Trump remains steadfast in his support for the bill, emphasizing the need for fiscal responsibility and significant spending cuts. With the promise of individual income tax cuts, increased deductions, and reduced taxes on tips and overtime pay, the bill aims to stimulate economic growth and support American workers.

As the debate continues in Congress, Trump’s push for the bill’s passage underscores his commitment to delivering on his campaign promises and securing a strong economic future for the country. Stay tuned for further updates on this evolving legislative process.

Additional reporting by Kate Duguid

TAGGED:3tnBillbudgetdealHouseJohnsonReachRepublicansTrumps
Share This Article
Twitter Email Copy Link Print
Previous Article The US government stole the Black Hills. Now it’s clear-cutting them. The US government stole the Black Hills. Now it’s clear-cutting them.
Next Article California man accused in recent murder was let out of jail on ‘mental health diversion’ six months ago California man accused in recent murder was let out of jail on ‘mental health diversion’ six months ago
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Popular Posts

Week in Review: Notorious hacking group tied to the Spanish government

Welcome to This Week in Tech! Welcome back to This Week in Tech! We have…

May 24, 2025

Starbucks stock slides as CEO Brian Niccol calls earnings miss ‘disappointing’

Starbucks (SBUX) stock faced a significant setback on Wednesday, dropping 5.7% following the release of…

April 30, 2025

Cicada Season Is Here! | JS Impact

The buzzing sound of cicadas fills the air as Brood XIV emerges once again after…

May 31, 2025

Music Legend Sly Stone Dead at 82

Sly Stone Dead at 82 Published June 9, 2025 12:30 PM PDT Sly Stone --…

June 9, 2025

83-year-old Colorado man claims $3.1 million lottery jackpot

A lucky man from Colorado is celebrating this week after winning a whopping $3 million…

October 10, 2024

You Might Also Like

Qualcomm to acquire Alphawave Semi in .4bn deal
Economy

Qualcomm to acquire Alphawave Semi in $2.4bn deal

June 10, 2025
Republicans more likely to use it
Economy

Republicans more likely to use it

June 10, 2025
China’s .1tn asset manager becomes star player on ‘national team’
Economy

China’s $1.1tn asset manager becomes star player on ‘national team’

June 10, 2025
Trump’s second term is creating ‘a limbo moment’ for US battery recyclers
Environment

Trump’s second term is creating ‘a limbo moment’ for US battery recyclers

June 10, 2025
logo logo
Facebook Twitter Youtube

About US


Explore global affairs, political insights, and linguistic origins. Stay informed with our comprehensive coverage of world news, politics, and Lifestyle.

Top Categories
  • Crime
  • Environment
  • Sports
  • Tech and Science
Usefull Links
  • Contact
  • Privacy Policy
  • Terms & Conditions
  • DMCA

© 2024 americanfocus.online –  All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?