US President Donald Trump secured a significant victory after Republicans in the House of Representatives narrowly approved a multi-trillion dollar tax cut and cap plan.
This gives a major boost to the Trump administration's 2025 agenda. The 217-215 green light was considered a key initial test for House Speaker Mike Johnson, who canceled an earlier vote due to insufficient support: "We still have a lot of work to do, but we will deliver on the America First agenda. We will deliver on the whole of it, not just parts of it. And this is just the first step in that process."
A number of Republicans have been calling for more fiscal discipline, from a budget that includes $4.5 trillion in tax cuts, funded in part by spending cuts but also potentially increasing the U.S. debt. But the bill was voted down along party lines, with Democrats opposing it and only one Republican not supporting it. The budget calls for $2 trillion in spending cuts over 10 years to fund Trump's agenda.
It includes more than $100 billion in new spending on immigration and the military. However, a number of other steps need to be taken before the spending plan can become law. Even if both houses of Congress agree, many details still need to be negotiated before the plan goes to the President's desk for signature.
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