Trump's tax reform bill was narrowly approved in the House of Representatives
2025-05-22 11:22:02
The tax bill signed by U.S. President Donald Trump narrowly passed the House of Representatives on Thursday morning local time (215 votes to 214, with one abstention), advancing a sprawling multi-trillion dollar package that avoided year-end tax hikes at the expense of increasing the nation's debt burden. The bill will now go to the Senate, where Republican groups are pressing for broad changes. Lawmakers plan to vote on approval by August. Among them is a $4 trillion increase in the U.S. debt ceiling, which the Treasury Department predicts could lead to a U.S. default as early as August or September if the ceiling is not raised, adding urgency to the timeline.
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