The US house passes the budget decision to reduce taxes and expenses to trillions

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The US representative house has passed a budgetary decision in which trillion dollars are required in tax and expenditure cuts to raise President Donald Trump in order to take comprehensive changes in financial policy.

The resolution went to 215 with 217 votes after a campaign by the House spokesman Mike Johnson to get the Republican holdouts to support Trump’s “Big Beautiful Bill”.

The legislative template that will initiate another round of budget talks in the Senate proposes 4.5 m² tax cuts, about $ 2 $ 2 spending and hundreds of billions of dollars for military and border security over a decade.

“Today, the House’s Republicans have drawn the congress in more detail to broadcast President Trump’s full agenda – not only parts of them,” said the Republican leaders of the Republicans from House.

Since the Republicans have a razor -thin majority in the house, even a small number of different voices within the party would have endangered the farewell of the law.

Three House Republicans – Tim Burchett, Victoria Spartz and Warren Davidson – stated that they would be right against it, but everyone was behind the speaker. Thomas Massie was the only Republican who was right. Before the vote, Massie wrote on X: “If the Republican budget goes away, the deficit becomes worse, not better.”

Budget are non -binding resolutions that describe the fiscal goals. They signal the congress committees how much expenditure should increase or reduce, but do not determine any specific programs that should be attacked.

As soon as the Senate has adopted the budget, the Republicans of the congress can begin a process as “reconciliation” and ultimately adopt laws without saying goodbye to democratic support in order to extend the tax cuts issued during Trump’s first term in 2017.

The Legislate indicates the House Energy and Commerce Committee to reduce spending of USD 880 billion. Similarly, a call from the agricultural committee to reduce spending by $ 230 billion depends on a food aid scheme called Supplemental Nutrition Assistance Program.

According to the non -partisan committee for a responsible federal budget, the new measures for deficit would take at least 2.8 participants by 2034.

“It is really unfathomable that the reaction of the legislators can be adopted in the next ten years if they occur with multitrillion dollar deficits and debts in the direction of record highs,” said Maya Macguineas, President of the Committee.

But Joshua Bolten, the managing director of the Business Roundtable Lobby Group, welcomed “the house to advance the 2025 financial year. The voice of the house is a crucial moment in the work of the congress to protect and increase the economic advantages that the tax reform provides for American companies, workers and families. “

The house budget would also increase the $ 4T duties, which would temporarily eliminate the risk of a debt failure.

Democrats described the household as a “shame”. The leaders of the New Democrat Coalition, a group of moderate democratic legislators, said: “It revealed families by reducing the financing for critical programs that they rely on to pay for their bills and keep food on the table while Line the pockets of the Republican megabillionaire outdoors such as Elon Muschus with trillion dollars of tax cuts in deficits. “

Johnson stood against Republicans who had obtained the possible effects on Medicaid, as well as those who believed that the legislation should continue to proceed when returning.

The leaders of the party have defended the cuts and insist that they encourage economic growth and, together with other Trump measures such as tariffs, limited the limits of the deficit. Independent analysts contest the extent to which economic profits will increase the deficit.

The adoption of the draft law comes when the congress leaders fight to adopt laws in order to avoid state closure on March 14th.

The dollar and stock index futures in morning trade in Asia rose by Futures for the S&P 500 and Nasdaq 100 by 0.3 percent or 0.5 percent.

The dollar increased by $ 0.1 percent compared to a basket of the currencies of the trading partners, while the returns for 10 years of government bonds rose by 0.03 percentage points. Conversely, the income yields move to the prices.

Additional reporting by James Politi in Washington