Trump’s ‘Big’ and ‘Beautiful’ tax cut bill suffers a major blow as his own party fails to pass the legislation

Quick Summary:

Republicans warn the tax cuts alone would pile onto the nation's $36 trillion debt.

The conservatives and the New Yorkers are at odds, each jockeying for their priorities as Johnson labors to keep the package on track to pass the House by Memorial Day and then onto the Senate.

Johnson, with few votes to spare from his slim majority, has insisted Republicans will are on track with the sprawling package that he believes will inject a dose of stability into a wavering economy.

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Article Details

Author / Journalist: Lisa Mascaro, Kevin Freking, The Associated Press

Category: EconomyBusiness

Markets: United States

Topics: Republican Party IRS Taxes Donald Trump Congress

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-05-16 @ 17:59:27 (1 days ago)

News Timezone: GMT +8:00

News Source URL: fortune.com

Language: English

Article Length: 989 words

Reading Time: 6 minutes read

Sentences: 4 lines

Sentence Length: 248 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Fortune

News ID: 28749387

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Official Website: fortune.com

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Year Established: 1929

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News Last Updated: 11 hours ago

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