U.S. Republicans Approve Resolution for Massive Tax and Spending Cuts
X/ @TaxNotes
February 26, 2025 Hour: 11:17 am
The resolution serves as a starting point for negotiating the budget bill, but it does not have the force of law.
On Tuesday, the Republicans, who control the U.S. House of Representatives, approved a budget resolution that includes massive tax and spending cuts to align with President Donald Trump’s agenda.
RELATED:
Trump Lifts Restrictions on U.S. Weapons Use in International Humanitarian Law Violations
Specifically, the fiscal plan envisions a US$4.5 trillion tax cut and a US$2 trillion reduction in budgetary spending. The resolution was approved with 217 votes in favor—all from Republicans—and 215 against—all from Democrats and one Republican.
Some Republicans expressed concerns that the spending cuts might not offset the tax benefits, potentially leading to an increase in the already high U.S. public debt.
The approved resolution serves as a starting point for negotiating the budget bill, but it does not have the force of law nor does it directly implement spending.
Currently, Trump wants to extend the tax benefits he approved during his first term (2017-2021), which are set to expire in 2025, while also seeking to fulfill his promise of reducing the size of the government.
However, some of the planned cuts are also raising concerns among Republican lawmakers, as they would affect key social programs that could harm their constituents.
teleSUR/ JF
Sources: EFE
