U.S. House of Representatives passes budget plan that lays the groundwork for Trump's tax cuts, debt ceiling increase

Odaily Planet Daily News - The U.S. House of Representatives passed a budget plan on Wednesday, laying the foundation for extending Trump's 2017 tax cuts, even though all Democrats and two Republicans who were concerned that spending cuts were not sufficient voted against it. The House passed the budget by 216 votes in favor and 214 votes against, a preliminary but necessary result. This will allow Republicans to bypass Democratic opposition and pass a tax cut bill along party lines later this year. Republicans will develop these tax cuts in the coming months. The legislation passed on Thursday amounted to a broad budget blueprint with few details. With the passage of the budget, the next package will cut taxes by up to $5.3 trillion over ten years and raise the debt ceiling by $5 trillion in exchange for $4 billion in spending cuts. U.S. House Speaker Johnson had hoped to pass the bill on Wednesday, but he delayed action because some Republicans objected that the bill did not cut spending enough. (Jin Shi)