Trump's Tax-Cut and Spending Bill Clears First Hurdle in US House

Trump's Tax-Cut and Spending Bill Clears First Major Hurdle in US House

The US House of Representatives on Thursday cleared a critical procedural vote on President Donald Trump's sweeping tax-cut and spending package, opening the door to full congressional debate and a decisive vote expected in the coming days.

Often referred to by the former President as his "big, beautiful bill," the legislation includes significant federal tax cuts along with increased government spending in infrastructure, defense, and other priority sectors.

What Comes Next?

The bill’s progress past this initial stage is a key legislative victory for Trump’s economic agenda. The next step will involve debate on the House floor, followed by a full vote that could come as early as this weekend.

Analysts expect the bill to face challenges in the Senate, where opposition to certain spending provisions and tax measures remains strong, particularly among moderate lawmakers and fiscal conservatives.

What This Means for Markets

Markets are closely watching the progress of this bill, as its passage could:

• Boost business sentiment and investment
• Expand the federal deficit
• Influence interest rate outlooks
• Shape Trump’s campaign messaging in the run-up to the 2026 midterms