Billy House
ReporterBilly House is a reporter with Bloomberg.
Billy House is a reporter with Bloomberg.
Fiscal conservatives in the party want steep spending cuts to help offset the multitrillion-dollar tax-cut package.
Republican leaders say they are closer to a plan to extend the 2017 tax cuts and increase the debt ceiling.
GOP congressional leaders didn't negotiate with Democrats on the President Donald Trump-backed funding measure, which runs through Sept. 30.
House Speaker Mike Johnson, aided by a flurry of last-minute phone calls Trump had with wavering Republicans, overcame resistance from fiscal conservatives.
Treasury Secretary Scott Bessent and congressional leaders will begin meeting weekly as Republicans look to shape a tax cut package with a year-end deadline.
The proposal aims to smooth the passage of Trump's top legislative priorities.
President Donald Trump outlined his tax priorities in a meeting with Republican lawmakers, including expanding the state and local tax deduction.
When Elon Musk's team gained access to the computer network where data of nearly every American is stored, it caused alarm across the country.
The ambitious agenda includes extending Trump's signature tax cuts and enabling more oil and gas production.
Trump has expressed interest in reviewing options for adjusting the cap on the state and local tax deduction but is not currently advocating for a specific fix.