House Budget Committee Approves $1.5 Trillion Spending Cuts

The House Budget Committee, led by Speaker Mike Johnson and other Republican leaders, successfully advanced a budget resolution with a party-line vote of 21-16, marking a significant step toward enacting President Trump's policy priorities. The resolution outlines a target for $1.5 trillion in spending cuts, includes $300 billion for border security and defense, and proposes a $4 trillion increase to the debt limit. Republicans aim to extend Trump's 2017 tax cuts, with a total projected deficit impact capped at $4.5 trillion. The proposed legislation is expected to go to the full House for a vote later this month. The reconciliation process allows Republicans to pass this budget without Democratic support, focusing on key issues such as national security and tax reforms. However, the House and Senate must still reconcile their versions before the bill can reach Trump's desk for approval.