GOP Tax, Spending Bill Defeated in Committee

House Republicans' major legislative package, dubbed 'One Big Beautiful Bill,' was voted down in the House Budget Committee after key GOP fiscal conservatives joined Democrats in opposition, jeopardizing the bill's chances of passing before Memorial Day. The sweeping bill combines priorities on taxes, border security, energy, and defense, but faced criticism over proposed spending cuts, unresolved SALT deduction limits, and concerns about its impact on the federal deficit. Despite President Trump's push for party unity, internal divisions over Medicaid cuts and fiscal discipline led to the committee defeat. The Ways and Means Committee had previously advanced the tax elements of the bill, including making 2017 tax cuts permanent and expanding the child tax credit, but contentious issues remain. The failure marks a significant setback for Republican efforts to advance Trump's legislative agenda. Further negotiations and potential revisions are expected as the bill's future in Congress remains uncertain.