House Prepares Vote on Trump $4T Tax Spending Bill

The U.S. House of Representatives, led by Republicans, is set to vote on President Donald Trump's expansive tax and spending bill, aiming to extend the 2017 tax cuts and introduce new tax breaks while increasing military and immigration spending. The legislation faces internal GOP divisions, particularly over Medicaid reforms and the cap on state and local tax deductions, but Speaker Mike Johnson remains optimistic about securing enough support. The bill is projected by the Congressional Budget Office to add roughly $3.8 trillion to $4 trillion to the national debt over the next decade, intensifying concerns following Moody’s downgrade of the U.S. credit rating. Critics warn the bill disproportionately benefits the wealthy while imposing significant cuts to social programs like healthcare and food assistance, which could harm low-income Americans. Despite White House claims that the bill would not increase the deficit, financial markets have reacted negatively, reflecting investor unease. If passed by the House, the bill will move to the Senate, where further amendments are expected amid ongoing bipartisan opposition.