Trump's 'One Big Beautiful Bill' Passes House Budget Committee

House Republicans have advanced President Trump's comprehensive tax cuts package, known as the "One Big, Beautiful Bill," out of the House Budget Committee after a narrow 17-16 vote with four conservative holdouts voting present. The bill aims to provide significant tax relief to the middle class, including a 15% tax reduction for those earning between $30,000 and $80,000 annually, increased child tax credits, optional newborn savings accounts, paid family leave enhancements, and additional tax relief for low- and middle-income Social Security recipients. Despite the committee's approval, conservative Republicans continue to demand deeper cuts to Medicaid and green energy programs, creating uncertainty about the bill's final passage. The bill will now move to the House Rules Committee before a full House floor vote, and it still faces challenges in the Senate, where some senators, including Sen. Lisa Murkowski, have expressed opposition unless certain Biden-era programs are funded. The White House warns that failure to extend Trump-era tax cuts could lead to a significant tax hike. Negotiations remain ongoing as the bill progresses through Congress.