House Republicans Advance $5 Trillion Trump Tax and Spending Bill

House Republicans are advancing a massive legislative package dubbed "THE ONE, BIG, BEAUTIFUL BILL," championed by President Donald Trump, which includes extensive tax cuts, spending cuts, and tougher border security funding. The proposal, estimated to cost around $3.7 to $4.9 trillion over the next decade, aims to make permanent many of Trump's original tax cuts while introducing new breaks such as eliminating taxes on tips, overtime, and interest on auto loans assembled in the U.S. To offset these costs, the bill rolls back clean energy credits and proposes significant Medicaid changes including work requirements and eligibility checks, sparking opposition from moderates, conservatives, and Democrats alike. Key points of contention within the Republican caucus include the size of the state and local tax (SALT) deduction cap and the timing of Medicaid work requirements, with some members pushing for higher SALT deductions and faster implementation of Medicaid changes. Speaker Mike Johnson remains optimistic about resolving these internal disagreements to bring the bill to a House floor vote before Memorial Day, despite ongoing protests and resistance from Democrats who criticize the bill as favoring the wealthy at the expense of vital social programs. The Congressional Budget Office warns the tax cuts could substantially reduce federal revenues, raising concerns about increasing national deficits and debt.