“THE ONE, BIG, BEAUTIFUL BILL” has PASSED the House of Representatives!” President Donald Trump announced Thursday morning after Republicans passed their budget reconciliation bill – by the narrowest of margins.
In by a 215-214 early morning vote, in which every Democrat voted “Nay” and three Republicans refused to vote “Yea,” the House passed the bill permanently extending Trump’s 2017 tax cuts set to expire at the end of the year.
Republicans Thomas Massie (R-Ky.) and Warren Davidson (R-Ohio) voted against the bill, while Freedom Caucus Chair Andy Harris (R-Md.) voted "present."
“This is arguably the most significant piece of Legislation that will ever be signed in the History of our Country!” Trump declared in a social media post, reporting that the bill includes:
- “MASSIVE Tax CUTS.”
- “No Tax on Tips.”
- “No Tax on Overtime.”
- “Tax Deductions when you purchase an American Made Vehicle.”
- “Strong Border Security measures.”
- “Pay Raises for our ICE and Border Patrol Agents.”
- “Funding for the Golden Dome.”
- “‘TRUMP Savings Accounts’ for newborn babies, and much more!”
“Now, it’s time for our friends in the United States Senate to get to work, and send this Bill to my desk AS SOON AS POSSIBLE! There is no time to waste,” Trump urged.
As with the House, the Senate version of the bill faces opposition, not just by Democrats, but also by some Republicans. However, unlike the Democrats’ blanket, unconditional opposition, the dissenting Republican senators broadly support the bill, but want specific changes to the bill before they’ll vote for it.
Failure to extend Trump’s tax cuts by the end of the year would increase Americans’ taxes by more than $4 trillion, Sen. John Kennedy (R-La.) warns.
To qualify for reconciliation status, the bill must address only government spending/funding issues.
A major advantage of a reconciliation bill is that can be passed by just a simple majority of votes because it can’t be filibustered. Otherwise, a bill would require 60 votes to end Senate debate and proceed to a vote on the legislation.