The Japan Times - Trump tax bill stalled by Republican rebellion in Congress

EUR -
AED 4.32916
AFN 75.428284
ALL 95.522204
AMD 439.427227
ANG 2.109493
AOA 1081.922073
ARS 1622.381859
AUD 1.642598
AWG 2.121415
AZN 2.005552
BAM 1.957908
BBD 2.373215
BDT 144.566647
BGN 1.965965
BHD 0.444766
BIF 3500.335085
BMD 1.178564
BND 1.497687
BOB 8.17166
BRL 5.849923
BSD 1.178349
BTN 109.729356
BWP 15.797742
BYN 3.342242
BYR 23099.854431
BZD 2.369811
CAD 1.608563
CDF 2723.661293
CHF 0.918219
CLF 0.026403
CLP 1039.163576
CNY 8.035154
CNH 8.03308
COP 4218.257346
CRC 536.868955
CUC 1.178564
CUP 31.231946
CVE 110.608334
CZK 24.282193
DJF 209.454292
DKK 7.473144
DOP 71.12616
DZD 155.794193
EGP 61.282728
ERN 17.67846
ETB 185.15586
FJD 2.587478
FKP 0.871712
GBP 0.8709
GEL 3.164437
GGP 0.871712
GHS 13.046819
GIP 0.871712
GMD 86.035536
GNF 10344.846321
GTQ 9.008547
GYD 246.521255
HKD 9.228922
HNL 31.361831
HRK 7.533734
HTG 154.303526
HUF 361.73675
IDR 20190.097767
ILS 3.522719
IMP 0.871712
INR 109.751474
IQD 1543.918842
IRR 1559240.173778
ISK 143.183545
JEP 0.871712
JMD 186.660984
JOD 0.835629
JPY 187.138331
KES 152.211378
KGS 103.065391
KHR 4726.041888
KMF 492.639799
KPW 1060.706051
KRW 1734.56316
KWD 0.363316
KYD 0.981941
KZT 549.592439
LAK 25863.586914
LBP 105524.015243
LKR 372.87516
LRD 217.150421
LSL 19.281809
LTL 3.479993
LVL 0.712901
LYD 7.454379
MAD 10.876673
MDL 20.184391
MGA 4886.326085
MKD 61.639195
MMK 2474.700653
MNT 4212.394518
MOP 9.503872
MRU 45.268733
MUR 54.709085
MVR 18.209397
MWK 2046.574156
MXN 20.388803
MYR 4.658278
MZN 75.375029
NAD 19.281277
NGN 1586.240834
NIO 43.288623
NOK 10.982216
NPR 175.56657
NZD 2.002834
OMR 0.453097
PAB 1.178349
PEN 4.050708
PGK 5.12528
PHP 70.594833
PKR 328.642353
PLN 4.229807
PYG 7513.089609
QAR 4.292297
RON 5.098823
RSD 117.376709
RUB 88.322355
RWF 1721.292724
SAR 4.420634
SBD 9.47414
SCR 17.691784
SDG 708.316634
SEK 10.756991
SGD 1.49739
SHP 0.879917
SLE 29.05146
SLL 24713.893312
SOS 673.549869
SRD 44.136076
STD 24393.895321
STN 24.8677
SVC 10.309926
SYP 130.286227
SZL 19.281023
THB 37.761394
TJS 11.158626
TMT 4.130867
TND 3.403102
TOP 2.837699
TRY 52.889355
TTD 7.996474
TWD 37.046394
TZS 3067.713739
UAH 52.045473
UGX 4365.700704
USD 1.178564
UYU 46.83944
UZS 14272.410221
VES 566.454524
VND 31035.125853
VUV 137.81807
WST 3.200022
XAF 656.652898
XAG 0.014782
XAU 0.000244
XCD 3.185128
XCG 2.123651
XDR 0.817919
XOF 656.460478
XPF 119.331742
YER 281.264234
ZAR 19.275773
ZMK 10608.492747
ZMW 22.299632
ZWL 379.497128
  • RBGPF

    -13.5000

    69

    -19.57%

  • CMSC

    -0.0398

    22.73

    -0.18%

  • RIO

    -0.3200

    99.83

    -0.32%

  • CMSD

    0.0050

    23.085

    +0.02%

  • BCC

    0.9300

    83.97

    +1.11%

  • NGG

    -0.9000

    86.02

    -1.05%

  • GSK

    -1.0000

    57.35

    -1.74%

  • BCE

    -0.1400

    23.95

    -0.58%

  • RELX

    0.0600

    36.74

    +0.16%

  • AZN

    -4.1100

    200.69

    -2.05%

  • BTI

    0.3800

    57.06

    +0.67%

  • JRI

    0.0400

    13.13

    +0.3%

  • VOD

    0.1700

    15.65

    +1.09%

  • RYCEF

    -0.4600

    17.2

    -2.67%

  • BP

    0.5300

    45.12

    +1.17%

Trump tax bill stalled by Republican rebellion in Congress
Trump tax bill stalled by Republican rebellion in Congress / Photo: Win McNamee - POOL/AFP/File

Trump tax bill stalled by Republican rebellion in Congress

Republican leaders in the US Congress delayed a key vote for hours on Donald Trump's signature tax and spending bill Wednesday as they scrambled to win over a group of rebels threatening to torpedo the centerpiece of the president's domestic agenda.

Text size:

Trump is seeking final approval in the House of Representatives for his Senate-passed "One Big Beautiful Bill" -- but faces opposition on all sides of his fractious party over provisions set to balloon the national debt while launching a historic assault on the social safety net.

House Speaker Mike Johnson told lawmakers to return to their offices, holding open a series of afternoon procedural votes required before final approval for more than three hours after it was first called -- with no sign of the stalemate breaking.

Meanwhile his lieutenants huddled in tense meetings with holdouts behind the scenes.

"We're going to get there tonight. We're working on it and very, very positive about our progress," Johnson told reporters at the Capitol, according to Politico.

Originally approved by the House in May, the bill squeezed through the Senate on Tuesday by a solitary vote but had to return to the lower chamber Wednesday for a rubber stamp of the Senate's revisions.

"This bill is President Trump's agenda, and we are making it law," Johnson said in a determined statement, projecting confidence that Republicans were "ready to finish the job."

The package honors many of Trump's campaign promises, boosting military spending, funding a mass migrant deportation drive and committing $4.5 trillion to extend his first-term tax relief.

But it is expected to pile an extra $3.4 trillion over a decade onto the country's fast-growing deficits, while forcing through the largest cuts to the Medicaid health insurance program since its 1960s launch.

Fiscal hawks in the House, meanwhile, are chafing over spending cuts that they say fall short of what they were promised by hundreds of billions of dollars.

Johnson has to negotiate incredibly tight margins, and can likely only lose three lawmakers among more than two dozen who have declared themselves open to rejecting the bill.

- 'Abomination' -

Lawmakers were hoping to return from recess early Wednesday to begin voting straight away, although they have a cushion of two days before Trump's self-imposed July 4 deadline.

The 887-page text only passed in the Senate after a flurry of tweaks that pulled the House-passed text further to the right.

Republicans lost one conservative who was angry about adding to the country's $37 trillion debt burden and two moderates worried about almost $1 trillion in health care cuts.

Some estimates put the total number of recipients set to lose their health insurance at 17 million, while scores of rural hospitals are expected to close.

Meanwhile changes to federal nutrition assistance are set to strip millions of the poorest Americans of their access to the program.

Johnson will be banking on Trump leaning on waverers, as he has in the past to turn around contentious House votes that were headed for failure.

The president has spent weeks cajoling Republicans torn between angering welfare recipients at home and incurring his wrath.

Trump pressured House Republicans to get the bill over the line in a private White House meeting with several holdouts on Wednesday.

"Our Country will make a fortune this year, more than any of our competitors, but only if the Big, Beautiful Bill is PASSED!" he said in a Truth Social post.

House Democrats have signaled that they plan to campaign on the bill to flip the chamber in the 2026 midterm elections, pointing to analyses showing that it represents a historic redistribution of wealth from the poorest Americans to the richest.

"Shame on Senate Republicans for passing this disgusting abomination," House Minority Leader Hakeem Jeffries told reporters.

K.Hashimoto--JT