Risk Warning: Beware of illegal fundraising in the name of 'virtual currency' and 'blockchain'. — Five departments including the Banking and Insurance Regulatory Commission
Information
Discover
Search
Login
简中
繁中
English
日本語
한국어
ภาษาไทย
Tiếng Việt
BTC
ETH
HTX
SOL
BNB
View Market
U.S. House of Representatives passes budget plan that lays the groundwork for Trump's tax cuts, debt ceiling increase
2025-04-10 15:36

Odaily News The U.S. House of Representatives passed a budget plan on Wednesday that lays the groundwork for extending Trump's 2017 tax cuts, even though all Democrats and two Republicans who worried that spending cuts were not sufficient voted against it. The House passed the budget by a vote of 216 to 214, a preliminary but necessary result. It will allow Republicans to bypass Democratic opposition and pass a tax cut bill along party lines later this year. Republicans will work on those tax cuts in the coming months. The legislation passed Thursday amounted to a broad budget blueprint with few details. With the budget passed, the next package would cut taxes by up to $5.3 trillion over a decade and raise the debt ceiling by $5 trillion in exchange for $4 billion in spending cuts. U.S. House Speaker Johnson had hoped to pass the bill on Wednesday, but he delayed action after some Republicans objected that the bill did not cut enough spending. (Jin Shi)