President Trump spoke to House Speaker Mike Johnson on Capitol Hill on Tuesday. Trump met with House Republicans on the spot and held rally support for his legislative agenda. Kevin Dietsch/Getty Images Closed subtitles
House Republicans released the latest version of the massive bill on Wednesday, hoping to advance President Trump’s domestic agenda by this weekend. The new legislation is intended to meet competition requirements for fiscal hawks who want to reduce the deficit to blue state Republicans want to lock in their voters with more favorable taxes.
The latest legislation is at the end of a day of nearly constant negotiations within the Republican Party. Negotiations include Trump, House Speaker Mike Johnson, R-la on Wednesday afternoon. a White House meeting, as well as several skeptics and skeptics.
After the meeting, Johnson told reporters that he was optimistic about the passage of the bill as early as Thursday.
“The plan is moving forward as expected,” Johnson said. “I think all of our colleagues here will really like this final product.”
Johnson will need almost unanimous support from his members to pass, which could face further challenges in the Senate. Democrats are expected to vote unanimously against the bill.
A long legislation lasts more than 1,000 pages. This is what is in the latest version.
Note: This is the list of parts that will be updated.
Republicans plan to demand tax cuts of about $3.8 trillion, most of which will be extended by extending Trump's 2017 tax cuts. These cuts will expire at the end of the year, so if there is no extension, most families will see their tax increases.
The bill includes temporary changes that aim to provide good assurances on several Trump’s campaign commitments, including no tax on overtime earned between 2026 and 2028. The plan will also allow Americans to deduct interest on car loans — but only if cars earned in the U.S. can increase the child tax credit to $2,500 until 2028, but only for people with social security. After that, it will drop to $2,000 and grow with inflation. This will allow higher standard deductions to be made by 2028 and fulfill Trump’s guarantees not to be taxed to avoid taxing Social Security benefits, which will allow those over 65 to deduct an additional $4,000 deduction, but for those with higher incomes, the bill will deduct an additional deduction.
One of the toughest issues during negotiations is national and local tax breaks, also known as salt. The deduction is important for a handful of Republican lawmakers from blue states such as California and New York. Tax cuts in 2017 will deduct salt deductions of $10,000. The House plans to raise the cap for married couples who earn up to $500,000.
The bill includes several changes to Medicaid – a federal/state health care program for low-income, elderly, and disabled Americans. This remains one of the most divided issues in Republican negotiations, but lawmakers believe the changes introduced by the bill will bring hundreds of billions of dollars in necessary savings by introducing new job requirements. Starting from the end of 2026, children without disabilities will work 80 hours a month to receive benefits.
The legislation also allowed Republicans in the program to behave as “waste fraud and abuse” in the program by shifting admission from once a year to every six months and adding additional income and residence verification to the enrolled population.
Republican legislation also outlines reforms to the supplemental nutrition assistance program, called SNAP, which benefits from 40 million low-income Americans. The bill increases the number of states’ contributions to the program and requires work requirements for sound snapshot receptions without dependents. Independent estimates suggest that these changes may cause many to lose coverage. Like the Medicaid talk, some Republican lawmakers have participated in the program given its wide range.
The House bill would increase the country's debt limit by $4 trillion. Increase debt limits without authorization for new expenditures. Instead, it allows the government to pay for plans already authorized by Congress. If the cap is not raised and the government cannot meet its obligations, it will risk defaulting – the situation economists say is disastrous not only for the United States, but also the global financial system. Treasury Secretary Scott Bessent told Congress that if nothing is done, the U.S. will run out of money in August, meaning the clock is ticking.