Trump's massive tax cut bill passes major U.S. House committee vote | Donald Trump News

Bill will increase the U.S. $3.62 billion debt in the next decade, nonpartisan analysts said.

U.S. President Donald Trump's tax clearance bill has been approved by a major congressional committee to facilitate passage that could pass in the House later this week.

The rare Sunday night vote marked a huge victory for Trump and House Speaker Mike Johnson after Hardline Republican conservatives on Friday blocked the bill from clearing the House Budget Committee over disputes involving cutting Medicaid health care programs for low-income Americans and repealing the green energy tax credit.

Four hardline members of the committee's 21 Republicans allowed the legislation to be promoted by voting "now." The bill passed 17-16, and all Democrats voted on it.

The Hardwoods spent most of the day in closed talks with House Republican leaders and White House officials.

Johnson would meet with Republican lawmakers shortly before the meeting and told reporters that the changes agreed to were "just a few minor changes. It's not a big deal."

Republican House Budget Chairman Jodey Arrington said he hopes the deliberations continue to move forward “until we put this big and beautiful bill in front of the House.”

Nonpartisan analysts say the bill will extend Trump’s first-year legislative victory in 2017, adding $3 trillion to $5 trillion over the next decade to $36.2 trillion in national debt.

Credit rating agency Moody's cited rising debt that is expected to reach 134% of GDP by 2035 ahead of Friday's decision to lower U.S. credit rating.

Treasury Secretary Scott Bessent said in an interview with CNN on Sunday that the bill would stimulate economic growth enough to offset any growth in debt, adding that he doesn't have much trust in Moody's downgrade.

Economic experts warn that the downgrade – after the previous Fitch rating and the Standard & Poor’s – is clear signs that the U.S. is overdeveloped and lawmakers need to increase revenue or spend less.

Trump's Republicans have a 220-213 majority in the House and are divided on the extent to which spending is cut to offset the cost of tax cuts.

Hardliners hope to cut Medicaid, which some Republican senators resist, saying it would hurt voters who elected Trump in November and need to gain support for the control of Congress in 2026.

The bill's cuts will drive 8.6 million people away from Medicaid.

It also aims to eliminate taxes targeting tricks and some overtime income (both Trump campaign promises), while increasing defense spending and providing more funding for Trump’s border crackdown.

Sen. Chris Murphy, a Democrat in Connecticut, said credit ratings cut the spelling troubles for Americans.

"It's important. It means we're likely to go to recession," Murphy told NBC's conference media.

"These guys are running the economy recklessly."