Zürcher Nachrichten - US House close to final vote on Trump tax bill

EUR -
AED 4.2854
AFN 73.513877
ALL 95.510242
AMD 433.136935
ANG 2.088595
AOA 1071.203322
ARS 1623.155257
AUD 1.637048
AWG 2.103316
AZN 1.988841
BAM 1.949665
BBD 2.351002
BDT 143.219321
BGN 1.946488
BHD 0.440592
BIF 3472.658894
BMD 1.166888
BND 1.490503
BOB 8.065619
BRL 5.857427
BSD 1.167227
BTN 110.652801
BWP 15.777285
BYN 3.286757
BYR 22871.006156
BZD 2.347613
CAD 1.596245
CDF 2707.180185
CHF 0.923656
CLF 0.026831
CLP 1055.999007
CNY 7.979472
CNH 7.98372
COP 4242.349933
CRC 530.8296
CUC 1.166888
CUP 30.922534
CVE 110.708526
CZK 24.389535
DJF 207.37905
DKK 7.473107
DOP 69.283997
DZD 154.851697
EGP 61.871784
ERN 17.503321
ETB 183.201494
FJD 2.574858
FKP 0.863638
GBP 0.866006
GEL 3.138536
GGP 0.863638
GHS 13.057687
GIP 0.863638
GMD 85.182963
GNF 10239.442958
GTQ 8.917899
GYD 244.210479
HKD 9.143869
HNL 31.051229
HRK 7.535408
HTG 152.878925
HUF 365.773316
IDR 20277.072323
ILS 3.468517
IMP 0.863638
INR 110.835288
IQD 1528.623371
IRR 1535041.255104
ISK 143.807139
JEP 0.863638
JMD 183.034034
JOD 0.827365
JPY 187.105255
KES 150.680561
KGS 102.020206
KHR 4679.221247
KMF 492.427083
KPW 1050.160366
KRW 1733.231342
KWD 0.35939
KYD 0.972735
KZT 540.648702
LAK 25642.365622
LBP 104474.479546
LKR 372.936454
LRD 214.561568
LSL 19.685307
LTL 3.445517
LVL 0.705839
LYD 7.409465
MAD 10.809759
MDL 20.094681
MGA 4842.585502
MKD 61.638331
MMK 2450.441126
MNT 4176.159573
MOP 9.422649
MRU 46.651906
MUR 54.645753
MVR 18.034257
MWK 2032.137573
MXN 20.479933
MYR 4.627916
MZN 74.569985
NAD 19.685422
NGN 1604.55262
NIO 42.836401
NOK 10.879948
NPR 177.044124
NZD 2.000105
OMR 0.44867
PAB 1.167227
PEN 4.112129
PGK 5.064072
PHP 71.770626
PKR 325.415929
PLN 4.258634
PYG 7262.147676
QAR 4.251559
RON 5.102787
RSD 117.399467
RUB 87.225251
RWF 1704.823469
SAR 4.376524
SBD 9.380426
SCR 16.071443
SDG 700.710364
SEK 10.870572
SGD 1.494516
SHP 0.8712
SLE 28.702881
SLL 24469.054893
SOS 666.881356
SRD 43.712824
STD 24152.227095
STN 24.738027
SVC 10.213859
SYP 129.215466
SZL 19.6617
THB 38.239409
TJS 10.943018
TMT 4.089943
TND 3.374932
TOP 2.809587
TRY 52.723968
TTD 7.937024
TWD 36.91894
TZS 3028.074582
UAH 51.448105
UGX 4348.316838
USD 1.166888
UYU 46.45382
UZS 14061.001063
VES 566.626558
VND 30754.501952
VUV 138.127072
WST 3.169123
XAF 653.896535
XAG 0.016137
XAU 0.000256
XCD 3.153573
XCG 2.10368
XDR 0.814159
XOF 652.290523
XPF 119.331742
YER 278.448622
ZAR 19.651737
ZMK 10503.389618
ZMW 22.031671
ZWL 375.737482
  • RBGPF

    0.2800

    63.75

    +0.44%

  • CMSD

    -0.1400

    23.06

    -0.61%

  • BCC

    -3.6100

    79

    -4.57%

  • CMSC

    -0.0100

    22.82

    -0.04%

  • JRI

    -0.0700

    12.74

    -0.55%

  • BCE

    -0.2400

    23.26

    -1.03%

  • NGG

    -1.4700

    85.98

    -1.71%

  • RELX

    -0.2100

    35.8

    -0.59%

  • RIO

    -2.0000

    96.49

    -2.07%

  • GSK

    -3.0700

    51.4

    -5.97%

  • BTI

    -1.0200

    57.45

    -1.78%

  • RYCEF

    -0.4000

    14.9

    -2.68%

  • AZN

    -1.4800

    185.2

    -0.8%

  • BP

    0.4500

    46.8

    +0.96%

  • VOD

    -0.1500

    15.34

    -0.98%

US House close to final vote on Trump tax bill
US House close to final vote on Trump tax bill / Photo: Win McNamee - POOL/AFP/File

US House close to final vote on Trump tax bill

US lawmakers teed up a final vote on Donald Trump's marquee tax and spending bill for Thursday morning after bruising Republican infighting nearly derailed the centerpiece of the president's domestic agenda.

Text size:

Almost 24 hours after debate began, Trump appeared close to major victory as Congress edged towards passing his "One Big Beautiful Bill," despite misgivings in his party over a text that would balloon the national debt while launching a historic assault on the social safety net.

Speaker Mike Johnson struggled through the night to corral his rank-and-file members after the package scraped through a series of "test" votes in the House of Representatives that laid bare deep divisions in the party.

It was on course for a final vote that would put it on Trump's desk to be signed into law after passing its last procedural hurdle in the early hours of Thursday.

"We feel very good about where we are and we're moving forward," an upbeat Johnson told reporters at the Capitol.

"So we're going to deliver the Big, Beautiful Bill -- the president's 'America First' agenda -- and we're going to do right by the American people."

- Trump's flagship bill -

The timetable could slip however as Democratic minority leader Hakeem Jeffries continued a long speech opposing the bill that delayed proceedings by several hours.

Originally approved by the House in May, Trump's sprawling legislation squeezed through the Senate on Tuesday but had to return to the lower chamber for a rubber stamp of the senators' revisions.

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 shrinking the federal food stamps program and forcing through the largest cuts to the Medicaid health insurance scheme for low-income Americans since its 1960s launch.

While moderates in the House are anxious that the cuts will damage their prospects of reelection, fiscal hawks chafed over savings that they say fall far short of what was promised.

Johnson has to negotiate tight margins, and can likely only lose three lawmakers in the final vote, among more than two dozen who had declared themselves open to rejecting Trump's bill.

- 'Abomination' -

The 869-page text only passed in the Senate after a flurry of tweaks that pulled the House-passed version further to the right.

It offsets its tax relief with around $1 trillion in health care cuts, and some estimates put the total number of recipients set to lose their insurance coverage under the bill at 17 million. Scores of rural hospitals are expected to close due to the cuts.

Most legislation in the House has to run the gauntlet of multiple preliminary votes before it can come up for final approval.

But there was alarm early on as the One Big Beautiful Bill stumbled at one of its first procedural stages, with a vote that ought to have been straightforward remaining open for seven hours and 31 minutes -- making it the longest in House history.

Johnson had been clear that he was banking on Trump leaning on waverers, as the president has in the past to turn around contentious House votes that were headed for failure.

The Republican leader has spent weeks hitting the phones and hosting White House meetings to cajole lawmakers torn between angering welfare recipients at home and incurring his wrath.

"FOR REPUBLICANS, THIS SHOULD BE AN EASY YES VOTE. RIDICULOUS!!!" Trump thundered in one of multiple posts to his Truth Social platform that sounded increasingly frustrated as Wednesday's marathon voting session spilled into Thursday.

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.

Jeffries held the floor for his Democrats for more than three hours ahead of the final vote, as he told the stories of everyday Americans whom he argued would be harmed by Trump's legislation.

"This bill, this one big, ugly bill -- this reckless Republican budget, this disgusting abomination -- is not about improving the quality of life of the American people," he said.

M.Hug--NZN