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The House of Representatives of the United States adopted Donald Trump’s tax bill by one vote after days of argument between the disparate factions of his republican party, paving the way to the first major legislative success of its second term.
The House controlled by the Republican voted just before 7 a.m. in Washington by 215-214 to approve the legislation by more than 1,000 pages, which would reduce taxes, reduce social spending and increase federal debt.
He is now going to the Senate, where the Republicans have a thin majority.
The sprawling legislation, which Trump called his “great and beautiful bill”, was at the center of a fierce battle among republican legislators in recent days.
The president of the room, Mike Johnson, had fought to overcome the collage points, including the cuts with health expenses supported by the states and the credits of clean energy tax, as well as the level of state and local taxes which can be deducted from federal samples.
“This great bill is the most substantial legislation that any party has ever adopted, certainly under such a thin majority,” said Johnson a few minutes before the adoption of the legislation, greeting it as a “turning point in American history”.
He added that democratic opponents of the bill voted for “the highest increase in tax” in American history.
But Hakeem Jeffries, the head of the House minority, said the bill would deprive at least 13.7 million people from their health insurance, “withdraw food from children, disabled Americans, veterans and older Americans” due to cuts to food stamps.
“It is a major ugly bill,” he said. “It is an assault against the economy … to promulgate the biggest tax lounges for billionaires in American history.”
The adoption of the bill by the Chamber marks a great political victory for Trump, whose approval notes have been wooled after weeks of agitation of the market launched by his trade war.
The non -supporter committee of a responsible federal budget estimates that the legislation will increase the American national debt by more than 3.3 TN at the next decade, increasing the debt of the federal government owned by the public by around 98% of GDP to a record of 125%.
Investors closely looked at the bill in the midst of concerns about the growing budget deficit of the United States, which led Moody’s to strip the United States on its triple credit rating to last week and increased bond yields, which increase the prices.
The 30 -year -old treasury yield increased by 0.2 percentage points this week to 5.1%, the highest level since 2023, because the price of bonds has dropped.
The S&P 500 Share index dropped 1.6% on Wednesday while concern about the deficit spread on the stock markets.
The bill would make permanent tax provisions of the Trump’s first administration – including individual income tax reductions – which would expire otherwise at the end of this year.
He would also reduce taxes on advice and overtime, after Trump’s promises during his successful presidential campaign in 2024 and increase expenditure on border security.
The Republicans have sought to reduce the price of the bill by reducing nearly $ 800 billion in Medicaid – the American health care program for low -income people – and hundreds of billions of more from the food coupons and clean energy tax credits.
Thursday’s vote came after the Republicans who opposed the bill met Trump in the White House on Wednesday.
The president also went to Capitol Hill this week to urge his party to adopt legislation after the conservatives were worried about its cost and moderate republicans have prompted a larger and local tax deduction.
Russell Vought, director of the Trump management and budget office, said the legislation included the most important spending reductions in the past three decades.
While some conservatives had pushed new discounts, only two Republicans voted against the bill – Thomas Massie from Kentucky and Warren Davidson de l’Ohio – due to his impact on American debt.
“The deficits count and this bill is increasing them now,” published Davidson on X.
