Overview

• The U.S. House approved the GOP-backed budget bill by a razor-thin 215-214 vote, with all Democrats opposing and two Republican defections.
• The legislation extends the 2017 Trump tax cuts, raises the SALT deduction cap, eliminates taxes on tips and overtime, and temporarily boosts the child tax credit.
• It includes nearly $700 billion in Medicaid cuts and $290 billion in SNAP reductions, imposing stricter work requirements and eligibility checks that could impact millions.
• The bill allocates $150 billion each for border security and a one-time military spending boost, while raising the federal debt ceiling by $4 trillion.
• Now heading to the Senate under budget reconciliation rules, the bill faces potential revisions as Republican senators voice concerns over its deficit impact and safety-net cuts.