Overview

• The House Budget Committee voted 21-16 to block the advancement of President Trump’s reconciliation package, with five Republicans defecting.
• The bill, known as the 'One Big Beautiful Bill,' seeks to extend the 2017 tax cuts, raise the SALT deduction cap, and implement Medicaid and SNAP reforms.
• Key Republican divisions center on moderates pushing for higher SALT deductions and hardliners demanding deeper Medicaid cuts and stricter spending reductions.
• The Joint Committee on Taxation estimates the bill would add $3.8 trillion to the federal deficit by 2034, while fiscal hawks criticize its budgetary impact.
• Committee leaders plan to reconvene Sunday night to negotiate compromises and attempt to advance the legislation to the House floor.