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  • 7/2/2025
President Trump's Republican Party faces internal divisions as the House prepares to vote Wednesday on a sweeping tax-and-spending bill ahead of a self-imposed July 4 deadline, according to Reuters. The Senate narrowly passed Trump’s tax-and-spending bill Tuesday after heated debate over its $3.3 trillion debt impact and deep Medicaid cuts. The closely divided House faces similar internal GOP splits, though members have consistently supported Trump’s major priorities despite past clashes with leadership. Republican hardliners oppose the bill over insufficient spending cuts and a $5 trillion debt ceiling hike, warning of a looming risk of default on the $36.2 trillion national debt.

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00:00It's Benzinga, bringing Wall Street to Main Street.
00:02President Trump's Republican Party faces internal divisions as the House prepares to vote Wednesday
00:06on a sweeping tax and spending bill ahead of a self-imposed July 4 deadline, according to Reuters.
00:12Senate narrowly passed Trump's tax and spending bill Tuesday after a heated debate over a $3.3
00:16trillion debt impact and deep Medicaid cuts. Closely divided House faces similar internal
00:22GOP splits, though members have consistently supported Trump's major priorities despite
00:26past clashes with leadership. Republican hardliners oppose the bill over insufficient spending
00:31cuts and a $5 trillion debt ceiling hike, wanting to have a looming risk of default on the $36.2
00:37trillion national debt. For all things money, visit Benzinga.com.

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