What a wild day on Capitol Hill. House Republican leaders are racing through President Trump's "big, beautiful bill" today, hoping to get fractured GOP factions on the same page.
The powerful House Rules Committee started its workday at 1 a.m. (not a typo) to sift through the package. 💻 Livestream
We're all waiting for Republican leadership to announce its negotiated changes to the bill, which would then trigger the committee vote.
Passing through this committee is the last step before the bill hits the House floor. Meanwhile, Republican leaders are scrambling to cobble together enough votes. Remember: Only three Republicans can vote "no."
Where things stand: Speaker Mike Johnson (R-La.) cut a deal with moderate Republicans last night to increase the state and local tax (SALT) deduction cap. That's one step forward for getting those lawmakers to vote "yes," but it may be a hard sell for House conservatives. 📝 5 things to know about SALT
Rep. Chip Roy (R-Texas), who has been a key holdout, told The Hill this morning that he's still a "no" on the package.
Another layer to the chaos: The nonpartisan Congressional Budget Office (CBO) released its assessment of the bill Tuesday night. It found that if passed, the bill would add $2.3 trillion to the national deficit over 10 years. It would also force nearly $500 billion in Medicare cuts (!)
⌚ The latest on timing: Johnson has lowered expectations for a House vote today on the bill. On Wednesday morning he said he was expecting a vote later in the day but now says there's a "chance" for a vote before Thursday. Nothing has been scheduled yet — and it first needs to advance out of the House Rules Committee.
House Freedom Caucus Chair Rep. Andy Harris (R-Md.) predicted to Newsmax this morning that there's "no way" this bill passes today. But Harris later said his caucus is working on a deal with the White House to unlock their support. Keep an eye out for this today.
The ideological significance of this bill: The Wall Street Journal points out that "Trump's economic agenda hinges on [a] tax bill that divides his own party."
🗨️ Follow today's live blog
🔎 What's in the 1,116-page bill
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