Trump's 'big beautiful' spending bill appears on life support as GOP looks to end some tax relief president created
Source: The Independent
Friday 09 May 2025 21:24 BST
President Donald Trump’s hopes to pass “one big, beautiful bill” seems to be on life support as Republicans seem to put some of the more ambitious tax cuts on ice.
On Friday, the president posted on Truth Social that he would be open to raising taxes on the wealthy if Democrats would not demonize it.
“The problem with even a “TINY” tax increase for the RICH, which I and all others would graciously accept in order to help the lower and middle income workers, is that the Radical Left Democrat Lunatics would go around screaming,“Read my lips,” the fabled Quote by George Bush the Elder that is said to have cost him the Election,” Trump said, referring to former president George H.W. Bush raising taxes after pledging in 1988 “Read my lips: no new taxes.” “NO, Ross Perot cost him the Election!” Trump said. “In any event, Republicans should probably not do it, but I’m OK if they do!!!”
This comes as Politico reported that Republicans plan to scale back their attempts to cut taxes as they hope to pass a budget reconciliation bill. Specifically, House Speaker Mike Johnson lowered the number of tax cuts he hoped to pass from $4.5 trillion to $4 trillion.
Read more: https://www.independent.co.uk/news/world/americas/us-politics/trump-republicans-congress-tax-cuts-b2748238.html