House Republicans are preparing to push their hard-fought package of tax breaks and spending cuts through its next hurdle Friday in the Budget Committee, but conservatives are warning they could vote to halt it unless there are further changes.
Tallying a whopping 1,116 pages, the One Big Beautiful Bill Act , named with a nod to President Donald Trump , is teetering at a critical moment. Conservatives are holding out for steeper cuts to Medicaid and other programs to help offset the costs of the tax breaks. But at the same time, lawmakers from high-tax states including New York are demanding a deeper tax deduction, known as SALT, for their constituents.
Failure to push the package out of the Budget Committee would be a setback for Speaker Mike Johnson , who insists Republicans are on track to pass the bill, which he believes will inject a dose of stability into a wavering economy .
"One of the reasons the big beautiful bill is so important is because I am convinced it will send a message of stability to the stock market, the bond markets, to job creators and entrepreneurs, the risk takers, the people who make the economy go," Johnson said. "We will get the U.S. economy going again."
The Budget panel is one of the final stops before the package is sent to the full House floor for a vote, which is expected as soon as next week. Typically, the job of the Budget Committee is more administrative as it compiles the work of 11 committees that drew up various parts of the big bill.