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Trump’s megabill heads to final vote after Republican divisions nearly derail it
CNBC Television·2025-07-03 10:50

Legislative Action & Political Dynamics - House Republicans are on the verge of passing President Trump's tax and spending bill after addressing concerns from holdouts [1][4] - The bill is expected to pass and reach President Trump's desk, potentially allowing him to celebrate it on July 4th [5][17] - The sole Republican holdout on the procedural vote was Congressman Brian Fitzpatrick [2] - Elon Musk's opposition to the bill does not appear to have influenced Republican members [11][12] - House Minority Leader Hakeem Jeffries is expected to speak before the final vote, with the vote anticipated around 6:30-7 AM [15][16] Fiscal Implications & Debt - The bill is projected to add $4 trillion to the debt over the next 10 years, according to the Congressional Budget Office [3] - Some holdouts sought reassurances from the White House regarding the enactment of the bill and measures to reduce federal debt [3] - The White House may use a recisions package to claw back some federal funding [7] - The bill addresses the debt limit issue expected in August or September [9] Key Priorities & Content of the Bill - The tax package is being re-extended before the end of the year to prevent tax increases on Americans [9] - The bill includes Republican priorities such as border security and defense [10]