Core Points - The Republican-controlled House of Representatives is reviewing an extension of the large tax cut law enacted during Donald Trump's first term, amidst concerns over the national debt exceeding $36 trillion [1] - The Tax Cuts and Jobs Act, effective since the end of 2017, is set to expire at the end of this year, with Trump promising to extend it and introduce additional measures [1] - Key Republican figures are working to finalize the new tax bill's content, with a preliminary vote scheduled for May 13 [1] Group 1 - The new tax bill is divided into 11 chapters, with significant contention surrounding tax policy, healthcare assistance programs, green energy projects, and food stamp aid [1] - Proposed cuts include reductions in federal spending for low-income healthcare assistance and nutrition programs, as well as the elimination of environmental tax credits, leading to internal disagreements among Republicans [1] Group 2 - Trump initially pushed for an increase in tax rates for the wealthiest individuals but later appeared to retract this position, suggesting that Republicans "may not need" to raise taxes on the wealthy [2] - The Republican leadership aims to finalize the bill text by the weekend, with hopes to pass it in the House before the Memorial Day holiday on May 26 [2] - The House Budget Committee Chairman emphasized the challenge of cutting spending, stating that without a $2 trillion reduction in federal spending over the next decade, the sustainability of the tax cuts may be at risk [2]

Core Viewpoint - The U.S. Department of Government Efficiency (DOGE) is committed to long-term efforts in reducing expenditures, as stated by Elon Musk during a Fox News interview [1] Group 1: Government Efficiency Initiatives - The DOGE is actively working to eliminate funding to prevent waste and fraud from resurfacing [1] - A team member indicated that DOGE will offer buyout options for federal employees at levels two and three [1]

Core Viewpoint - The U.S. President Trump expresses support for significant budget cuts, indicating a move towards spending reduction [1] Group 1 - The administration plans to implement substantial spending cuts as part of its fiscal strategy [1]