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House Ways and Means Committee advances GOP tax bill

  • After an overnight session in Washington, D.C., the Republican tax plan received approval from the House Ways and Means panel on Wednesday.
  • The approval followed a 17-hour markup that began Tuesday afternoon, during which Democrats proposed amendments that were all rejected by GOP members.
  • The bill, dubbed the "One, Big, Beautiful Bill" by President Trump, would extend 2017 tax cuts, provide additional relief to working families, and reward U.S. investment.
  • The tax package passed along party lines with a 26-19 vote, is estimated to increase deficits by $3.8 trillion over the next decade, and provides nearly $170 billion in tax cuts in 2027 for individuals earning over $500,000.
  • The bill will next move to the House Budget Committee for blending with other measures, aiming for full chamber passage by Memorial Day and eventual Senate consideration.
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atr.org broke the news in on Tuesday, May 13, 2025.
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