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Freedom Caucus details spending cuts in push for ‘rapid adoption’ of Trump agenda

  • Republican President-elect Donald Trump is set to begin his second term on January 20, with small majorities in both the Senate and the House of Representatives.
  • Tax policy will be a priority for Trump, but reaching an agreement between the two branches of Congress may prove challenging. The Senate GOP argues that hiking corporate taxes could lead to job loss and foreign takeovers of U.S. Corporations.
  • House conservatives, including Rep. Chip Roy, are proposing to increase corporate tax rates from 21 percent to 25 percent to offset the cost of Trump's tax package, but this proposal is facing opposition from Senate Republicans. Roy believes everything should be on the table, and that corporate taxes should not stay in place without balancing the budget or being deficit neutral.
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Fox News broke the news in New York, United States on Thursday, January 16, 2025.
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