was a budget resolution passed regarding reduction of taxes or elimination of taxes
Last night, the U.S. House of Representatives passed a budget resolution in a 217-215 vote, paving the way for $4.5 trillion in tax cuts over the next decade. This includes extending the 2017 Trump tax cuts and potentially eliminating taxes on Social Security income, tips, and overtime pay. The resolution also mandates $2 trillion in federal spending cuts, targeting programs like Medicaid and SNAP, while increasing funding for border security and energy initiatives. This sets up a reconciliation process to pass these measures with a simple Senate majority[1][2][3].
Citations:
[1] House Passes Budget Bill to Press Tax Cuts, But Could Put Farm Bill at Risk https://www.dtnpf.com/agriculture/web/ag/news/article/2025/02/26/house-passes-budget-bill-press-tax
[2] House Passes Budget Resolution to Advance One, Big Beautiful Bill That Will Deliver Tax Relief to Working Families https://waysandmeans.house.gov/2025/02/25/house-passes-budget-resolution-to-advance-one-big-beautiful-bill-that-will-deliver-tax-relief-to-working-families/
[3] House approves budget resolution for reconciliation tax and ... - PwC https://www.pwc.com/us/en/services/tax/library/house-approves-budget-resolution-reconciliation-tax-spending-reforms.html
[4] Senate passes budget resolution; House plans to vote on its own ... https://www.aha.org/news/headline/2025-02-21-senate-passes-budget-resolution-house-plans-vote-its-own-resolution-next-week
[5] NFIB Key Votes U.S. House Budget Resolution https://www.nfib.com/news-article/nfib-key-votes-u-s-house-budget-resolution/
[6] Chairman Smith: A Vote Against This Budget Is A Vote to Raise Taxes on Low-Income Americans https://waysandmeans.house.gov/2025/02/25/chairman-smith-a-vote-against-this-budget-is-a-vote-to-raise-taxes-on-low-income-americans/
[7] US House Republicans advance Trump's tax cut plan https://www.reuters.com/world/us/us-house-republicans-set-vote-trumps-tax-cut-agenda-2025-02-25/
[8] House Budget Passage Tees Up Trillions in Borrowing https://www.crfb.org/press-releases/house-budget-passage-tees-trillions-borrowing
[9] House Passes G.O.P. Budget Teeing Up Enormous Tax and Spending Cuts https://www.nytimes.com/2025/02/25/us/politics/mike-johnson-budget-resolution-vote.html