US Congress adopts budget paving way for Trump's tax cuts

The US House of Representatives passed a budget resolution on Thursday, paving the way for President Donald Trump's tax cuts. The stage is now set for legislation later this year that could make expiring portions of Trump's 2017 tax cuts permanent.

The resolution was cleared with a vote of 216-214, paving the way for Republicans in the House and Senate to work on specific tax-cut and spending-cut legislation that could take months to complete.

Trump urged progress, saying on Truth Social, "Congratulations to the House on the passage of a Bill that sets the stage for one of the Greatest and Most Important Signings in the History of our Country. Among many other things, it will be the Largest Tax and Regulation Cuts ever even contemplated. MAKE AMERICA GREAT AGAIN!"



The bill would extend the 2017 tax cuts that were Trump's primary first-term legislative achievement. He has also proposed additional cuts, such as eliminating taxes on overtime, tips and Social Security, that could drive the bill's cost north of $11 trillion, nonpartisan analysts said.

Congressional Republicans also intend to use the measure to raise the federal government's debt ceiling, which they must do by sometime this summer or risk default on the nation's $36.6 trillion in debt.

(With inputs from agencies)