Reported about 8 hours ago
The Republican-controlled U.S. Congress is attempting to advance President Trump's tax-cut bill, despite Moody's recent downgrade of the federal government's credit rating. Some hardline Republicans are blocking the bill due to insufficient spending cuts, while Treasury Secretary Scott Bessent downplays the downgrade's significance. Economic analysts warn the tax cuts could add trillions to the national debt and exacerbate financial issues, while divisions within the party linger over how to fund these cuts. Lawmakers are under pressure to act on the budget ahead of a looming debt ceiling crisis this summer.
Source: YAHOO