logo
What's next for Trump's big, beautiful bill?

What's next for Trump's big, beautiful bill?

Yahoo24-05-2025

This article was first published in the On the Hill newsletter. Sign up to receive the newsletter in your inbox on Friday mornings here.
Hello, friends. Happy Memorial Day weekend. This week marked a major win for the Republican Party, but it didn't come easily.
The House passed the 'Big Beautiful Bill Act' in the wee hours of Thursday after more than seven hours of debate on the floor — and that doesn't include the nearly 22-hour hearing beforehand that lasted the entirety of Wednesday.
Needless to say, it was a week of big developments, little sleep, and negotiations that lasted until the very last minute.
But what's next?
Trump's budget heads to the Senate — where changes await
After weeks of marathon hearings, hourslong negotiations, and last-minute changes to the budget framework, the House finally got President Donald Trump's agenda passed in a razor-thin vote around 7 a.m. EDT on Thursday.
But the hard part might just be beginning.
The budget resolution must now head to the Senate for consideration, and some senators are already hinting at major changes to the framework before they can support it. (And, to freshen up knowledge on the process: if the Senate makes any changes — no matter how small — it must go to back to the House and pass again before it can be signed by Trump.)
There are a lot of factors at play here, and the drama won't really start to unfold until Congress returns on June 3 from the Memorial Day recess.
But the crux of the issue is this: A substantial faction of conservatives in the House who are part of the Freedom Caucus made a number of demands in order to get their support for the budget resolution. Without their help, the bill would have failed on the House floor.
But those changes took weeks to negotiate — and they are unlikely to go over well with more moderate Republicans in the Senate.
For example, two major demands the Freedom Caucus made was to make deeper spending cuts to Medicaid and to fully repeal the Inflation Reduction Act, which includes several clean energy tax credits. But there are some GOP senators who might be wary of the changes — including Sen. John Curtis, R-Utah, who supports those green energy credits — which could cause some heartburn.
'All of which means this: If Congress cuts funding for Medicaid benefits, Missouri workers and their children will lose their health care. And hospitals will close. It's that simple,' Sen. Josh Hawley, R-Mo., wrote in a New York Times op-ed warning against Medicaid cuts. 'And that pattern will replicate in states across the country.'
On the other hand, you have some Republicans in the Senate who want more spending cuts.
'I'm hoping now we'll actually start looking at reality,' Sen. Ron Johnson, R-Wis., said on Thursday. 'I know everybody wants to go to Disney World, but we just can't afford it.'
House Republicans knew the risks of spending so much time debating budget provisions that could be later stripped out — but for some, that might have been the point.
'I think after seeing how painful of a process this is and how difficult it is to get anything through this side, I think that will send a strong message in the Senate that you can't really change it,' Rep. Eric Burlison, R-Mo., a member of the Freedom Caucus, told me this week.
Burlison has been someone who often warns about getting 'jammed' by the Senate — a colloquial term referring to when the House has to just swallow whatever the upper chamber passes — so I pressed him on that a little further.
I asked: 'After all this, you think once y'all pass it, they'll just take it?'
Burlison: 'I think so.'
To my surprise, a number of other House conservatives had the same belief.
Fellow Freedom Caucus member Andy Ogles, R-Tenn., told me: 'I think if we send them over a conservative package, they actually will adopt it, because the Senate's position right now is more conservative than the House.'
When I asked about concerns that the Senate could reject some of the conservative changes the House made, Ogles said: 'Their posture is more conservative than ours so if they were to change it, it would be an improvement.'
Remember: Senate Republicans have a similar margin that House GOP leaders have had to deal with the last few weeks. They can lose up to three GOP senators before the bill fails, assuming all Democrats vote against it.
The plan is to get the framework through the Senate, back to the House if needed, and on Trump's desk by the Fourth of July.
It's an ambitious timeline, to be sure. We'll see if they can pull off a miracle.
Joe Biden returns to the forefront: House Republicans spent much of the last Congress investigating the Biden family — and that trend continues into this administration. The House Oversight Committee announced it would continue investigations into the Biden administration, the former president's cognitive decline, and his use of the autopen (something that several presidents, including Trump, have used in the past). The committee sent requests on Thursday for interviews with the former president's doctor and former White House aides.
Stablecoin history: The Senate passed legislation this week to implement the first-ever regulation framework for stablecoins, a type of cryptocurrency that is considered more secure because it is tied to an underlying asset. Democrats initially threatened to block the bill until they came to an agreement with Republicans this week to include language that would extend ethics standards to special government employees (read: Elon Musk, while he is in his administration position).
Democrat charged with assault: A House Democrat was charged with two counts of assaulting, resisting, and impeding an officer during a protest outside an Immigration and Customs Enforcement facility on May 9. Rep. LaMonica McIver, D-N.J., has since been released but now faces a resolution from Rep. Nancy Mace, R-S.C., to be removed from the House. That's unlikely to happen, but could raise tensions between the parties.
This week, House members were awake for at least 24 hours — some even longer! — as they tried to pass this big, beautiful bill.
The House Rules Committee met for the longest period of time, with its hearing lasting almost 22 hours with one short 10-minute recess. It's probably a record for the committee, although no one is quite sure as the panel is the longest-standing committee in Congress and we don't have records going all the way back to its creation in 1789.
As you can imagine, everyone was quite tired. Your author was dependent on Celsius energy drinks and afternoon Diet Cokes to stay awake.
And I'm here to confirm the rumors: Lawmakers, they're just like us.
I caught quite a few lawmakers nodding off in committee hearings this week, giving some vindication to Rep. Blake Moore, R-Utah, who went viral when he nodded off in a hearing last week.
Rep. Ralph Norman, R-S.C., for example, fell asleep several times during the Rules Committee meeting and had to be shaken awake during amendment votes late Wednesday evening.
Norman later revealed to me and a few other reporters he had only gotten two hours of sleep between Tuesday and Wednesday, and didn't get to go to bed until after the bill passed early Thursday morning. Sweet dreams, congressman.
And some members even missed the big, beautiful vote because they fell asleep. No, really.
Two Republicans missed the vote early Thursday morning, including New York Rep. Andrew Garbarino, who Speaker Mike Johnson, R-La., said had fallen asleep.
'Andrew Garbarino did not make it in time. He fell asleep in the back, no kidding,' Johnson told reporters.
That could've been drastic for Republicans because the bill passed in a 215-214 vote — a razor-thin margin that offered GOP leaders no room for error.
Shout-out to Rep. Celeste Maloy, R-Utah, who stayed awake on the House floor and offered a speech during debate — and on her birthday, no less.
Now it's the Senate's turn … and they are known for their overnight vote-a-ramas, so maybe we'll catch a few more snoozers in the coming weeks.
From the Hill: Republicans won't sell Utah's public lands in Trump's budget. … Congress considers reining in Trump's firing powers. … Senate chaplain prays for Biden after cancer diagnosis.
From the White House: Trump signs bipartisan bill criminalizing revenge porn. … Prayer service at Pentagon sparks religious freedom debate. … Trump, South African president clash in White House meeting over 'genocide'
From the courts: The Supreme Court deadlocked over a first-of-its-kind religious charter school. … SCOTUS returns Maine lawmaker's right to vote after post about transgender athlete. … SCOTUS approved largest immigration status revocation in decades.
The House and Senate will leave town for a weeklong recess to celebrate the Memorial Day holiday. When they get back, the Senate gets to join the 'big, beautiful fun.'
In the meantime, I'll be back in Utah next week while lawmakers return for the district work period. I'll be checking in with lawmakers to see what they're up to when not on Capitol Hill.
As always, feel free to reach out to me by email with story ideas or questions you have for lawmakers. And follow me on X for breaking news and timely developments from the Hill.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

2 Growth Stocks to Stash and 1 to Question
2 Growth Stocks to Stash and 1 to Question

Yahoo

time20 minutes ago

  • Yahoo

2 Growth Stocks to Stash and 1 to Question

Growth is a hallmark of all great companies, but the laws of gravity eventually take hold. Those who rode the COVID boom and ensuing tech selloff in 2022 will surely remember that the market's punishment can be swift and severe when trajectories fall. Deciphering which businesses can sustain their high growth rates is a challenge for even the most seasoned professionals, which is why we started StockStory. On that note, here are two growth stocks expanding their competitive advantages and one climbing an uphill battle. One-Year Revenue Growth: +25.3% Founded in 2009 by enterprise software veteran Tom Seibel, (NYSE:AI) provides software that makes it easy for organizations to add artificial intelligence technology to their applications. Why Does AI Fall Short? 15.5% annual revenue growth over the last three years was slower than its software peers Extended payback periods on sales investments suggest the company's platform isn't resonating enough to drive efficient sales conversions Historical operating margin losses point to an inefficient cost structure stock price of $25.72 implies a valuation ratio of 7.4x forward price-to-sales. Dive into our free research report to see why there are better opportunities than AI. One-Year Revenue Growth: +32.3% Founded in 2014 and named after the dreaded first day of the work week, (NASDAQ:MNDY) is a software-as-a-service platform that helps organizations plan and track work efficiently. Why Is MNDY a Good Business? ARR trends over the last year show it's maintaining a steady flow of long-term contracts that contribute positively to its revenue predictability Software is difficult to replicate at scale and results in a best-in-class gross margin of 89.5% Strong free cash flow margin of 30.4% enables it to reinvest or return capital consistently is trading at $305 per share, or 12.7x forward price-to-sales. Is now a good time to buy? Find out in our full research report, it's free. One-Year Revenue Growth: +20% Founded in 2010 and named for a combination of 'docs' and 'proximity', Doximity (NYSE: DOCS) is the leading social network for U.S. medical professionals. Why Should DOCS Be on Your Watchlist? Billings have averaged 23.5% growth over the last year, showing it's securing new contracts that could potentially increase in value over time Well-designed software integrates seamlessly with other workflows, enabling swift payback periods on marketing expenses and customer growth at scale DOCS is a free cash flow machine with the flexibility to invest in growth initiatives or return capital to shareholders At $58.44 per share, Doximity trades at 19x forward price-to-sales. Is now the right time to buy? See for yourself in our comprehensive research report, it's free. Market indices reached historic highs following Donald Trump's presidential victory in November 2024, but the outlook for 2025 is clouded by new trade policies that could impact business confidence and growth. While this has caused many investors to adopt a "fearful" wait-and-see approach, we're leaning into our best ideas that can grow regardless of the political or macroeconomic climate. Take advantage of Mr. Market by checking out our Top 5 Growth Stocks for this month. This is a curated list of our High Quality stocks that have generated a market-beating return of 183% over the last five years (as of March 31st 2025). Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-small-cap company Comfort Systems (+782% five-year return). Find your next big winner with StockStory today for free.

Musk regrets some of his Trump criticisms, says they 'went too far'
Musk regrets some of his Trump criticisms, says they 'went too far'

Yahoo

time21 minutes ago

  • Yahoo

Musk regrets some of his Trump criticisms, says they 'went too far'

Elon Musk, the world's richest person and Donald Trump's former advisor, said Wednesday he regretted some of his recent criticisms of the US president, after the pair's public falling-out last week. "I regret some of my posts about President @realDonaldTrump last week. They went too far," Musk wrote on his social media platform X. Musk's expression of regret came just days after Trump threatened the tech billionaire with "serious consequences" if he sought to punish Republicans who vote for a controversial spending bill. Their blistering break-up -- largely carried out on social media before a riveted public since Thursday last week -- was ignited by Musk's harsh criticism of Trump's so-called "big, beautiful" spending bill, which is currently before Congress. Some lawmakers who were against the bill had called on Musk -- one of the Republican Party's biggest financial backers in last year's presidential election -- to fund primary challenges against Republicans who voted for the legislation. "He'll have to pay very serious consequences if he does that," Trump, who also branded Musk "disrespectful," told NBC News on Saturday, without specifying what those consequences would be. Trump also said he had "no" desire to repair his relationship with the South African-born Tesla and SpaceX chief, and that he has "no intention of speaking to him." In his post on Wednesday, Musk did not specify which of his criticisms of Trump had gone "too far." - 'Wish him well' - The former allies had seemed to have cut ties amicably about two weeks ago, with Trump giving Musk a glowing send-off as he left his cost-cutting role at the so-called Department of Government Efficiency (DOGE). But their relationship cracked within days as Musk described the spending bill as an "abomination" that, if passed by Congress, could define Trump's second term in office. Trump hit back at Musk's comments in an Oval Office diatribe and from there the row detonated, leaving Washington stunned. "Look, Elon and I had a great relationship. I don't know if we will anymore. I was surprised," Trump told reporters. Musk, who was Trump's biggest donor to his 2024 campaign, also raised the issue of the Republican's election win. "Without me, Trump would have lost the election, Dems would control the House and the Republicans would be 51-49 in the Senate," he posted, adding: "Such ingratitude." Trump later said on his Truth Social platform that cutting billions of dollars in subsidies and contracts to Musk's companies would be the "easiest way" to save the US government money. US media have put the value of the contracts at $18 billion. With real political and economic risks to their falling out, both appeared to inch back from the brink on Friday, with Trump telling reporters "I just wish him well," and Musk responding on X: "Likewise." Trump had spoken to NBC on Saturday after Musk deleted one of the explosive allegations he had made during their fallout, linking the president with disgraced financier Jeffrey Epstein. Musk had alleged that the Republican president is featured in unreleased government files on former associates of Epstein, who died by suicide in 2019 while he faced sex trafficking charges. Trump was named in a trove of deposition and statements linked to Epstein that were unsealed by a New York judge in early 2024. The president has not been accused of any wrongdoing in the case. "Time to drop the really big bomb: (Trump) is in the Epstein files," Musk posted on X. "That is the real reason they have not been made public." Musk did not reveal which files he was talking about and offered no evidence for his claim. He appeared to have deleted those tweets by Saturday morning. bur-sco/dhc

St. Pete consignment shop abruptly closes, thousands of dollars in designer goods missing
St. Pete consignment shop abruptly closes, thousands of dollars in designer goods missing

Yahoo

time21 minutes ago

  • Yahoo

St. Pete consignment shop abruptly closes, thousands of dollars in designer goods missing

The Brief Retreat Consignment store closed without warning. Sellers who had their goods on consignment are now missing. The entire store has been completely cleared out. ST. PETERSBURG, Fla. - Thousands of dollars' worth of designer goods are missing from a St. Petersburg consignment shop. The store, Retreat Consignment, abruptly closed without any warning and now several sellers want to know where their stuff is and how to get it back. What we know Detectives spoke with one of the sellers on Monday. He's out thousands of dollars in art pieces. Dozens more on social media are missing designer shoes and bags worth thousands. The shop is empty, and the store owners are nowhere to be found. Follow FOX 13 on YouTube Rich Goren has been collecting original art pieces for years. "These are just two of the examples of them, but you can see the high quality," Goren said. He's sold several on consignment at the Retreat consignment shop on Central Avenue in St. Pete. READ: St. Pete man sailing over 5,500 miles for Ronald McDonald House Charities "We would be in the store pretty often and we would see that our stuff was still there," Goren said. Last week he noticed the store was completely empty. His stuff was nowhere to be found. Two art pieces and two pairs of designer shoes worth about $17,000 altogether are now missing. "I hope for the best, maybe sitting in a warehouse and they want to return everything. That's fine. That would be the best case scenario. But the fact that you have a business, people entrusting you with their valuables and you just take off. Come on. That's not great," Goren said. What they're saying The stores yelp page is now filled with reviews from frustrated sellers with similar stories. MORE: St. Pete approves projects to make sewer system more resilient "I am BESIDE myself that they closed their doors and took off with all of my items," one reviewer wrote. "There has been no communication as to how they are going to get their clients items, and money owed, back to them," another reviewer wrote. "One of the employees reached out to me, I won't say her name, but she said, oh my gosh, I feel awful, we all do, we haven't paid, and it was unexpected. We thought they might sell the store, but we also thought they would be transparent about everything. There's no reason for them not to be calling," Goren said. Goren reported it to the St. Pete Police Department on Monday. Detectives are encouraging any other sellers who also had their items taken to reach out. Goren has tried to reach the shop owners multiple times, but his calls and emails have all went unanswered. "It's a civil case if they have it, and they're not returning it quickly enough and so that's where that lands. So I don't know what it is. I just know that we just always try to do right by people and I expect that they seem like really good people to us but this isn't looking good," Goren said. READ: More affordable housing coming to South St. Pete with Habitat for Humanity partnership Timeline The store closed sometime in March. Goren has tried to contact the owners multiple times via email and phone, but his calls went unanswered. Sellers who had items not returned are encouraged to file a report with St. Pete Police. The Source The information in this story was gathered by FOX 13's Jordan Bowen. WATCH FOX 13 NEWS: STAY CONNECTED WITH FOX 13 TAMPA: Download the FOX Local app for your smart TV Download FOX Local mobile app:Apple |Android Download the FOX 13 News app for breaking news alerts, latest headlines Download the SkyTower Radar app Sign up for FOX 13's daily newsletter

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store