Trump's Tax Reform Bill Passes House Narrowly, Heads to Senate with Debt Ceiling Hike Provision

Published: May 23, 2025 10:52

Save

[Trump's Tax Reform Bill Passes House by Narrow Margin] US President Donald Trump's landmark tax reform bill was narrowly passed in the House of Representatives on Thursday morning, signaling the advancement of a massive trillion-dollar plan. The plan will avert tax increases at the end of the year, but at the cost of a heavier US debt burden. The bill is now being submitted to the Senate for review, with some Republican lawmakers demanding significant changes. Lawmakers plan to vote on it by August at the latest. The bill also includes a provision to raise the US debt ceiling by $4 trillion; otherwise, according to the Treasury Department's forecast, the US could face the risk of debt default as early as August or September, adding urgency to the bill's passage.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

13 hours ago

Data: SHFE, DCE market movement (Apr 01)

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 01 Apr , 2026

13 hours ago

15 hours ago

[SMM Analysis] India’s Stainless Steel Dilemma: Protect the Market, or Keep It Supplied

New Delhi quietly renewed BIS certification waivers through September 2026, even as it talks tough on Chinese overcapacity. The contradiction reveals more about India's industrial gaps than its trade policy convictions

15 hours ago

Nickel Market Stalemate: High Costs, Weak Demand Limit Price Movements

[SMM Nickel Flash] April 1 News, Supply side, under pressure from both upstream and downstream, quotations from smelters and traders were basically flat. Demand side, buying interest from downstream steel mills remained weak, and market demand was limited. Overall, with high upstream costs and end-use product prices struggling to match, high-grade NPI prices remained in stalemate.

15 hours ago