The U.S. House of Representatives moved forward with President Donald Trump’s tax bill on Thursday (3.7.2025), following a dramatic night of voting that nearly derailed due to Republican defections. The House passed the motion to proceed with the bill in a narrow 219-213 vote, marking a key victory for Republican leadership aiming to advance Trump’s second-term policy agenda.
U.S. futures barely budged after the news, with S&P 500 futures rising 0.16%, Nasdaq 100 futures gaining 0.25%, and Dow Jones Industrial Average-linked contracts adding 0.12%.
The vote to begin debate on the divided House floor was not without drama, filled with behind-the-scenes deals, evolving alliances, and negotiations until the final moments. Ultimately, House Speaker Mike Johnson managed to push the bill forward, losing only a handful of members in a largely party-line vote.
“It was a long, productive day. We talked with members across the conference and made sure everyone’s concerns were addressed… and their questions answered. It was a good day. We are in a good place right now,” Johnson told reporters late Wednesday night (2.7.2025), before the vote securing the deal’s approval. “We feel very good about where we are and will move forward.”
Meanwhile, Trump lashed out at members of his own party overnight, posting on Truth Social: “FOR THE REPUBLICANS, THIS WILL BE AN EASY YES VOTE. RIDICULOUS!!!”
Democrats oppose the legislation amid objections over cuts to social welfare programs and perceived benefits for the ultra-wealthy. Republican members have accused the opposition of fearmongering. Democrat Gabe Amo of Rhode Island said during floor debate: “The top 1% are drooling to get an extra $300,000 annually because of this dangerous bill. Billionaires win. Seventeen million Americans will lose their health insurance.”
The final vote is expected around 05:30 a.m. Greek time, according to Reuters. The debate will be followed by a vote on the final version of the bill, which extends the 2017 tax cuts, allocates more funding for border security, and simultaneously cuts health care and nutrition programs for the poor.
Once the bill passes the House once again, it will head to Trump’s desk, where he has long sought to sign the package into law.