Trump mega-bill takes one step closer to House vote

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00:00A sweeping U.S. tax and spending bill has overcome days of Republican conflict

00:05to advance through a key committee and move one step closer to a full vote in the House.

00:10Four hard-line Republican congressmen, who had previously torpedoed progress due to concerns

00:15the cuts were not deep enough to reduce the national debt, allowed the bill to go forward

00:20on Sunday night. They voted present rather than against the legislation, giving House Speaker

00:25Mike Johnson a rare win, but their lack of explicit support points to a bumpy road ahead

00:30before the party unites. The bill would extend tax cuts from President Donald Trump's first term,

00:35end taxes on tips, and increase military and border spending. These would be partly paid

00:40for by cuts to Medicaid and green subsidies. Johnson said he expected the Rules Committee

00:46to take up the bill on Tuesday or Wednesday, and for the legislation to advance to a floor

00:50vote later in the week. One of the conservative rebels, Chip Roy of Texas, said the hardliners

00:56had received concessions from the leadership that the bill would change in their favor, adding,

01:01The bill does not yet meet the moment. They want Americans to face stricter work requirements

01:06before they can receive Medicaid and an end to clean energy subsidies introduced under the

01:11previous president, Democrat Joe Biden. Four sticking points in Trump's big, beautiful bill.

01:17The other flank of the Republican Party is also unhappy, with a provision in the bill that triples

01:22the local tax deduction from $10,000, $7,500 to $30,000 for couples. A group of moderates from states

01:30with high taxes, like New York and California, have objected because they want a higher cap.

01:36Analysts suggest the bill could add $3.5 to the national debt, which is above $35 and climbing.

01:43Influential ratings firm Moody's cited the rising debt as a factor

01:47when it downgraded its U.S. credit rating on Friday. If the bill passes the House when put

01:51to the floor, it will then go to the Senate for passage before it ends up on the president's desk.