Trump's Crypto Blueprint Unveils This Infrastructure Powerhouse

One blockchain token sits at the heart of Washington's pro-crypto agenda. Institutions are loading up while it still trades at a discount. Here's how to get in for $3.

Trump meets with the House GOP as his 'big' bill of tax breaks and spending cuts teeters

LISA MASCARO and KEVIN FREKING
April 08, 2025

WASHINGTON (AP) -- House Speaker Mike Johnson found himself in a familiar jam on Tuesday: Conservative Republican holdouts are stalling action on President Donald Trump's "big" bill of tax breaks and spending reductions, refusing to accept a Senate GOP budget framework approved over the weekend because it doesn't cut enough.

Trump summoned House Republicans to the White House for a midday meeting as the beleaguered speaker pulls out all the stops to nudge the process forward before lawmakers leave Thursday for a two-week spring recess.

With the financial markets roiling over Trump's tariffs and the economy teetering as worries of a recession flare, the Republican speaker insisted there is no time to waste.

"We've got to get this done," Johnson said after a spirited morning meeting of House Republicans.

The standoff between the House and the Senate over what Trump calls his "big, beautiful bill" is exposing the limits of the GOP's long campaign to cut federal spending, especially at a time of economic unrest. Trump's trade wars, the mass layoffs of thousands of federal workers and Trump adviser Elon Musk's Department of Government Efficiency slashing through government, are all upending the debate.

Republicans, in control of the White House and Congress, are trying to muscle Trump's signature domestic policy bill closer to passage, ensuring some $4.5 trillion in tax breaks approved during his first term don't expire at year's end. But House Republicans are demanding as much as $2 trillion in budget cuts over the decade, to help offset the costs of the tax breaks, while Senate Republicans, who stayed up late to pass their package early Saturday morning, are hesitant to go that far.

Facing unified opposition to the package from Democrats, who see the GOP package as a tax giveaway to the wealthy paid for by reductions in Medicaid, food stamps and other vital government services, Republicans are struggling to resolve their differences and craft a final product.

"I'm tired of the fake math in the swamp," said Rep. Chip Roy, R-Texas, a leader of the House Freedom Caucus.

"They are fine saying that there are unlimited tax cuts, but they are unwilling to say they will do spending cuts," Roy said. "The Senate has produced a budget that is phony math, and I'm not going to support it."

The uproar has thrown the week's schedule into uncertainty, with a planned Wednesday vote potentially pushing to Thursday, or even later.

Trump weighed in late Monday on social media, urging swift action.

"There is no better time than now to get this Deal DONE!" the president posted on social media. "Everyone is going to be happy with the result. Passage will make, even the subject of World Trade, far easier and better for the U.S.A. THE HOUSE MUST PASS THIS BUDGET RESOLUTION, AND QUICKLY -- MAKE AMERICA GREAT AGAIN!"

But Trump's demands left the House conservatives unmoved.

"The rest of America has to do math and balance their budget. I think we ought to do math here in Washington D.C.," said Rep. Scott Perry, R-Pa. "It doesn't take a calculus wiz to know that doesn't add up."

While Republican senators have agreed to consider as much as $2 trillion in cuts, their counterparts in the House are deeply skeptical, if not distrustful, that the Senate GOP will accomplish anywhere near that level of reductions. The Senate bill sets a much lower floor, just $4 billion in cuts, though Senate GOP leaders insist that number will rise.

Rep. Ralph Norman, R-S.C., said he does not believe the Senate has the political will to stomach larger cuts and is unconvinced the GOP senators will reach anywhere near the level the House has set.

"The trustworthiness of the Senate is suspect," Norman said. "It's like you charge for your house $100,000, And I come back with $1,000. How do you bridge that gulf?"

In fact, the Senate GOP signaled the tough road ahead for the House's steep spending reductions during their lengthy overnight session.

Several Republicans including Sen. Susan Collins of Maine and Sen. Josh Hawley of Missouri voted with Democrats in favor of amendments to preserve the Medicaid health care program from cuts. None of the amendments was accepted, but one that specifically targeted the $800 billion in reductions from the House framework won GOP support.

During a morning meeting of House Republicans a number of lawmakers spoke out -- some saying they should simply accept the Senate resolution for now and keep working out the details toward the final package. Others were refusing to go forward without assurances that senators were committed to the same level of reductions.

___

Associated Press writer Seung Min Kim contributed to this report.

Continue Reading...

Popular

Levi Strauss agrees to sell Casual Friday staple Dockers for up to $391 million

NEW YORK (AP) — Levi Strauss is set to finally part ways with Dockers — inking a deal to sell its brand once credited with propelling the popularity of “Casual Fridays” to Authentic Brands Group.

Prosecutors seek 20-year prison term for founder of failed crypto platform Celsius Network

NEW YORK (AP) — The founder and former CEO of the failed cryptocurrency lending platform should face 20 years behind bars for lying and self-dealing that cost customers billions of dollars in losses, prosecutors told a judge Tuesday.

Have You Seen this Strange Elon Musk Device? - Ad

Tech legend Jeff Brown predicts this "space technology" will be Elon Musk's next trillion-dollar business, and it will make a lot of people rich. This could be the biggest internet innovation since the first web browser Netscape kicked off the internet boom in the late 1990s.

Ethereum Flat After Pectra Upgrade, But Analyst Foresees Overhaul 'Tailwind' That Could Take ETH Above $2,000

Ethereum's (CRYPTO: ETH) widely anticipated Pectra upgrade failed to have an immediate impact, with the second-largest cryptocurrency barely moving after its activation Wednesday. What happened: ETH was up 0.96%, while trading volume rose scarcely by 0.52% over the last 24 hours.

Ford CEO welcomes relief on tariffs but says more work is needed on trade policies to spur growth

LOUISVILLE, Ky. (AP) — Ford Motor Company's top executive on Wednesday welcomed but said more work is needed to craft trade policies that spur growth in the U.S. auto industry.

A Historic Gold Announcement Is About to Rock Wall Street - Ad

The greatest investor of all time is about to validate what Garrett Goggin has been saying for months: Gold is entering a once-in-a-generation mania. Front-running Buffett has never been more urgent - and four tiny miners could be your ticket to 100X gains.

Who is Greg Abel, the executive picked to be successor to Warren Buffett?

OMAHA, Neb. (AP) — When announced at his annual shareholder meeting Saturday that he is stepping down as CEO of Berkshire Hathaway at the end of the year, he elevated a low-key 62-year-old Canadian executive named Greg Abel who has long been one of his top lieutenants.

Biggest Dividend Payout in U.S. History: $1 Trillion up for Grabs! - Ad

Trump just launched a $1 trillion National Investment Fund to replace income taxes and send direct payouts to Americans. You could claim up to $21,307--before the first public checks go out. This is historic. Act now to be first in line.

XRP Flat At 0.1%: Why Is It Not Moving?

XRP (CRYPTO: XRP) is flat at 0.1%, with commentators discussing how a deal between Ripple and Circle would have impacted the stablecoin landscape.

Elon's Greatest Invention... Hidden in South Memphis? - Ad

Tech legend Jeff Brown recently traveled to the industrial zone of South Memphis to investigate what he believes will be Elon's greatest invention ever... Yes, even bigger than Tesla or SpaceX.

Stocks Fall On Trade Concerns, Oil And Gold Rally: What's Driving Markets Tuesday?

Wall Street edged lower by midday Tuesday as uncertainty surrounding trade policies lingered, with investors adopting a cautious approach ahead of Wednesday’s Federal Reserve meeting.

Harassed by Assassin’s Creed gamers, a professor fought back with kindness

HANOVER, N.H. (AP) — Sachi Schmidt-Hori has never played Assassin’s Creed Shadows, but facing an onslaught of online harassment from its fans, she quickly developed her own gameplay style: confronting hate with kindness.

The AI Bottleneck Is Real-and One Firm Is Solving It - Ad

AI is scaling fast-but infrastructure is lagging. This firm isn't just aware of the problem, it's building the solution: servers, GPUs, and strategic AI deployments. NVIDIA noticed. Investors should too.

Associated Press finds 'no definitive evidence' to change credit for famous Vietnam War photo

Months after the release of a who took an iconic Vietnam War image of a naked girl running from a napalm attack, The Associated Press said Tuesday it had found “no definitive evidence” to warrant changing a nearly 52-year-old photo credit.

Midwest carbon dioxide pipeline could face new hurdle as some Iowa lawmakers question eminent domain

DES MOINES, Iowa (AP) — A proposed pipeline that would traverse through several Midwestern states could face more hurdles in Iowa as a dozen Republican state senators try to force the issue to a vote.

Buffett's Favorite Chart Just Hit 209% - Here's What That Means For Gold - Ad

Buffett's favorite market signal just hit its highest level in history-stocks are more overvalued than 1929. He's sitting on $325B in cash... and may be about to buy one overlooked gold miner. I've identified it-plus 4 others with up to 100X potential.

Tesla Stock Falls On European Sales Decline, Rising Competition: What's Going On?

Tesla Inc. (NASDAQ:TSLA) shares are trading lower Monday after industry data showed a drop in new car sales in Spain, which appears to be adding to concerns over European performance.

California high-speed rail leader pushes state to support private investment

SACRAMENTO, Calif. (AP) — A long-delayed project promising nonstop rail service between San Francisco and Los Angeles in under three hours may be able to secure the private funding it desperately needs if California agrees to pay the investors back, its chief executive told The Associated Press.

He Called Bitcoin to $100k... Now He Says This Coin Is Next - Ad

Juan Villaverde may be America's top crypto expert. According to Juan's timing model, we are entering what could be the biggest bull market in crypto's history. With America's first crypto president in office, it could be the biggest gains the market has ever seen. And one special coin could skyrocket.

Florida lawmakers approve changes to condo safety law passed after Surfside collapse

TALLAHASSEE, Fla. (AP) — Florida lawmakers gave final approval Wednesday to a bill aimed at reforming a condominium safety law passed in 2022 in the wake of the partial collapse of Champlain Towers South, which in Surfside in June 2021.

Warren Buffett's Favorite 'Single Best Measure' For Equities Flashes Buying Signal As US Stocks Rebound

Warren Buffett's favored "Buffett Indicator" suggests U.S. equities may be undervalued, signaling a potential buy opportunity as stocks rebound.

Nvidia Is About to Shock the World: July 23rd - Ad

Jeff Brown, the tech legend who picked shares of Nvidia in 2016 before they jumped by more than 22,000%, is warning everyone to... Mark this date on your calendar: July 23rd! That's when Nvidia could help send shares of this Elon Musk supplier skyrocketing higher.

Neurocrine Biosciences' Ingrezza Q1 Sales Prove Resilient, Analysts Boost Price Target

Neurocrine stock gains as Q1 EPS beats estimates; Ingrezza sales climb 8% YoY with record new patients and strong analyst price target hikes.

Europe saw stronger growth at start of year, but Trump's tariffs have darkened outlook

FRANKFURT, Germany (AP) — Europe’s economy grew more strongly in the first three months of the year, only to see hopes for an ongoing recovery quickly squelched by U.S. President Donald Trump’s trade war.

How to Claim Your Stake in SpaceX with $500 - Ad

Every week Elon Musk is sending about 60 more satellites into orbit. Tech legend Jeff Brown believes he's building what will be the world's first global communications carrier. And when it goes public, you could cash out with the biggest payout of your life.

Nasdaq-100 Leveraged ETF TQQQ Surges 5.5% As Tech Rally, Jobs Data Boost Risk Appetite

Shares of ProShares UltraPro QQQ ETF jumped 5.5% during Friday's session. TQQQ jumped following a stronger-than-expected April jobs report and robust corporate earnings.

Bitcoin Breaks $100,000, Ethereum, XRP, Dogecoin Roar 10% Higher: What Do Experts Predict Next?

Bitcoin (CRYPTO: BTC) on Thursday evening crossed the $100,000 milestone for the first time in three months, fueling debate over whether this marks the beginning of a sustainable bull run or a

Trump's Crypto Blueprint Unveils This Infrastructure Powerhouse - Ad

One blockchain token sits at the heart of Washington's pro-crypto agenda. Institutions are loading up while it still trades at a discount. Here's how to get in for $3.

AI developers should counter misinformation and protect fact-based news, global media groups say

GENEVA (AP) — A global group of broadcasters and publishers is calling on artificial intelligence developers to make sure their technology serves the public by helping to counter misinformation and protect the value of fact-based news.

Stocks Pause Gains As Treasury Yields Rise: What's Driving Markets Monday?

Wall Street kicked off the week with a cautious tone, as major stock indices hovered near the flatline by midday in New York. Investors digested fresh signs of inflationary pressure in the services sector, raising doubts about near-term rate cuts and weighing on risk appetite.

World Economic Forum: "Arguably the Most Exciting Human Discovery Since Fire" - Ad

Sam Altman, Bill Gates, and Mark Zuckerberg are all investing vast sums of money into a radical technology. According to Bloomberg, this could become 10 times bigger than AI, quantum computing, electric vehicles, cryptocurrencies, and robotics combined. And one stock is at the center of it all.

Hims & Hers Stock Soars 32% Since Tuesday On Strong Q1 Earnings And Robust Outlook

Hims & Hers Health shares have surged 32.4% since Tuesday's session open. The stock is gaining following a standout first-quarter earnings report released late Monday.

Senate confirms Bisignano to lead Social Security Administration as agency faces DOGE overhaul

WASHINGTON (AP) — Wall Street veteran Frank Bisignano was confirmed by the Senate on Tuesday to lead the , taking over at a turbulent time for the agency that provides benefits to more than 70 million Americans.

The Cross-Chain Giant Set for 1,000%+ Gains - Ad

This multi-chain protocol's volume is exploding while its price is still under the radar. Institutions are moving in fast-get our urgent report before retail wakes up.

Take It Down Act, addressing nonconsensual deepfakes and 'revenge porn,' passes. What is it?

Congress has overwhelmingly approved bipartisan legislation to enact stricter penalties for the distribution of non-consensual intimate imagery, sometimes called “revenge porn.” Known as the Take It Down Act, the bill is now headed to President Donald Trump’s desk for his signature.

The Most Important "AI Stock" You've Never Heard Of - Ad

The AI revolution is moving faster than anyone expected. But what no one is talking about is the one company AI simply can't exist without. It may be the single most important AI investment, yet most people don't even know its name. For now. The moment Wall Street catches on, this $20 stock could explode.

Key things to know about the upcoming summer movie season

already has a lot on his shoulders. It seems unfair to add the fate of the to his list. But he's not alone — Marvel Studios is also returning to theaters in a big way with two this summer, “Thunderbolts” and “The Fantastic Four: First Steps.”

Trending Now

Information, charts or examples are for illustration and educational purposes only and not for individualized investment management This message contains commercial elements, such as advertising. We only send these offers to those who have opted in to our newsletter. Past performance is not indicative of future results. For these reasons we strongly suggest trading in a DEMO/Simulated account. The information provided by us is for educational and informational purposes only. We make no representations or warranties concerning the products, practices or procedures of any company or entity mentioned or recommended and have not determined if the statements and opinions of the advertiser are accurate, correct or truthful. If you use, act upon or make decisions in reliance on information contained or any external source linked within it, you do so at your own peril and agree to hold us, our officers, directors, shareholders, affiliates and agents without fault.

Copyright systemtrading.ca
Privacy Policy | Terms of Service