House Republicans are racing to pass a multitrillion-dollar bill aligned with President Trump's agenda, aiming for a Memorial Day deadline despite significant challenges. The Senate and House remain divided over spending cuts, with the House proposing $1.5 to $2 trillion in cuts, while the Senate suggests far fewer, leading to contention over critical programs like Medicaid and Medicare. Speaker Mike Johnson emphasizes the urgency due to the approaching debt limit deadline and the potential economic fallout from a national credit default. The reconciliation process is being utilized to pass the legislation with a simple majority, bypassing the need for bipartisan support. House committees are actively working on their portions of the bill, although the more contentious sections will be addressed in the following weeks.

House Republicans are urgently working to advance a multitrillion-dollar bill to support President Trump's agenda, with a self-imposed Memorial Day deadline despite facing numerous hurdles.

A significant divide exists between the Senate and House regarding spending cuts, with the House advocating for $1.5 to $2 trillion in reductions, while the Senate's version calls for far fewer cuts.

Speaker Mike Johnson stresses the necessity of meeting the deadline due to the looming debt limit and the risk of a national credit default, which could destabilize financial markets.

The reconciliation process is being leveraged to pass the bill with a simple majority in the Senate, excluding the need for Democratic support and reducing the threshold from 60 votes to 51.

House committees are currently debating and advancing their respective sections of the bill, but contentious areas, particularly those involving tax policy and energy, will be addressed in the coming weeks.

The GOP's plan includes significant cuts from the House Energy & Commerce Committee, impacting Medicare and Medicaid, though Republican leaders claim they aim to eliminate waste and abuse without harming essential services.

Despite shared goals, procedural differences between the House and Senate complicate the timeline, with Senate Republicans acknowledging the reality of these challenges in moving the legislation forward.