Republicans Reveal Trump Tax Plan Will Cost US $4.5 Trillion

www.newsweek.com — February 12, 2025

The Republican House Budget resolution out Wednesday reveals the Ways and Means Committee will get $4.5 trillion to lock in tax cuts, one of President Donald Trump's major proposals. The GOP also seeks an increase in the debt limit by $4 trillion, the resolution says. <p> The plan, which includes a substantial increase in the debt limit, highlights the party's commitment to making permanent the tax cuts enacted during the Trump administration.