GOP unveils plan to cut deficit by $1 trillion with second 'big, beautiful bill'
The House GOP's largest caucus released a plan for a second "big, beautiful bill" on Tuesday morning, which the group says could cut the federal deficit by over $1 trillion.Republican...
By Fox News · Fox News
The House GOP's largest caucus released a plan for a second "big, beautiful bill" on Tuesday morning, which the group says could cut the federal deficit by over $1 trillion. Republican Study Committee Chairman August Pfluger, R-Texas, unveiled the roadmap for what's likely to be a massive piece of legislation during a press conference alongside House Budget Committee Chairman Jodey Arrington, R-Texas, whose panel would play a central role in advancing any budget reconciliation bill. Budget reconciliation allows the majority parties in the House and Senate to pass significant policy reforms by lowering the Senate's threshold to advance a bill to a simple majority rather than 60 votes, provided its measures adhere to a specific set of guardrails. It comes as House Republicans wrestle with a razor-thin majority, which just got slimmer after the abrupt resignation of former Rep. Marjorie Taylor Greene, R-Ga., and the sudden death of Rep. Doug LaMalfa, R-Calif. KENNEDY URGES GOP TO RESTART SPENDING BATTLE AMID SOARING COST OF LIVING, WARNS AGAINST WASTING MAJORITY Republicans' first reconciliation legislation, which President Donald Trump dubbed his "big, beautiful bill," was passed after months of tense intraparty negotiations with all but two GOP lawmakers' support. At the time, the threat of Trump's first-term tax cuts in the Tax Cuts and Jobs Act (TCJA) expiring at the end of 2025 was critical to getting the ideologically diverse GOP conference on board with the bill — while Republicans have no such anchor this year. Asked about those dynamics by Fox News Digital, Pfluger said, "That's why this framework is so important." SPEAKER JOHNSON UNVEILS TIMELINE FOR ADDITIONAL TRUMP MEGABILLS TO FIX 'MESS' LEFT BY DEMOCRATS "We spent a lot of time looking at what the theme of a reconciliation bill should be, what is the overlapping area that we all care about. And I would also submit to you that Democrats care about this as well," Pfluger said. "The details of exactly which…