Last week, opposition from President-elect Trump and Tesla (TSLA) CEO Elon Musk led Republican lawmakers to rebuff House Speaker Mike Johnson’s (R-La.) initial iteration of his government spending bill. Congress scrambled to agree upon and push forth a stopgap bill last Friday with President Biden now expected to sign it, funding the federal government through March 14, 2025.
Just weeks ahead of Trump's re-entering the White House — whose administration is currently prioritizing tax cuts, tariff proposals, and cutting down on federal spending — what other policy goals are on Republicans' 2025 to-do list?
Punchbowl News tax and financial services reporter Laura Weiss sits down with Catalysts hosts Seana Smith and Brian Sozzi to give insight into Trump's tax cut plans and concerns surrounding Musk’s influence derailing bipartisan agreements. Trump has tapped Musk to co-lead the proposed Department of Government Efficiency (DOGE).
"On December 31, the Trump tax cuts, much of them from 2017, expire and taxes would go up... if that is allowed to happen. And that would be a disaster for Republicans really who ran on tax cuts. And so I think it's still... not looking like that's going to happen," Weiss says. "They're planning to pass a tax bill that's going to be on the very top of the priority list. But there are certainly members of Congress I speak to who are really concerned about this getting done..."
Related Videos
To watch more expert insights and analysis on the latest market action, check out more Catalysts here.
This post was written by Josh Lynch