TechFlow, May 22 — According to Jinshi Data, on Thursday morning local time, the tax bill signed by U.S. President Trump narrowly passed the House of Representatives (215 votes to 214, with one abstention), advancing a massive multi-trillion-dollar package that increases the U.S. debt burden to avoid year-end tax hikes. The bill will now move to the Senate, where Republican groups are urging extensive amendments. Lawmakers plan to vote on approval before August. The package includes raising the U.S. debt ceiling by $4 trillion. The Treasury Department predicts that without raising the limit, the U.S. could default as early as August or September, adding urgency to the timeline.
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