House committee blocks GOP budget proposal

A GOP-backed budget proposal stalled in the House Budget Committee as some conservatives joined Democrats in voting against the measure on Friday.

The Associated Press reported that hard-right lawmakers are insisting on steeper spending cuts to Medicaid and the Biden-era green energy tax breaks before they will support President Donald Trump’s bill.

The budget proposal has big implications for steel and manufacturing. The bill seeks to cut funding for Biden’s Inflation Reduction Act (IRA) while adding or expanding business deductions and tax rates.