GOP, Dems to square off over Trump's sweeping tax plan in high-stakes meeting today

The House committee tasked with writing the U.S. tax code is meeting on Tuesday afternoon to advance one of the most significant portions of President Donald Trump's "big, beautiful bill."

A sweeping piece of legislation unveiled by the House Ways & Means Committee on Monday would follow through on Trump's campaign promises to eliminate taxes on tips and overtime pay, as well as permanently extending the president's 2017 Tax Cuts and Jobs Act (TCJA), among other provisions.

House Speaker Mike Johnson, R-La., has said he wants House Republicans to pass their version of Trump's bill by Memorial Day or "shortly thereafter," as he told Fox News Digital in an interview late last month.

House and Senate Republicans are working on Trump's agenda via the budget reconciliation process, which allows the party in power to sideline the minority by lowering the Senate's thresho...