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House Republicans narrowly pass $4 trillion budget, opening door for Trump's massive tax cuts House Republicans narrowly pass $4 trillion budget, opening door for Trump's massive tax cuts
(35 minutes later)
Republicans in the House of Representatives have narrowly passed a $4 trillion budget, paving the way for President Donald Trump’s tax overhaul plan. Republicans in the House of Representatives have narrowly passed a $4 trillion budget, paving the way for President Donald Trump’s tax overhaul plan. 
The budget blueprint will allow Republicans, without any support from Democrats, to pass a measure that could cut taxes by as much as $1.5 trillion over the next 10 years. The budget blueprint will allow Republicans, without any support from Democrats, to pass a measure that could cut taxes by as much as $1.5 trillion over the next 10 years. 
But the narrow 216-212 vote hints at the uphill battle a tax reform bill will face to make it to the President's desk to be signed into law. Twenty Republicans voted against the budget resolution, which received no 'yea' votes from Democrats.    But the narrow 216-212 vote hints at the uphill battle a tax reform bill would face to make it to the President's desk to be signed into law. Twenty Republicans voted against the budget resolution, which received no 'yea' votes from Democrats.   
After nine months in office, Mr Trump has still not secured a major legislative victory.  House Speaker Paul Ryan applauded his conference for approving the Senate-passed budget, asserting that it "brings us one step closer to historic tax reform."
The budget measure would allow for a tax bill that adds as much as $1.5 trillion to the federal deficit over 10 years. Meanwhile, the federal government continues to accumulate more debt, which has now surpassed $20 trillion. The deficit for the 2017 fiscal year, which ended Sept. 30, totalled $666 billion, an increase of $80 billion from the previous year.The budget measure would allow for a tax bill that adds as much as $1.5 trillion to the federal deficit over 10 years. Meanwhile, the federal government continues to accumulate more debt, which has now surpassed $20 trillion. The deficit for the 2017 fiscal year, which ended Sept. 30, totalled $666 billion, an increase of $80 billion from the previous year.
Some Republicans have indicated that they would not vote for a tax bill that increases the federal deficit. Some Republicans have indicated that they would not vote for a tax bill that increases the federal deficit. 
A point of contention on the budget resolution was the possibility that it could doom the current deduction for state and local taxes – particularly important for taxpayers in high-tax states such as New York, New Jersey and California. More than half of the Republicans who opposed the measure came from New York and New Jersey.  A point of contention on the budget resolution was the possibility that it could doom the current deductions for state and local taxes, known as the SALT deductions – particularly important for taxpayers in high-tax states such as New York, New Jersey and California. More than half of the Republicans who opposed the measure came from New York and New Jersey. 
More follows... The current tax reform framework calls for cutting SALT deductions, which are used by nearly one-third of those who file taxes. Nixing the deduction would help Republicans raise more than a trillion dollars to help pay for tax cuts over the next decade, making it a huge possible source of revenue for their overall plan to reform the tax code.
Mr Ryan said that he agrees that there should be "comprehensive tax reform" and that the tax-writing House Ways and Means Committee should be given "latitude" to write the tax code overhaul. The plan is now scheduled to be released next Wednesday, with a formal bill drafting expected by mid-November.
Along with the debate over deductions for state and local taxes, Mr Trump and the Republican head of the House's tax-writing committee, Representative Kevin Brady, have also disagreed on the delicate issue of retirement savings. The President and Mr Brady have collided over whether the tax plan would include sharp reductions in how much Americans might save, before taxes, in 401(k) accounts. 
Mr Trump declared on Monday that "there will be NO change to your 401(k)", even though House Republicans have been considering sharply lowering the amount that Americans are allowed to save, before taxes, in 401(k) retirement plans.