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GOP holdouts sound alarm on $36T debt crisis as Trump’s ‘big, beautiful bill’ passes House vote
House Republicans passed President Donald Trump’s «one big, beautiful bill» on Thursday morning, working through overnight committee meetings, last-minute huddles in the speaker’s office and even a last-minute assist from the president.
But while House GOP leadership preached party unity as they passed The One Big Beautiful Bill Act by just one vote, two House Republican holdouts were unwavering in their concerns about the $36 trillion national debt crisis and ultimately voted «no.»
Reps. Thomas Massie, R-Ky., and Warren Davidson, R-Ohio, took their concerns to social media on Thursday, telling their constituents exactly why they bucked the Republican Party on Trump’s key legislative agenda.
«While I love many things in the bill, promising someone else will cut spending in the future does not cut spending. Deficits do matter and this bill grows them now. The only Congress we can control is the one we’re in. Consequently, I cannot support this big deficit plan. NO,» Davidson said early Thursday morning before the vote was final.
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President Donald Trump, left, and Rep. Thomas Massie, R-Ky. (Getty Images)
Massie responded soon after, telling Davidson he agreed and «if we were serious, we’d be cutting spending now, instead of promising to cut spending years from now.»
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«I’d love to stand here and tell the American people, ‘We can cut your taxes and increase spending and everything is going to be just fine.’ But I can’t do that because I’m here to deliver a dose of reality. This bill dramatically increases deficits in the near-term, but promises our government will be fiscally responsible five years from now. Where have we heard that before?» Massie said on the House floor.
President Donald Trump, left, and Speaker of the House Mike Johnson, R-La., talk with reporters after a House Republican Conference meeting on the budget reconciliation bill in the U.S. Capitol in Washington, D.C., on Tuesday. (Tom Williams/CQ-Roll Call, Inc via Getty Images)
The Kentucky congressman, who regularly sports a national debt clock pin, presented a bleak reality for Trump’s «big, beautiful bill» on Thursday as most Republican holdouts rallied behind the final manager’s amendment. «This bill is a debt bomb ticking,» Massie said.
When White House press secretary Karoline Leavitt was asked about Massie and Davidson voting against the bill, she said the president believes they should be primaried.
«I don’t think he likes to see grandstanders in Congress. What’s the alternative? I would ask those members of Congress. Did they want to see a tax hike? Did they want to see our country go bankrupt? That’s the alternative by them trying to vote ‘no.’ The president believes the Republican Party needs to be unified,» Leavitt said.
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Massie, who has been campaigning on Trump calling him a grandstander, even fundraised on Leavitt’s comments, writing on X, «The big beautiful bill has issues. I chose to vote against it because it’s going to blow up our debt. For voting on principle, I now have the President AND his press Secretary campaigning against me from the White House podium. Can you help me by donating?»
Former Rep. Bob Good, R-Va., who served as Chair of the House Freedom Caucus, has spoken out against the country’s debt crisis amid House negotiations, piled on the national debt criticism on Thursday, writing, «The Big Ugly Truth is that the Big Ugly Bill will push the Big Ugly Debt over $60 trillion.»
House Speaker Mike Johnson and House Republicans celebrated passing Trump’s «big, beautiful bill» on Thursday. (Getty Images)
Good found himself out of the job when he lost the Republican primary to now-Rep. John McGuire of Virginia last year.
He was one of just a handful of House Republicans who endorsed Florida Gov. Ron DeSantis in the 2024 GOP presidential primaries, and then Trump threw his political might behind McGuire.
The One Big Beautiful Bill Act is a multitrillion-dollar piece of legislation that advances Trump’s agenda on taxes, immigration, energy, defense and the national debt.
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While the bill seeks to make a dent in the national debt crisis by cutting roughly $1.5 trillion in government spending, the U.S. still has over $36 trillion in debt and has spent $1.05 trillion more than it has collected in fiscal year 2025, according to the Treasury Department.
«I think the most essential truth in American politics is that nobody actually really cares about the national debt or deficit. It’s too abstract to saturate public sentiment,» Fox News Digital columnist David Marcus said after the bill passed.
Fox News Digital’s Elizabeth Elkind contributed to this report.
Politics,House Of Representatives,Republicans,Donald Trump
INTERNACIONAL
Los motivos por los que el dólar cae en el mundo y el euro gana impulso en medio de la guerra comercial
El caótico despliegue de los aranceles del presidente Donald Trump llevó a los inversores a cuestionar ideas establecidas sobre la seguridad y estabilidad del dólar estadounidense, cuyo valor se desplomó este año. En la búsqueda de alternativas, muchos recurrieron al euro.
El euro subió más de 11% frente al dólar desde principios de año y alcanzó su nivel más alto en cuatro años, 1,18 dólares. El euro también creció durante ese periodo frente a otras divisas importantes, como el yen japonés, la libra esterlina, el dólar canadiense y el won surcoreano, lo que sugiere que su fortaleza es más que un reflejo de la debilidad del dólar.
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Christine Lagarde, presidenta del Banco Central Europeo, dijo que este momento era una oportunidad para que el euro ganara influencia a nivel mundial.
“Estamos asistiendo a un profundo cambio en el orden mundial: los mercados abiertos y las normas multilaterales se están fracturando, e incluso el papel dominante del dólar estadounidense, piedra angular del sistema, ya no es seguro”, escribió la semana pasada.
El papel del dólar como moneda de reserva mundial otorga a Estados Unidos un “privilegio exorbitante”, término acuñado a regañadientes por un político francés en la década de 1960. Dado que los inversores, los gobiernos y los bancos centrales de todo el mundo buscan la rentabilidad segura y predecible de los activos denominados en dólares, como los bonos del Tesoro, existe una demanda sólida y constante por dólares. Esto facilita el endeudamiento del gobierno estadounidense y aumenta el poder adquisitivo de los consumidores. (Foto: The New York Times)
La eurozona, formada por los 20 países que utilizan el euro y que rivaliza con Estados Unidos en tamaño y riqueza, nunca atrajo a los inversores de la misma manera. El euro ocupa un distante segundo lugar, detrás del dólar, en términos de uso global.
La reciente subida del euro supone un gran cambio respecto a hace solo tres años, cuando cayó hasta la paridad con el dólar porque los inversores temían los daños de la creciente inflación y la invasión de Ucrania por Rusia. Y está a un mundo de distancia de la crisis de deuda de la eurozona de la década pasada, cuando a veces parecía que la unión monetaria corría el riesgo de desmoronarse.
A pesar de lo positiva que fue la recuperación del euro tras esos episodios, —el euro cotiza cerca de un máximo histórico frente a las monedas de decenas de grandes socios comerciales—, también es posible tener demasiado de algo bueno.
A medida que el dinero fluye hacia el euro y los activos denominados en euros, como la deuda pública alemana, algunos economistas y ejecutivos advierten de que la fortaleza de la moneda podría perjudicar a los exportadores. Estos ya se enfrentan a los aranceles de Trump, que encarecen sus productos para los compradores extranjeros, así como a una mayor competencia de los rivales chinos en mercados clave.
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“Es probable que una mayor fortaleza del euro sea contraproducente”, dijo Valentin Marinov, estratega de divisas del banco francés Crédit Agricole. Ya era probable que las exportaciones se debilitaran y se convirtieran en un lastre para la economía de la eurozona debido a los aranceles estadounidenses y a las políticas del gobierno europeo que fomentarían más importaciones.
Después de que una subida de los precios de la energía provocara años de lucha para reducir la inflación, el Banco Central Europeo, que fija las tasas de interés para la eurozona, se enfrenta ahora a la perspectiva de que la inflación podría ser demasiado baja.
El banco prevé una inflación media de 1,6% el próximo año, notablemente por debajo de su objetivo de 2 por ciento. Esto se debe en parte al impacto de un euro fuerte, que abarata las importaciones.
Algunos legisladores dijeron que existe el riesgo de que la lenta inflación se consolide, un problema ya conocido en la región. Durante casi una década, hasta 2021, el banco central mantuvo sus tipos de interés oficiales por debajo de cero, con la esperanza de estimular un crecimiento económico más rápido y fomentar un aumento constante de los precios. Los legisladores esperaban que esto se tradujera en un aumento de los salarios y en una mejora del nivel de vida.
Los responsables del BCE decidieron mantener las tasas de interés, pero los analistas están aumentando las apuestas de que podrían volver a recortarlas a finales de año, si las perspectivas económicas se oscurecen o la fortaleza del euro hace que las previsiones de inflación sean aún más bajas.
Reducir las tasas de interés tiende a debilitar una moneda, pero la reciente fortaleza del euro se ha producido, sobre todo, cuando el BCE recortó las tasas ocho veces en un año.
Luis de Guindos, vicepresidente del banco central, dijo que si el euro subiera por encima de 1,20 dólares, eso “sería mucho más complicado”. (Foto: AFP/DANIEL MUNOZ)
Algunas empresas europeas grandes advirtieron sobre el efecto de la fortaleza de la moneda en sus ganancias, especialmente en Alemania, un país muy exportador.
SAP, una empresa de software que recientemente se convirtió en la firma pública más valiosa de Europa, dijo que cada aumento de un centavo en el tipo de cambio euro-dólar se traduce en un descenso de 30 millones de euros en los ingresos, sin coberturas de divisas. Adidas, la marca de ropa deportiva, dijo que un euro fuerte tiene “efectos de conversión negativos” en sus ventas en el extranjero. Daimler, fabricante de camiones, dijo que las fluctuaciones del tipo de cambio euro-dólar “podrían afectar significativamente” a sus resultados financieros.
Resulta difícil predecir el futuro del euro.
Actualmente, cotiza en torno a 1,17 dólares, y los analistas encuestados por Bloomberg esperan que siga fortaleciéndose hasta 1,21 dólares el año que viene. Pero Marinov, de Crédit Agricole, dijo que creía que los operadores se habían adelantado: él espera que el euro vuelva a caer hacia 1,10 dólares el año que viene.
El repunte de la moneda este año no significa necesariamente que se vaya a producir un cambio duradero hacia el euro, en el que este represente una mayor proporción de las reservas de los bancos centrales o se utilice en más pagos transfronterizos.
Lagarde, del BCE, dijo que aprovechar el momento para un “euro global” requeriría un esfuerzo concertado para reforzar la fragmentada economía del bloque, racionalizar su gobernanza y profundizar sus mercados de capitales, entre otras cosas. “El paso hacia una mayor prominencia internacional de nuestra moneda no se producirá por defecto: hay que ganárselo”, dijo.
Por Eshe Nelson.
Dólar, euro, banco central europeo
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President Donald Trump is doubling down on his nomination of Alina Habba after federal judges in New Jersey declined to extend her term as interim U.S. attorney, and instead chose to replace her with a different prosecutor, whom the DOJ subsequently fired.
The unusual chain of events has led to confusion over who will become the next interim U.S. attorney in the District of New Jersey, as Habba’s 120-day term is set to expire this week.
A White House spokesman said in a statement provided to Fox News Digital that Trump supports Habba becoming the permanent U.S. attorney, a position that requires Senate confirmation.
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President Donald Trump listens as White House Presidential Counselor Alina Habba delivers remarks before being sworn in as the interim U.S. Attorney for New Jersey in the Oval Office at the White House on March 28, 2025, in Washington, D.C. (Andrew Harnik/Getty Images)
«President Trump has full confidence in Alina Habba, whose work as acting U.S. Attorney for the District of New Jersey has made the Garden State and the nation safer,» White House spokesman Harrison Fields said. «The Trump Administration looks forward to her final confirmation in the U.S. Senate and will work tirelessly to ensure the people of New Jersey are well represented.»
But Habba’s vote in the Senate does not appear to be happening anytime soon, if at all. New Jersey’s two Democratic senators, Cory Booker and Andy Kim, are currently blocking Habba’s nomination through the Senate’s «blue slip» tradition, and a person familiar with the process said the Senate has not received materials needed to vet her nomination in any case.
In the meantime, arcane laws surrounding the authority to fill federal vacancies have become pertinent.
Trump appointed Habba as the temporary U.S. attorney in March, but that term expires on Friday, according to the Department of Justice. Statutes indicate that federal judges have the authority to extend an interim U.S. attorney’s term or vote on replacing that person.
The district court judges of New Jersey, most of whom were appointed by Democratic presidents, convened behind closed doors on Monday and chose to replace Habba with her top assistant, Desiree Grace, a career DOJ prosecutor since 2016. Grace rose through the ranks to become head of the criminal division in New Jersey before becoming Habba’s No. 2 in April.
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Trump lawyer Alina Habba speaks at a campaign rally for then-Republican presidential candidate Donald Trump at the PPL Center in Allentown, Pennsylvania, on Oct. 29, 2024. (ANGELA WEISS/AFP via Getty Images)
However, Attorney General Pam Bondi alleged that the judges infringed on Trump’s authority to appoint U.S. attorneys by voting to replace Habba. Bondi said she «removed» Grace in response to the judges’ actions.
«[Habba] has been doing a great job in making NJ safe again,» Bondi said in a statement. «Nonetheless, politically minded judges refused to allow her to continue in her position, replacing Alina with the First Assistant. Accordingly, the First Assistant United States Attorney in New Jersey has just been removed.»
Grace could not be reached for comment. An anonymous source with knowledge of the matter told the New York Times that Grace received an email Tuesday informing her that she was fired.
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In this Sept. 4, 2018, photo, Senate Judiciary Committee member Sen. Cory Booker, D-N.J. speaks during the committee’s Supreme Court nominee Brett Kavanaugh’s nominations hearing on Capitol Hill in Washington. (AP)
A Habba spokeswoman told Fox News Digital that Habba is still the interim U.S. attorney through Friday. But the tension between the DOJ and the judges leaves open the question of who will assume the role come Saturday.
Booker said that firing a court-appointed U.S. attorney was part of a «pattern» of the DOJ flouting the law.
«The firing of a career public servant, lawfully appointed by the court, is another blatant attempt to intimidate anyone that doesn’t agree with them and undermine judicial independence,» Booker wrote on X.
Booker is among the critics who have deemed Habba unqualified for the job. Habba, who served as Trump’s legal spokeswoman and personal defense lawyer during his criminal prosecutions, had no experience as a prosecutor before Trump appointed her as lead prosecutor in New Jersey.
Upon taking the job, Habba was accused of politicizing the role after she advocated turning New Jersey «red,» and she drew a rare rebuke from a judge for ordering Newark’s Democratic mayor arrested and then quickly dismissing the charges.
But Trump and DOJ leadership are standing firmly by Habba. The Trump administration found a workaround in the Northern District of New York when John Sarcone’s term as U.S. attorney recently expired there, but it is unclear if a similar option is available for Habba.
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Anne Joseph O’Connell, a Stanford Law School professor, wrote on Bluesky that she believed Trump had the authority to fire Grace and possibly re-appoint Habba to serve out another temporary term.
«The question now is, will they name Habba to a new 120-day interim US attorney appointment or will they turn to the Vacancies Act and name a different person as acting U.S. attorney,» O’Connell wrote.
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At least 12 people have died as violent clashes escalate along the Thailand-Cambodia border. Amid the rising tensions, Thailand has closed its border with Cambodia.
One of Thailand’s six F-16 fighter jets along its disputed border fired into Cambodia and destroyed a military target, according to Reuters, which cited the Thai army. The outlet added that Cambodia’s Ministry of National Defense said the jets dropped two bombs on a road. The ministry said that it «strongly condemns the reckless and brutal military aggression of the Kingdom of Thailand against the sovereignty and territorial integrity of Cambodia,» according to Reuters.
People rest at a shelter, following recent clashes along the disputed border between the two countries, according to authorities people have been killed across three border provinces, in Surin province, Thailand, July 24, 2025. (REUTERS/Pansira Kaewplung)
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Late on Wednesday, Thailand recalled its ambassador to Cambodia and announced it would expel the ambassador from Cambodia. On Thursday, Cambodia downgraded its diplomatic relations with Thailand to the lowest level and recalled all staff from its embassy in Bangkok, the Associated Press reported. Additionally, the Cambodian Foreign Ministry demanded all Thai diplomatic staff leave the country.
Malaysian Prime Minister Anwar Ibrahim said he would speak to the leaders of both countries by the end of the day, according to the BBC. Malaysia is currently serving as the chair of the Association of Southeast Asian Nations (ASEAN), putting Ibrahim in a position to mediate, as both Cambodia and Thailand are member states.
Royal Thai Army soldiers are pictured on armored vehicles on a road in Chachoengsao province on July 24, 2025. (Lillian Suwanrumpha/AFP via Getty Images)
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The U.S. Embassy in Bangkok and the U.S. Embassy in Phnom Penh advised American citizens living in or traveling near the border area to follow the directions of local security personnel.
This comes almost exactly one month after both embassies warned U.S. citizens in their respective countries against going near the border. The State Department issued a «Level 1 with risk» travel advisory — just above the lowest level — urging Americans to exercise caution, though travel is permitted.
Cambodian soldiers reload the BM-21 multiple rocket launcher in Preah Vihear province on July 24, 2025. Thailand launched air strikes on Cambodian military targets on July 24 as Cambodia fired rockets and artillery, killing a civilian, in a dramatic escalation of a long-running border row between the two neighbors. (STR/AFP via Getty Images)
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While it is unclear how the latest clashes between Cambodia and Thailand began, the violence follows a dispute in May, during which troops from both sides exchanged fire. According to The Associated Press, both sides said they acted in self-defense and one Cambodian soldier was killed.
Following the flare-up in May, both countries took retaliatory actions, with Thailand stopping nearly all border crossings before ultimately closing them entirely. Meanwhile, Cambodia banned Thai movies and TV.
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