What’s in President Trump’s Tax Bill as it Heads to the Senate

WSJ What’s News

The Wall Street Journal

News, Daily News

4 • 4K Ratings

🗓️ 22 May 2025

⏱️ 13 minutes

🔗️ Recording | iTunes | RSS

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Summary

P.M. Edition for May 22. The House passed President Trump’s sprawling tax-and-spending bill, after some last-minute changes this morning united Republican holdouts. WSJ tax policy reporter Richard Rubin talks about what made it into the bill, and what happens next. Plus, the Trump administration has blocked Harvard’s ability to enroll foreign students. And U.S. antitrust enforcers argue that large institutional investors who own shares in rival companies may be violating antitrust laws. Dave Michaels, who covers corporate law enforcement, joins to discuss what this could mean for those big institutional investors. Alex Ossola hosts. Sign up for the WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:23.9	Adobe Express, the quick and easy create anything app.
0:33.2	What's in President Trump's tax and spending bill that's headed to the Senate?
0:37.6	Plus, the Trump administration blocks Harvard from enrolling foreign students.
0:42.5	And antitrust enforcers raise concerns about how institutional investors wield ownership of shares in rival companies.
0:49.6	If courts eventually ruled that this kind of common ownership could be a violation of antitrust law,
0:56.9	it would be a huge deal, frankly for the business model of this kind of fund investing, which is huge.
1:04.6	It's Thursday, May 22nd.
1:06.7	I'm Alex Osloff for the Wall Street Journal.
1:08.9	This is the PM edition of What's News, the top headlines and business stories that move the world today.
1:18.7	Early this morning, the Republican-led House passed President Trump's sprawling tax and spending bill
1:24.3	after party leaders made a series of last-minute changes that united their warring wings.
1:29.4	The vote was 215 to 214, with one lawmaker voting present.
1:34.4	Richard Rubin, who covers tax policy for the journal, joins me now.
1:38.3	Okay, Richard, what was actually in this final bill that did eventually pass?
1:42.5	This bill is a combination of weirdly tax cuts, tax
	...

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