A House Budget Committee framework would provide up to $73 billion for defense and intelligence, $12 billion for farm assistance and $10 billion for tighter voting rules, but Republican divisions leave passage uncertain.
House Republicans are moving ahead with a $95 billion budget package more than four months into the Iran war, seeking to lock in tens of billions of dollars before the midterm elections to help cover rising military costs. The framework advanced by the House Budget Committee on Thursday would provide as much as $73 billion in defense and intelligence funding, $12 billion for farm assistance and another $10 billion for measures to tighten voting rules in states, partially addressing a key demand from Trump. The plan is narrower than the broader military spending increase Trump has been seeking, and its path through Congress remains uncertain because of divisions within the Republican Party. The package still omits any crypto-related language, leaving digital asset legislation on a separate track despite Trump’s recent public push for Senate action on that front. For markets, the proposal points to additional unfunded federal spending tied to war costs and domestic policy priorities. If enacted, that could add to Treasury borrowing needs and keep pressure on yields, a backdrop that can weigh on risk assets.