House Republicans will meet late Sunday night to try to move President Trump’s “one big beautiful bill.” Four GOP lawmakers blocked the legislation during a Budget Committee vote on Friday morning, though leadership is now confident they will be able to get it through the panel. 

The decision by one of the world’s biggest credit ratings agencies, Moody’s, to downgrade America’s credit rating has put an especially harsh spotlight on the negotiations between congressional leaders and House Republicans this weekend. The firm made the decision to strip America of its AAA rating due to the country’s ever-increasing national debt. 

Speaker Johnson on Sunday said that while Moody’s is not wrong in their assessment of America’s finances, the downgrade should actually be motivation to push the bill more quickly. 

“Moody’s is not incorrect, but … that emphasizes the very need for the legislation we’re talking about — historic spending cuts,” the speaker told “Fox News Sunday.”

“This will help to change the trajectory for the U.S. economy and send that message of stability to our allies and even our enemies around the world,” he added.

The cost estimates for the “one big beautiful bill” that have been released in recent weeks all show the legislation adding trillions of dollars to the deficit in its current form.

Secretary Bessent pushed blame for the downgrade on to past administrations. “I think that Moody’s is a lagging indicator,” Mr. Bessent told “Meet the Press” on Sunday. 

“We didn’t get here in the past hundred days. It’s the Biden administration and the spending that we have seen over the last four years,” the treasury secretary said. “We are determined to bring the spending down.”

The Budget Committee will meet Sunday after four House conservatives — Congressman Chip Roy, Congressman Ralph Norman, Congressman Andrew Clyde, and Congressman Josh Brecheen — voted on Friday with every Democrat to block the budget bill from advancing. At the time, Mr. Roy said that the legislation falls “profoundly short” of getting the United States to start closing the deficit. 

The Texas congressman has been leading negotiations with House leadership and the White House to enforce work requirements for Medicaid more quickly and repeal green energy tax credits instituted in the Inflation Reduction Act. 

“We all want tax relief, particularly for hardworking Americans and small businesses, but I’m not going to get put over the barrel because everybody’s freaking out that we got to deal with the taxes, especially at the top end of the bracket and so forth, if we’re not doing what we need to do on the spending side,” Mr. Roy told Steve Bannon on his podcast on Saturday. 

If the four conservatives on the Budget Committee change their votes to allow the legislation to move forward on Sunday night, the Rules Committee will then take up the bill Monday morning. If that committee then approves the bill, it will come to floor on Thursday at the earliest due to a rule that Republicans have instituted requiring a 72-hour reading period for all bills.