U.S. President Donald Trump's sweeping tax bill failed to clear a key procedural hurdle on Friday, as hardline Republicans demanding deeper spending cuts blocked the measure in a rare political setback for the Republican president in Congress.

Wealthy Americans and business investors are among the big winners in GOP draft tax legislation, while immigrants and elite universities get hammered.

House Speaker Mike Johnson’s push to pass a sweeping tax and spending bill — the centerpiece of President Donald Trump’s agenda — is running into trouble, as the Louisiana Republican attempts to paper over divisions in his conference over growing deficits, cuts to Medicaid and contentious tax provisions.