By David Morgan and Bo Erickson WASHINGTON (Reuters) -Hardline Republicans in the U.S. House of Representatives blocked President Donald Trump's sweeping tax bill on Friday over concerns it did not do enough to cut spending hours before Moody's stripped the federal government of its once top-tier credit rating.

The 37-member House Budget Committee convened for a crucial vote on Trump's "big, beautiful bill" that could determine whether Republicans can hold a vote for passage next week in the House of Representatives, which would keep the president's agenda on course for possible enactment by a July 4 deadline.

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.