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.

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.

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