Summary
The Senate is trying to pass a major tax and spending bill backed by President Trump. Republican leaders are dealing with internal disagreements, mainly about healthcare cuts and the bill's potential to increase national debt. The bill needs approval by both the Senate and the House before the approaching deadline.
Key Facts
- The Senate held a long session to discuss a tax and spending bill supported by President Trump.
- Republican leaders are seeking to gain support for the bill within their party.
- The bill includes tax breaks and spending cuts, with debates focusing on reductions to Medicaid.
- Vice President JD Vance may need to break a tie in the Senate vote.
- The bill is titled the “One Big Beautiful Bill Act” and is 940 pages long.
- House Speaker Mike Johnson indicated possible challenges when the bill returns to the House.
- President Trump expressed reservations about too many cuts in the bill.
- The Congressional Budget Office (CBO) estimated the bill could leave 11.8 million more Americans without insurance by 2034.
- According to the CBO, the bill would increase the deficit by about $3.3 trillion over ten years.
