{"id":32868,"date":"2025-06-30T18:09:20","date_gmt":"2025-06-30T18:09:20","guid":{"rendered":"https:\/\/financialrush.com\/?p=32868"},"modified":"2025-06-30T18:09:20","modified_gmt":"2025-06-30T18:09:20","slug":"senate-races-to-pass-donald-trumps-flagship-tax-bill-as-deadline-looms","status":"publish","type":"post","link":"https:\/\/financialrush.com\/?p=32868","title":{"rendered":"Senate races to pass Donald Trump\u2019s flagship tax bill as deadline looms"},"content":{"rendered":"<p> \n<\/p>\n<div>\n<p>Unlock the White House Watch newsletter for free<\/p>\n<p class=\"article__content-sign-up-topic-description o3-type-body-base\">Your guide to what Trump\u2019s second term means for Washington, business and the world<\/p>\n<p><iframe class=\"article__content-sign-up-iframe close\" scrolling=\"no\" id=\"signUpIframe\" data-prev-url=\"\/register\/in-article-sign-up?ft-content-uuid=dd5c6f6e-69a6-4a1d-a307-e202a9d4d54b&amp;newsletter-id=65b8fec772badb00166eafc6\"><\/iframe><\/div>\n<div id=\"article-body\">\n<p>Donald Trump\u2019s \u201cbig, beautiful bill\u201d inched closer to passage on Monday, as Senate Republicans charged ahead with their efforts to pass the flagship tax legislation ahead of the US president\u2019s self-imposed July 4 deadline.<\/p>\n<p>But while Trump insisted the bill was \u201cmoving along nicely\u201d, it remained uncertain whether the sweeping legislation would get buy-in from enough Republicans on Capitol Hill to be signed into law by the end of the week.<\/p>\n<p>\u201cONE GREAT BIG BEAUTIFUL BILL, is moving along nicely! MAKE AMERICA GREAT AGAIN!\u201d Trump said in a post to his Truth Social platform early on Monday.<\/p>\n<p>The so-called big, beautiful bill \u2014 which would fund an extension of the tax cuts introduced in Trump\u2019s first term by slashing spending on healthcare and social welfare programmes \u2014 cleared a major procedural hurdle at the weekend when senators narrowly voted to start debating the legislation.<\/p>\n<p>On Monday morning, lawmakers began a marathon series of votes on amendments to the bill in a \u201cvote-a-rama\u201d process that was set to culminate in a final up-or-down vote on the bill as soon as Monday night.<\/p>\n<p>But with Democrats unified in their opposition to the bill, Trump\u2019s party can only afford to lose three votes in the Senate if the legislation is to pass the upper chamber of Congress by a simple majority. Two Republican senators \u2014 Kentucky\u2019s Rand Paul and Thom Tillis of North Carolina \u2014 have already said they would vote against the legislation.<\/p>\n<p>Several others have expressed reservations about the bill\u2019s size and scope, including specific provisions that would cut spending on Medicaid, the public health scheme for low-income and disabled Americans, and <a href=\"https:\/\/www.ft.com\/content\/f9528754-4f33-4f7b-97e5-7572b3f74cc6\" data-trackable=\"link\">reverse tax incentives<\/a> for the renewable energy industry.<\/p>\n<p>The House of Representatives last month passed its own version of the \u201cbig, beautiful bill\u201d. But any version that passes the Senate will need to be sent back to the House for approval before the final text can be sent to Trump\u2019s desk to be signed into law.<\/p>\n<p>Several House Republicans have already sounded alarm bills about the Senate version of the \u201cbig, beautiful bill\u201d \u2014 raising the possibility that even if senators pass the legislation this week, it could stall again in the House. Republican Speaker of the House Mike Johnson is contending with a razor-thin majority and can only afford to lose a handful of votes.<\/p>\n<p>The House Freedom Caucus, an influential group of conservative lawmakers, have threatened to torpedo the legislation. The group of fiscal hawks railed against the \u201cbig, beautiful bill\u201d in a post to X late Sunday, saying the Senate version of the bill would add 1,705 per cent more to the federal deficit than the version that passed the House last month.<\/p>\n<p>The non-partisan Congressional Budget Office on Sunday said the Senate proposals would add more than $3.2tn to US national debt over 10 years.<\/p>\n<p>The White House has repeatedly rejected CBO estimates and insisted that stronger economic growth and revenues from Trump\u2019s tariff regime would more than cover the cost of the legislation.<\/p>\n<\/div>\n\n<br \/><a href=\"https:\/\/www.ft.com\/content\/dd5c6f6e-69a6-4a1d-a307-e202a9d4d54b\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Unlock the White House Watch newsletter for free Your guide to what Trump\u2019s second term means for Washington,&hellip;\n","protected":false},"author":5,"featured_media":32869,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23],"tags":[],"class_list":["post-32868","post","type-post","status-publish","format-standard","has-post-thumbnail","category-us","cs-entry","cs-video-wrap"],"_links":{"self":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/posts\/32868","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=32868"}],"version-history":[{"count":0,"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/posts\/32868\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/media\/32869"}],"wp:attachment":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=32868"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=32868"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=32868"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}