Senate Republicans Unveil Trump Tax Cuts, Spending Bill/ Newslooks/ WASHINGTON/ J. Mansour/ Morning Edition/ Senate Republicans revealed Trump’s vast tax and spending bill, aiming for passage by early July. The $3 trillion plan faces GOP divides over Medicaid cuts and tax provisions. Democrats warn the bill favors the wealthy while slashing key social programs.
Quick Look
- Senate GOP releases 940-page Trump tax, spending bill
- Proposed $3 trillion debt increase fuels fierce debate
- Trump hints July 4 deadline may slip slightly
Senate Republicans Reveal Trump’s Massive Tax, Spending Bill
Deep Look
WASHINGTON, June 28 — Senate Republicans unveiled their version of President Donald Trump’s sweeping tax-cut and spending bill on Friday, setting the stage for a pivotal vote this weekend that could usher the legislation through Congress next week.
The 940-page “One Big Beautiful Bill Act” aims to permanently extend Trump’s 2017 tax cuts, deliver additional tax breaks, and boost military and border security funding. Analysts say the House version could add about $3 trillion to the current $36.2 trillion national debt, despite White House claims that the bill would shrink annual deficits by $1.4 trillion.
Senate leaders plan an initial procedural vote on Saturday, potentially launching a marathon session as Democrats prepare a barrage of amendments. With a slim 53-47 majority, Republicans can afford minimal defections.
“By passing this bill now, we will make our nation more prosperous and secure,” said Senate Budget Committee Chairman Lindsey Graham.
Among key sticking points is the proposed trimming of Medicaid spending. To appease rural-state Republicans, the Senate bill delays planned cuts to Medicaid provider taxes and injects $25 billion to support rural hospitals and clinics between 2028 and 2032.
Another contentious feature is raising the cap on federal deductions for state and local taxes (SALT) to $40,000, adjusted for inflation through 2029, before dropping back to $10,000. House Republicans from high-tax states like New York, New Jersey, and California see this as crucial for retaining their narrow majority.
The bill also includes:
- A new tax break for seniors and other taxpayers
- Rollbacks on clean energy initiatives from the Biden era
- A hike in the Treasury’s borrowing cap to avoid a debt default
Democrats are united in opposition, arguing the plan slashes aid to low-income Americans while benefiting the wealthy.
“It has the biggest cuts to food funding ever,” said Senate Democratic Leader Chuck Schumer. “And it could result in over 2 million people losing their jobs.”
Despite internal divisions, Republicans have not yet rejected any of Trump’s legislative priorities. However, with far-right senators demanding deeper cuts, even Trump hinted Friday that his July 4 deadline might slip.
“It’s important,” he said, “but it’s not the end-all.”
If passed in the Senate early next week, the House is expected to swiftly finalize the measure, potentially delivering a significant victory for Trump ahead of Independence Day.
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