A massive tax and spending bill is under intense review in the Senate, with Republicans aiming to pass it before the July 4 deadline. President Donald Trump has urged lawmakers to 鈥渓ock themselves in a room鈥� until it鈥檚 done and ordered that 鈥渘o one goes on vacation鈥� until the bill is on his desk.The bill seeks to make the 2017 Trump-era tax cuts permanent while adding new breaks: no taxes on tips, overtime pay, and some car loans. Seniors earning under $75,000 could see a new $6,000 deduction. The child tax credit would rise to $2,200 in the Senate version.According to the Congressional Budget Office, the wealthiest Americans could receive a $12,000 tax break, while middle-income households could get up to $1,500. The poorest could lose about $1,600 annually due to new 80-hour-a-month work requirements for Medicaid and food stamps. Nearly 11 million people could lose health coverage, and 3 million could lose food aid, according to the CBO.Lawmakers are also concerned that the Medicaid cuts could devastate rural hospitals. The Senate is weighing a new rural hospital fund to soften the blow, but the proposal is still being worked out. Nearly 200 rural hospitals have closed nationwide in the past two decades, and hundreds more remain at risk, according to the Center for Healthcare Quality and Payment Reform.The bill includes $350 billion for immigration and national security, funding the largest deportation operation in U.S. history. It would finance 100,000 new immigration detention beds, hire 10,000 new ICE officers with signing bonuses, and raise immigration fees 鈥� including a $1,000 charge for asylum-seekers. The bill also funds development of a 鈥淕olden Dome鈥� missile defense system and $40 million for Trump鈥檚 proposed National Garden of American Heroes.One provision banning states from regulating artificial intelligence has been retained, while a proposal to sell millions of acres of public land was ruled out of order.While Republicans say the cuts to Medicaid, food stamps, and green energy programs would save $1.5 trillion over a decade, the true cost of the bill is hotly debated. The CBO estimates the package could add $2.4 trillion to the national debt 鈥� or more. Democrats have slammed GOP budget math as 鈥渕agic,鈥� accusing the party of hiding the real price tag behind accounting tricks.Senate Majority Leader John Thune's office says votes on the package are trending to begin Friday.Get the latest on the One Big Beautiful Bill, and other Washington, D.C. happenings here:
WASHINGTON — A massive tax and spending bill is under intense review in the Senate, with Republicans aiming to pass it before the July 4 deadline. to 鈥渓ock themselves in a room鈥� until it鈥檚 done and ordered that 鈥渘o one goes on vacation鈥� until the bill is on his desk.
seeks to make the permanent while adding new breaks: no taxes on tips, overtime pay, and some car loans. Seniors earning under $75,000 could see a new $6,000 deduction. The child tax credit would rise to $2,200 in the Senate version.
the wealthiest Americans could receive a $12,000 tax break, while middle-income households could get up to $1,500. The poorest could lose about $1,600 annually due to new 80-hour-a-month work requirements for Medicaid and food stamps. Nearly 11 million people could lose health coverage, and 3 million could lose food aid, according to the CBO.
Lawmakers are also concerned that the Medicaid cuts could devastate rural hospitals. The Senate is weighing a new rural hospital fund to soften the blow, but the proposal is still being worked out. Nearly 200 rural hospitals have closed nationwide in the past two decades, and hundreds more remain at risk,
The bill includes $350 billion for immigration and national security, funding the largest deportation operation in U.S. history. It would finance 100,000 new immigration detention beds, hire 10,000 new ICE officers with signing bonuses, and raise immigration fees 鈥� including a $1,000 charge for asylum-seekers. The bill also funds development of a and $40 million for Trump鈥檚 proposed National Garden of American Heroes.
One provision banning states from regulating artificial intelligence has been retained, while a proposal to sell millions of acres of public land was ruled out of order.
While Republicans say the cuts to Medicaid, food stamps, and green energy programs would save $1.5 trillion over a decade, the true cost of the bill is hotly debated. The CBO estimates the package could add $2.4 trillion to the national debt 鈥� or more. Democrats have slammed GOP budget math as 鈥渕agic,鈥� accusing the party of hiding the real price tag behind accounting tricks.
Senate Majority Leader John Thune's office says votes on the package are trending to begin Friday.
Get the latest on the One Big Beautiful Bill, and other Washington, D.C. happenings here:
