Senate's Tax-Cut Bill Sparks Political Battle Amid Tax and Spending Changes
The U.S. Senate, under Republican control, has narrowly advanced President Trump's significant tax-cut and spending bill amid political discord. The legislation aims to fund key priorities such as immigration and military while offering tax breaks favoring the wealthy, raising concerns among Democrats and some Republicans.
The Republican-controlled U.S. Senate has narrowly advanced a sweeping tax-cut and spending bill championed by President Donald Trump. Despite political drama and delays, the Senate voted 51-49 to debate the 940-page bill, which aims to fund President Trump's priorities in immigration, border security, tax cuts, and military spending.
The move has been met with opposition from two Republican senators who joined Democrats, arguing the tax cuts favor the wealthy while hurting social programs. After intense lobbying by Republican leaders and Vice President JD Vance, the debate is set to commence following a required reading of the bill, as demanded by Democrats.
The legislation, which also involves changes to Medicaid and raises in the federal borrowing limit, awaits further discussion and amendment in the Senate. Elon Musk and other critics have labeled the bill as damaging to the economy, citing the projected increase in government debt and potential job losses.
(With inputs from agencies.)
ALSO READ
India's Electronics Boom: A $500 Billion Vision by 2030
High Stakes in Citgo Auction: Venezuela's Debt, U.S. Courts, and Billion-Dollar Bids Collide
Stalin Criticizes Tamil Nadu Governor for Withholding Assent on University Bill
West Bengal's Bold Move for Clinical Transparency: New Bill Proposed
Senate Republicans Aim to Halt EV Tax Credits
Google News