High Stakes in Senate: Trillion-Dollar Tax Bill Sparks GOP Divide

The U.S. Senate's proposed tax-cut and spending bill, part of President Donald Trump's agenda, is projected to increase the federal debt by $3.3 trillion, according to the Congressional Budget Office (CBO). This estimate surpasses the House of Representatives' version by $800 billion and has intensified political tensions.

Republicans, who control the Senate, have dismissed the CBO's cost assessment methods. However, this figure has fueled Democratic opposition and internal GOP discord, as illustrated by Senator Thom Tillis announcing he won't seek re-election after facing Trump's rebuke for voting against the bill. Debate continues over the bill's potential impact, including Senator Mark Warner's warning of health insurance losses affecting millions of Americans.

Senate Republicans counter the CBO with alternative financial projections that exclude costs from extending the 2017 tax cuts. Despite facing resistance from some GOP members, the Senate aims for a near-term vote, following extensive debates and amendments. If passed, the bill will move to the House for final approval before Trump can enact it into law.

(With inputs from agencies.)