Political Tug-of-War: Trump's Tax-Cut Bill Faces Senate Hurdles
U.S. Senate Republicans are pushing to pass President Trump's tax-cut and spending bill, despite internal party disagreement over its $3.3 trillion debt impact. Democrats oppose it, citing healthcare and environmental concerns, while Republicans argue tax cuts benefit families and businesses. A critical debt ceiling increase adds urgency.
In a high-stakes Senate session, Republicans aim to pass President Donald Trump's comprehensive tax-cut and spending bill, facing internal strife over its potential $3.3 trillion impact on national debt. The Republicans are employing an arcane legislative process to bypass rules requiring 60 votes for approval.
Senate Majority Leader John Thune expressed optimism tempered by caution, saying, "Never until we vote." The nonpartisan Congressional Budget Office reports that the Senate's bill could raise the national debt by $800 billion more than an earlier House version. Disagreements persist, as international investors reconsider the U.S. Treasury market.
The bill's passing could escalate the U.S. debt ceiling by $5 trillion, raising default concerns. Opponents, including Republicans Rand Paul and Thom Tillis, criticize its Medicaid cuts. The bill, linked to extending 2017 tax cuts, remains at the center of intense negotiations and partisan discord.
(With inputs from agencies.)
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