In a high-stakes weekend session, the U.S. Senate nudged forward one of the most expensive bills in American history — a sweeping tax cut (Trump’s Tax Cut) and spending package backed fiercely by former President Donald Trump. But the bill’s momentum comes with a staggering price tag: $3.3 trillion added to the national debt over the next decade, according to the nonpartisan Congressional Budget Office (CBO).
The Math That’s Sparking a Political Firestorm
The CBO’s fresh estimate adds $800 billion more than the House version passed last month. Republicans, however, are rejecting the CBO’s methodology and leaning on alternative math that downplays the costs — a move critics call “budgetary smoke and mirrors.”
Senator Chuck Schumer (D-NY) called the Republicans’ approach “fake math and accounting gimmicks”, claiming the bill slashes safety nets like Medicaid, SNAP benefits, and public-sector jobs, while doling out tax breaks to billionaires.
What’s Inside the Megabill?
Spanning 940 pages, this multi-pronged legislation includes:
- Extending Trump’s 2017 tax cuts
- Increased spending on border security and military
- Cuts to healthcare safety nets
- A controversial retaliatory tax provision (Section 899) targeting foreign investors
- Raising the borrowing limit by $5 trillion
A Divided GOP and Trump’s Shadow Over the Vote
Despite Republican control of both chambers, the Senate only narrowly advanced the bill, 51-49, with two GOP senators — Thom Tillis and Rand Paul — voting against it.
Tillis, who represents North Carolina, warned of broken promises to constituents losing Medicaid access. His stance cost him Trump’s support, prompting Tillis to announce he won’t seek re-election. Trump swiftly celebrated that decision as “Great News!” and reminded others: “You still have to get reelected.”
Rand Paul’s opposition was rooted in fiscal conservatism. He balked at adding another $5 trillion to the debt ceiling, calling it irresponsible.
What Happens Next?
The Senate is now bracing for a “vote-a-rama” — a long series of amendment votes set to begin Monday morning. If passed, the bill goes back to the House before heading to Trump’s desk for signing.
While Trump is pressing for final passage before July 4, the true deadline looms later this summer: raising the debt ceiling to avoid a catastrophic government default.
The Stakes
If passed, this bill could become Trump’s signature domestic policy win — but it also sets up a showdown over fiscal responsibility, healthcare, and social equity that could haunt Republicans in the 2026 midterms.
Bottom line: The Senate is playing with political fire. Whether it burns the national debt, safety nets, or re-election hopes — remains to be seen.
Source: Reuters : Trump’s Tax Cut
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