Senate Advances Trump Tax Cuts Despite Soaring Cost Estimate

What’s Happening? | Trump Tax Cuts

• U.S. Senate Republicans moved forward with Trump’s sweeping tax cut (Trump Tax Cuts) and spending bill.
  
• The Congressional Budget Office (CBO) estimates the bill will add $3.3 trillion to national debt over 10 years.
  
• That’s $800 billion more than the House version passed last month.
  

Cost Controversy

• Republicans reject the CBO’s cost methodology.
  
• Instead, they use alternative “dynamic scoring” which excludes some costs.
  
• Democrats say the GOP is using “fake math” to hide the true cost.
  

What’s in the Bill?

• Extends Trump’s 2017 tax cuts.
  
• Includes spending boosts for the military and border security.
  
• Contains cuts to Medicaid, SNAP benefits, and other social programs.
  

Senate Drama

• The Senate narrowly advanced the bill with a 51-49 vote.
  
• Republicans Thom Tillis and Rand Paul voted against the bill.
  
  • Tillis opposed Medicaid cuts.
    
  • Paul opposed the $5 trillion increase in borrowing limit.
    

Trump’s Response

• Trump hailed the vote as a “great victory”.
  
• Celebrated Tillis’ decision not to run for re-election after Trump threatened to back a primary challenger.
  
• Warned other Republicans: “Remember, you still have to get re-elected.”
  

What’s Next?

• The Senate will begin voting on amendments starting Monday 9 a.m. EDT.
  
• If passed, the bill will return to the House for final approval before Trump signs it into law.
  
• Senate Democrats forced the entire 940-page bill to be read aloud to delay passage.
  

Impact Forecast

• CBO: 16 million Americans could lose health insurance.
  
• Outside analysts: GOP cost claims are a “magic trick.”
  
• Senate Republicans aim to pass it by July 4 — a symbolic deadline before the more serious debt ceiling crisis later this summer.

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