Senate Republicans Aim for Major Tax and Spending Bill Over the Weekend
WASHINGTON – Senate Republicans are working this weekend to push through a significant tax and spending bill.
Senate Majority Leader John Tune (R-SD) announced that the “ambitious” vote scheduled for Friday at noon would address the multi-billion dollar setbacks in Medicaid spending reforms and discuss revisions to the proposed bill.
This legislation could be passed with a simple majority using a budget reconciliation process, integrating elements of President Trump’s 2017 tax cuts, eliminating tips and taxes on overtime, and increasing funding for border security and green energy tax credits established by the previous administration.
However, enacting all these provisions would require raising the debt ceiling by approximately $5 trillion.
The GOP holds a narrow majority of 53-47 in the Senate. If three members oppose the bill, the package could only pass with the tiebreaking vote from Vice President JD Vance.
A final version of the proposed law hasn’t been revealed yet. The House of Representatives had previously passed the bill on May 22nd with just one vote in favor. Following Senate revisions, the House will need to vote on it again.
Trump expressed optimism that both chambers would approve the bill in time for him to sign it by July 4th.
He mentioned on Truth Social, “The great US Senate Republicans are working to complete the ‘one, big, beautiful bill’ all weekend.” He urged the House to be ready to send it his way by July 4th, believing it’s achievable.
The GOP paused earlier this week to address a ruling from Senate Parliamentarian Elizabeth McDonough, who assessed that some aspects of the law did not adhere to procedural rules.
This provision was deemed a violation of the “bird rule,” named after former Senate Majority Leader Robert Byrd.
In response, Senator Tommy Tuberville (R-Ala.) criticized McDonough on social media, arguing, “This is the perfect example of why Americans hate swamps.” He pointed to her appointment by Democrats in 2012 as part of the issue.
Some senators from the GOP, including Lisa Murkowski (R-Alaska) and Susan Collins (R-Maine), along with others like Josh Hawley (R-Mo.) and Jerry Moran (R-Kan.), have raised concerns surrounding the healthcare spending reforms.
Libertarian-minded Senators Rand Paul (R-KY) and Ron Johnson (R-Wis.) have also expressed worries about the bill’s effects on the national deficit, citing Congressional Budget Office forecasts.
The House-passed bill plans to increase the state and local tax (SALT) deduction from $10,000 to $40,000 over five years, although this particular item was previously debated within the Senate.
House Speaker Mike Johnson (R-La.) reported that progress had been made regarding the SALT issue following discussions between the Treasury Secretary and Republican lawmakers on Thursday night.
“No one will be fully satisfied, but that’s part of the process,” Johnson acknowledged. “I believe other concerns will be sorted out today, allowing us to move ahead.”
