Indian Tax Update - Senate's long day turns to night as GOP works to shore up support on Trump's big bill

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Senate's long day turns to night as GOP works to shore up support on Trump's big bill

The Senate engaged in extended voting sessions as Republican leaders struggled to secure support for the president's comprehensive tax and spending legislation. The 940-page bill faces opposition from two Republican senators, leaving leadership with minimal margin for passage given narrow majorities. The package includes $4.5 trillion in tax cuts, $1.2 trillion in spending reductions primarily affecting Medicaid and food assistance programs, and $350 billion for border security. Democratic leaders proposed numerous amendments during the vote-a-rama process, though most are expected to fail. Congressional Budget Office analysis indicates 11.8 million Americans would lose insurance coverage by 2034, with the deficit increasing by $3.3 trillion over ten years.


Categories: TaxLaws, News, TaxTMI
Source: https://www.taxtmi.com/news?id=48080 Jul 01, 2025, 08:08 AM