Senate Advances Major Tax and Spending Bill Amid Medicaid and Debt Concerns

The Republican-controlled Senate has entered the final phase of voting on a comprehensive tax cut and spending bill, aiming for passage soon. The bill, spanning 940 pages, faced internal GOP dissent over concerns like Medicaid cuts and national debt impact, with Senators Rand Paul and Thom Tillis opposing it. Medicaid reductions and deficit concerns dominate the debate, with some Republican senators pushing amendments to address these issues.

 The Congressional Budget Office projects the bill would increase the national debt by $3.3 trillion over ten years and could result in nearly 12 million people losing health insurance by 2034. The legislation includes substantial tax cuts, increased military spending, immigration enforcement funding, and Medicaid and SNAP cuts, with changes to clean energy funding and state tax deductions. The Senate is using a budget reconciliation process to bypass the usual 60-vote threshold, a move that sets a procedural precedent.

If passed, the bill moves to the House, where further negotiations are expected. The GOP aims for a presidential signature by early July, despite significant opposition from within the party and Democrats citing the bill’s impact on healthcare coverage and fiscal responsibility.