A bill aimed at significantly cutting taxes and streamlining government spending has successfully passed a procedural vote in the US Senate. The document is being actively promoted by President Donald Trump.
The vote took place on Saturday, June 28. The document was supported by 51 legislators, 49 voted against.
The Path to Passage of Trump's Tax Bill
Despite the successful procedural vote, it remains unclear whether the Senate, where the Republican Party holds a 53-to-47 majority in favor of the Democratic Party, will be able to muster the necessary votes to finally pass the bill.
Now watching
Republicans are determined to pass the massive 940-page document before their July 4 deadline.
Trump calls the bill “great and beautiful.” The White House chief described the Senate’s successful vote as a “big victory.”
“I look forward to growing our economy, reducing waste, securing our borders, fighting for our military and veterans, ensuring our health care system helps those who truly need it, protecting our Second Amendment (which guarantees citizens the right to keep and bear arms. – Ed.) and so much more,” the president wrote on The Truth Social network.
What changes does Trump's bill provide for?
The “great beautiful” bill sponsored by President Trump is a comprehensive change. It includes tax cuts for individuals and businesses, a significant increase in immigration funding, and a reduction in Medicaid spending.
The latter is a key social program that helps cover medical expenses for low-income citizens, people with disabilities, children from low-income families and other socially vulnerable groups.
The document also provides for a significant increase in defense spending. In particular, this concerns funding for the development of a modern missile defense system called Golden Dome. The initiative provides for an increase in military spending by $150 billion by the end of this year.
The bill also provides additional federal funding to carry out mass deportations and strictly enforce Trump's immigration laws.
An important component of the document is the increase in the national debt ceiling by $5 trillion.
The final vote on the “great beautiful” bill will take place soon. The US House of Representatives has already expressed its support for this document, voting for it on May 22.
