GOP Rushes to Pass Trump's Tax Bill by July Fourth Deadline

The Senate is expected to have a rare weekend session to pass President Donald Trump's tax breaks and spending cuts package by July Fourth. Republicans are facing opposition within their party over proposals to reduce spending on programs like Medicaid and food stamps to cover the cost of $3.8 trillion in tax breaks. The 940-page bill was released late Friday, with a procedural vote expected Saturday. Senate passage could take days, with a final vote needed in the House before reaching the White House.

President Trump is urging Congress to finish quickly, despite some GOP lawmakers expressing concerns. The bill aims to make permanent Trump's tax breaks, add new breaks, and allocate funds for national security. However, disagreements over spending cuts are causing division among Republicans. Some senators are pushing for deeper cuts, while others are worried about the impact on health care and rural hospitals.

Recent setbacks led to revisions in the bill, including a compromise on the SALT provision. The CBO estimates that millions could lose health care and food aid under the proposed bill. Top income-earners would see a significant tax cut, while the poorest Americans could face increased costs.

Republicans are racing against time to meet Trump's deadline, with leaders working to secure support from every lawmaker. The bill's fate remains uncertain as the weekend session unfolds.

According to the source: AP News.