Senate Approves Trump’s Controversial Tax and Spending Bill

The Senate finalized a significant vote on President Trump's domestic policy bill, which has sparked fierce debates regarding its economic implications and political consequences.

In a closely watched session, the Senate approved President Trump’s major domestic policy bill with a slim margin of 51 to 50, following over a day of intense negotiations and discussions. Vice President JD Vance made the decisive tiebreaking vote, while three Republican senators—Susan Collins, Thom Tillis, and Rand Paul—dissenting from their party's stance.

Economically, experts predict that the newly passed legislation could add approximately $3.3 trillion to the national debt over the next decade, leading to a potential fiscal upheaval as it significantly reduces the government's tax revenue. Analysts warn that this development may herald a severe debt crisis in the country.

The bill predominantly seeks to extend the tax cuts initially enacted during Trump's first term, totaling about $3.8 trillion, while also promising funding boosts for military operations and border security. Yet, the legislation poses dire consequences for millions of low-income Americans, many of whom could face severe reductions in health insurance and federal assistance programs.

As legislative battles shift to the House, a vote is anticipated as early as today, wherein Republicans can afford a loss of no more than three votes, raising the stakes for the bill's future.