On Tuesday, the Senate, by a vote of 51 to 50, passed President Trump's Big Beautiful Bill with VP Vance casting the tie-breaking vote, sending it to the House for final approval following a 27-hour blitz of amendments.
President Trump is expected to sign it on Friday, Independence Day.
This will make permanent the 2017 tax cuts, which were set to expire at the end of the year, raising taxes on everyone to pre 2017 levels. In addition, Trump's campaign promises of no tax on tips, no tax on overtime and an increase of State and Local tax deductions (SALT) were included.
“Today was a historic day for our country, and, we’re very excited to be a part of something that is gonna make America stronger, safer, and more prosperous,” Senate Majority Leader John Thune (R-SD) told reporters following the vote.
“This is historic in my time in Washington DC,” he added. “This is the first time we’ve done anything meaningful on entitlement reform.”
The megabill, which clocks in at nearly 900 pages in length, extends most of Trump’s 2017 tax cuts; reduces taxes on tips and overtime pay; and increases spending on defense, border security, and energy exploration while slashing entitlement outlays.
Eventually, leadership agreed to deepen cuts to Medicaid from the version that passed the lower chamber last month, assuaging Wisconsin Senator Ron Johnson’s concerns.
“I’m convinced they’re committed to returning to reasonable pre-pandemic spending, and I’ll be highly involved in a process to achieve and maintain it,” Johnson told “Fox & Friends” Monday morning.
It now goes to the House for final passage. It remains to be seen if the changes made are acceptable as is.
In the meantime, Promises Made, Promises Kept.
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