US EditionDelicate balancing act for Senate on reconciliation tax package
- Senate Republicans are considering a comprehensive tax and spending proposal that aims to prolong many of the 2017 tax cuts and boost funding for border security, with plans for implementation in mid-2025.
- The bill aims to prevent a scheduled major tax hike at the end of 2025 but faces disagreement over its impact on federal deficits and debt.
- Proponents like Sen. Ron Johnson argue the bill reduces the deficit through spending cuts, while critics such as Maya MacGuineas and Elon Musk warn it adds to the debt.
- Analyses estimate the bill could raise the 10-year deficit by $2.6 trillion despite $100 billion in added revenues and $1.6 trillion in mandatory spending cuts.
- Legislators expect some Senate modifications but remain optimistic most of the bill will survive amid debates on deficit concerns and required spending cuts.
10 Articles
10 Articles
Colorado Springs Gazette
Colorado PoliticsClash over deficits threatens Senate passage of GOP tax bill
A clash over the reconciliation bill’s effect on the federal debt imperils efforts to pass the sweeping Republican tax and spending bill in the Senate. The reconciliation legislation, the One Big Beautiful Bill Act, would extend much of the tax…
Trump Tax Bill Faces The Senate - Balance of Power
Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF. Significant changes are in store for President Donald Trump’s signature $3.9 trillion tax-cut bill as the Senate begins closed-door talks this week on legislation that squeaked through the House by a single vote. Senate Republican leaders are aiming to make permanent many of the temporary tax cuts in the House bill, a move that would increase the bill’s more than $2.5 trilli…
Senate Begins Putting Its Stamp on Giant Trump Tax
"Significant changes are in store for President Donald Trump’s signature $3.9 trillion tax-cut bill as the Senate begins closed-door talks this week on legislation that squeaked through the House by a single vote," Bloomberg reports."Senate Republican leaders are aiming to make permanent many
Coverage Details
Bias Distribution
- 86% of the sources are Center
To view factuality data please Upgrade to Premium
Ownership
To view ownership data please Upgrade to Vantage
