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US Senate Republicans unveil their version of Trump's sweeping tax-cut, spending bill

  • U.S. Senate Republicans introduced a 940-page bill focused on tax reductions and increased spending that supports President Trump's priorities, with a vote planned for Saturday afternoon in Washington, D.C.
  • The bill follows a self-imposed July 4 deadline set by President Trump, although Senate divisions and procedural roadblocks could delay completion.
  • The legislation proposes making the 2017 tax cuts permanent, boosting funding for the military and border security, and raising the limit for deductions related to state and local taxes to $40,000.
  • Senate Minority Leader Chuck Schumer called the bill "deeply flawed" and criticized the rush to meet an "artificial deadline," while Trump emphasized the bill will modernize the air traffic control system as "THE BEST BY FAR!"
  • The bill faces challenges in Congress, including Republican concerns over Medicaid cuts and the need for House approval, with efforts continuing to expedite its passage to meet Trump's deadline.
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yourcapitalminds.com broke the news in on Monday, June 16, 2025.
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