Tuesday, 02 January 2024 12:17 GMT

Donald Trump Celebrates Senate Passage Of Tax And Spending Bill: 'Music To My Ears'


(MENAFN- Live Mint) US President Donald Trump on Tuesday (July 1) hailed the Senate's narrow passage of his tax and spending bill, calling it“music to my ears”, in a moment of political triumph that followed days of acrimonious debate and marathon voting.

The nearly 900-page policy, dubbed the“One Big Beautiful Bill,” includes massive tax cuts, reductions to Medicaid, expanded immigration enforcement, and new tax breaks for tipped and overtime income. The Senate approved it in a razor-thin 51-50 vote after Vice President JD Vance broke the tie, marking a major victory for Trump's second-term agenda.

“Music to my ears”

Trump was informed of the bill's passage while holding a roundtable discussion at his new migrant detention facility in Florida,“Alligator Alcatraz.”

“Wow, music to my ears,” Trump said when a reporter broke the news.

He quickly added:“I was also wondering how we're doing, because I know this is primetime, it shows that I care about you.”

Trump praised Vice President Vance for casting the decisive vote:“He's doing a good job.”

Divided GOP, narrow path to passage

The Senate vote capped an extraordinary 72 hours of tension within the Republican Party. Three GOP senators-Rand Paul of Kentucky, Thom Tillis of North Carolina, and Susan Collins of Maine-defected over concerns ranging from deficit increases to steep Medicaid cuts.

Even so, Senate Majority Leader John Thune managed to corral the rest of his fractious conference to support the bill.

Asked what he would say to House Republicans still opposed to the Senate's changes, Trump argued the bill offered something for everyone:

“It tells you there's something for everyone. ... It's a great bill. There is something for everyone, and I think it's going to go very nicely in the House. Actually, I think it will be easier in the House than it was in the Senate.”

Bill's key provisions

The legislation would:

Make permanent Trump's 2017 tax cuts, set to expire later this year.

Create new tax breaks for tips, overtime pay, and retirees.

Roll back billions in green energy incentives.

Add $350 billion for border security and mass deportation efforts.

Impose work requirements and funding cuts to Medicaid and food assistance programs.

The Congressional Budget Office estimates the bill would increase the national debt by $3.3 trillion over the next decade-a projection Republicans largely dismissed.

House showdown ahead

The bill now moves to the House, where Speaker Mike Johnson signaled plans to fast-track approval despite grumbling from fiscal conservatives. Republicans hold only a three-seat majority, leaving little margin for error.

“The House will work quickly to pass the One Big Beautiful Bill that enacts President Trump's full America First agenda by the Fourth of July,” Johnson said in a statement.“The American people gave us a clear mandate, and after four years of Democrat failure, we intend to deliver without delay.”

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Live Mint

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