Trump’s US$4.5 trillion tax cut bill clears key Senate vote as Republican infighting eases
Senators changed some details in the bill to win over holdouts and meet the July 4 deadline set by the US president
US President Donald Trump’s US$4.5 trillion tax cut bill prevailed in a crucial Senate test vote, a sign that Republican leaders are resolving the infighting over portions of the legislation and moving towards meeting a July 4 deadline the president has set for passage.
Senate Majority Leader John Thune and his lieutenants may still need to tweak portions of Trump’s signature economic legislation to win the 50 votes it needs to pass the Senate.
But the Senate voted on Saturday to begin debate on the legislation just hours after party leaders unveiled the latest version of the massive tax and spending package. The measure advanced by a 51 to 49 vote, with just two Republicans voting to stall consideration.
Trump on social media hailed the “great victory” for his “great, big, beautiful bill”.
Democrats are now planning to demand a full reading of the bill text, which could push a final vote into Monday.
The bill includes nearly US$4.5 trillion worth of tax cuts, according to the non-partisan Joint Committee on Taxation. But Republicans are aiming for only US$693 billion of those tax reductions to count in the official bill cost – assuming they are able to successfully use a budget gimmick that would not count the extension of Trump’s first-term cuts in the price tag.