President Trump’s tax and spending bill is facing challenges as the Senate prepares to vote on it today. This comes after senators made significant changes to the bill that the House passed over a month ago. NPR’s Ron Elving reported that Senate Republicans are rushing to adjust various provisions to ensure the bill can pass.
The Senate parliamentarians have removed several provisions that Republicans wanted, which complicates the bill’s chances. Since the bill needs to pass with a simple majority, any changes could jeopardize its approval. The bill is largely an extension of the tax cuts from Trump’s first term, but to offset the expected loss of revenue, Republicans are looking to cut food stamps and Medicaid benefits. Some senators have expressed strong opposition to these cuts.
Despite these issues, the Senate bill has shown a more favorable financial outlook. According to The Washington Post, an accounting change has allowed for a lower estimate of the deficit and national debt impact. However, new tax cuts included in the bill are causing further divisions between House and Senate Republicans, leaving uncertainty about its fate.
In a separate matter, the Senate recently voted against a measure that would have restricted President Trump from using military force against Iran. Democratic Senator Tim Kaine introduced this measure under the War Powers Act after Trump ordered strikes on Iran. The vote was 53 to 47, allowing Trump to proceed without congressional approval. This has reignited a long-standing debate about the War Powers Act and the president’s authority to engage in military actions.
Amid these political maneuvers, tensions with Iran continue to rise. Iran’s Supreme Leader, Ayatollah Khamenei, warned against further U.S. strikes, claiming victory over Israel in recent conflicts. Trump, however, has dismissed Khamenei’s claims, asserting that Iran suffered significant losses.
In another development, Trump announced that the U.S. is ending trade negotiations with Canada, following Canada’s implementation of a 3% tax on tech companies. Trump has criticized this move, stating that it unfairly targets American businesses. The economic landscape remains mixed, with the S&P 500 hitting a record high, yet overall growth appears weak. The Federal Reserve has indicated that Trump’s tariffs are creating uncertainty in the economy, which consumers are also feeling.
As these events unfold, the political and economic climate remains tense, with significant implications for both domestic and international affairs.