President Trump’s tax and spending bill has passed in the House by a narrow margin and is now headed to the Senate. This legislation is expected to add a staggering $3.3 trillion to the national debt. How the Senate handles this bill will reveal much about the current state of the Republican Party.
Joining the discussion is Alex Conant, a Republican strategist. He believes that despite some concerns, the Senate will ultimately pass the bill. Senate Majority Leader John Thune can only afford to lose three Republican votes. Some senators, like Ron Johnson from Wisconsin, have voiced strong objections to the bill’s potential impact on the deficit, calling it “completely unacceptable.” However, Conant is confident that the Senate will make adjustments but will still move forward with the bill.
Conant points out that the Republicans need to pass this legislation for several reasons. The tax cuts from 2017 are set to expire at the end of the year, and the party is also facing a deadline to raise the debt limit by August. He emphasizes that Trump remains highly popular among Republican voters, making it unlikely that members of Congress will oppose the President on this matter.
While there are concerns about the bill’s impact on the deficit and cuts to Medicaid, Conant believes these issues won’t derail the bill. He acknowledges that Republicans are worried about the growing deficit, projected to be 7% of GDP for the next few years. Yet, they have already voted for a budget that increases the deficit, and many feel that passing this bill aligns with their earlier commitments.
The Senate will likely examine the bill closely, especially regarding the deficit and specific spending cuts. However, Conant insists that the bill will still reach the President’s desk, possibly even before the July 4 deadline.
As for the Medicaid cuts, which could lead to millions losing coverage, Democrats are expected to use this as a political weapon against Republicans. While these cuts may not take effect immediately, the political ramifications could be significant.
In summary, the fate of President Trump’s tax and spending bill now lies in the hands of the Senate. While there are valid concerns about the bill’s impact on the deficit and healthcare, the momentum from the House vote suggests that it will likely pass and be signed into law.