WASHINGTON (AP) — The Senate is finally taking action on President Donald Trump's tax breaks and spending cuts plan, amid economic uncertainty at the national and global level. Senate Republicans voted to start drafting their version of the legislation after House Republicans unveiled their framework a month earlier.
The 52-48 vote paves the way for Senate sessions that are expected to run late into the night through Friday and the weekend. However, the development of the trillion-dollar package coincides with volatile markets following Trump's tariff implementations, adding complexity to the political and procedural challenges.
Senate Majority Leader John Thune expressed eagerness to commence work on what could become the Republicans' signature domestic policy initiative. Trump has voiced support for the plan, and the Republican-controlled Congress aims to demonstrate progress in fulfilling their campaign commitments. Nonetheless, the journey towards a final legislation is anticipated to be lengthy.
Despite lacking the votes to block the GOP proposal, Democrats plan to utilize procedural methods to extend the process. They critique the Republicans for prioritizing tax cuts for the wealthy over essential programs that many Americans rely on for essential services.
Reflecting on the Republicans, Senate Democratic Leader Chuck Schumer criticized their approach as heartless and inconsiderate. Senate Democrats are gearing up for discussions on potential cuts to Medicaid, veterans programs, and the consequences of Trump's tariffs.
The Senate bill centers on extending Trump's expiring first-term tax cuts and making them a permanent aspect of the tax system. Additionally, considerations will be made for including Trump's proposed tax reductions on tipped wages, Social Security income, and other areas.
The package also includes increased funding for border security and national defense in alignment with Trump's agenda, after an earlier version introduced by Senate Republicans faced criticism from their House counterparts.