Senate Republicans have progressed in implementing President Donald Trump's tax cut plans and raising the US debt ceiling, which could bring some stability to financial markets affected by the president's tariff policies. The Senate passed the budget resolution with a 51-48 vote after a series of votes on amendments. The resolution allows Republicans to create legislation to extend Trump's 2017 tax cuts, along with introducing $1.5 trillion in new tax cuts over a decade and increasing the federal borrowing limit by $5 trillion. While the economy faces uncertainty due to global tariff implications, Republicans believe that these tax cuts will positively impact the markets and business investments. Renewing Trump's expiring tax cuts is seen as vital to prevent a tax increase on American households. The budget also allocates funds for the military, immigration efforts, and tax benefits for higher-income households, prompting criticism from Democrats who argue that lower and middle-class individuals will bear the brunt of tariff-related price increases.