Overview

• The One Big Beautiful Bill would make permanent the 2017 tax cuts, eliminate taxes on tips and overtime and raise the SALT deduction cap to $40,000 at an estimated cost of $3.8 trillion over the next decade.
• Conservative senators including Rick Scott, Rand Paul and Ron Johnson warn the package could destabilize bond markets and are pressing for deeper spending offsets or full fiscal neutrality.
• Proposed Medicaid work requirements for able-bodied adults risk cutting coverage for about 7.6 million Americans, prompting moderate Republicans to push back over potential impacts on rural hospitals.
• Lawmakers such as Susan Collins, Lisa Murkowski and Jerry Moran are seeking to preserve or restore clean energy tax incentives to avoid disrupting renewable projects.
• President Trump has invited Senate amendments even as Speaker Mike Johnson cautions that extensive changes could imperil final approval and GOP leaders work to secure almost unanimous support in their 53-seat majority for a likely July 4 vote.