Overview
- The House passed the 'big, beautiful bill' with a razor-thin 215-214 vote, sending the $4 trillion tax cut and spending package to the Senate for consideration.
- The bill includes $1.5 trillion in spending cuts and tax relief aimed at boosting economic growth but could raise the deficit by $3.8 trillion over the next decade, according to the CBO.
- Senate Republicans, including fiscal hawks like Ron Johnson and Rand Paul, have expressed concerns about the bill's impact on the deficit and Medicaid reforms.
- Speaker Mike Johnson and former Speaker Newt Gingrich are urging Senate Republicans to make minimal changes to the bill to ensure its passage by July 4.
- RNC Chairman Michael Whatley highlighted the bill's significance for the GOP's 2026 midterm prospects, emphasizing party unity and economic growth as key factors.