TaxBill

High drama is unfolding in the U.S. Senate as Trump’s massive $4.5 trillion tax-and-spending bill teeters on the edge of collapse. A small group of Republican senators could kill the legislation just days before the critical July 4th deadline.

🔹 Two GOP Senators Already Voted “No” – One More Could End It
The Senate’s Republican majority holds 53 seats. Trump’s bill can survive only three defectors. Right now, two are already gone: Thom Tillis and Rand Paul. Both opposed the motion to proceed with debate and show no sign of backing down.
“This isn’t what I signed up for,” Paul said, citing the bill’s size and the $5 trillion debt ceiling increase it includes.

🔹 Trump Attacks, But Rebels Aren’t Backing Down
Following the vote, Trump launched aggressive attacks on social media, singling out Tillis: “You talk and complain, BUT YOU DON’T ACT!” he wrote. But Tillis announced he won’t seek reelection, freeing him from Trump’s political pressure. He made it clear he’s likely to vote “no” again.

🔹 Moderates Want Revisions, Hardliners Push for Deeper Cuts
Senators Lisa Murkowski and Susan Collins are demanding significant changes. They oppose steep Medicaid cuts in the bill, which could leave 11.8 million Americans uninsured, according to the Congressional Budget Office.
They’re also pushing to slow down the rollback of tax incentives for clean energy projects, which they say have driven job growth in their states.
Meanwhile, hardline conservatives aren’t budging. Senator Ron Johnson proposed an amendment to accelerate Medicaid cuts, not delay them. He claims support from Rick Scott, Mike Lee, and Cynthia Lummis.

🔹 All Eyes on Sunday Night: Make-or-Break Vote Approaches
A pivotal vote is expected late Sunday or early Monday. If Thune can’t secure the needed support, the bill could die in the Senate before even reaching the House of Representatives, where it faces further opposition.

🔹 Resistance Grows in the House
Some House Republicans say the tax cuts go too far, while others argue the proposed $1.2 trillion in spending cuts aren’t enough. The bill includes extended 2017 tax breaks plus new incentives for tipped workers, hourly employees, seniors, and EV buyers.
The internal divide over these provisions is tearing the GOP apart.

🔹 Public Opinion Is Lukewarm at Best
A Pew Research poll shows that 49% of Americans oppose the bill, only 29% support it, and 21% are undecided. These numbers are unsettling for moderate lawmakers seeking reelection in 2026, especially in swing states.

💬 Summary: Hours Before Independence Day – Will the Bill Pass or Collapse in Chaos?
Senators are staying overnight on Capitol Hill. If Thune can strike a last-minute deal and hold his party together, the Senate could pass the bill by Monday. But even then, it must clear the House – where the resistance is stronger.
Trump, now back in the White House, is growing increasingly impatient. “No excuses,” he warned last week. “Deliver it on time.” Whether there will be anything left to deliver remains uncertain.

#TRUMP , #USPolitics , #USGovernment , #worldnews , #TaxBill

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🔥 The Breaking Point
On May 24, 2025, Donald Trump abruptly severed ties with Elon Musk after the Tesla CEO publicly torched Trump’s proposed 15% corporate tax hike, calling it “**economically illiterate**” in a Spaces interview. Musk’s rant accused Trump of “punishing innovators to fund swamp politics,” triggering an immediate fallout from Mar-a-Lago.
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🤝 From Allies to Adversaries
The Backstory:
- 2022–2024: Musk endorsed Trump’s 2024 campaign, hosted fundraisers, and backed his pro-crypto stance.
- Shared Goals: Both pushed for U.S. Bitcoin mining dominance and lighter crypto regulations.
- The Betrayal: Trump saw Musk’s tax criticism as a “stab in the back” amid tight election polls.
Trump’s Response:
> “Elon’s a genius but doesn’t understand Main Street. America First means corporations pay their fair share.”
> — Trump campaign statement, May 24
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📉 Market & Political Fallout
1. Crypto Uncertainty:
- Musk’s pro-Bitcoin tweets previously moved markets; his diminished Trump ties may weaken pro-crypto policy momentum.
- $BTC dipped 2.3% on news; Tesla ($TSLA) fell 1.8% pre-market.
2. 2024 Election Shakeup:
- Musk shifts support to Libertarian candidate Lars Mapstead, a crypto hardliner.
- Trump doubles down on “taxing elites” rhetoric to woo blue-collar voters.
3. X’s Future:
- Trump’s Truth Social to ban cross-posting from X (formerly Twitter), cutting Musk’s reach.
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💡 Why This Matters
- Policy Split: Trump’s tax plan targets corporations; Musk’s vision relies on tech subsidies.
- Crypto Divide: Both support crypto, but Trump’s alliance with anti-crypto senators (e.g., Warren) strains relations.
- Power Play: Musk’s net worth ($220B) vs. Trump’s political machine — a clash of influence titans.
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🚨 What’s Next?
- Musk’s Move: Hosting a “Tech Freedom Summit” in Austin (June 10) with crypto leaders.
- Trump’s Counter: Drafting executive orders to fast-track U.S. Bitcoin mining if elected.
- For Investors: Watch for regulatory uncertainty shaking crypto volatility.
> “In the battle of billionaires, portfolios become collateral damage.”
> — Wall Street Journal
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#TRUMP #ElonMusk #TaxBill #Crypto #Write2Earn
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