The U.S. Senate is continuing to discuss President Donald Trump's important $2.1 trillion bill, with much controversy surrounding cuts and economic benefits ahead of the July 4th approval deadline.
MAIN CONTENT
The Senate has not yet passed President Trump's major bill with a 51-49 vote last week.
The bill includes tax cuts, increased spending for the military and border security, as well as cuts to healthcare and food assistance programs.
The final outcome will depend on subsequent voting sessions and the approval of the House.
What happened in the Senate?
The U.S. Senate, with a majority of 52 Republicans and 48 Democrats, has not yet passed President Donald Trump's key bill. Previously, this bill passed several crucial votes with a narrow margin of 51-49, but faced strong opposition from Republican senators concerned about cuts to Medicaid and nutrition programs, along with the entire Democratic party not supporting it in the recent discussion.
Senator John Thune, Senate Majority Leader, stated that the parties are getting close to a final vote after negotiating further amendments. This vote is expected to take place before Independence Day on July 4th.
"We are getting very close to the final vote, but further discussions are still needed to finalize the terms."
John Thune, Senate Majority Leader, July 2, 2024
Why does President Trump want the bill passed before July 4th?
This $2.1 trillion bill is central to Trump's second-term agenda, including significant tax cuts, increased funding for border security and the military, as well as cuts to social programs like Medicaid and food stamps. Supporters, mainly from the Republican party, believe the bill will create jobs, strengthen national defense, and improve personal income for citizens.
In contrast, the Democrats warn that the bill will increase public debt by $3.3 trillion over the next 10 years, prioritizing tax cuts for high-income families and harming important social programs.
"This is the most beautiful bill ever written, and I want it to become law before July 4th as it represents the great future of the United States."
Donald Trump, President of the United States, June 2024
What will happen next?
If the Senate passes the bill, it will be sent back to the House of Representatives for a final vote due to changes from the original version. The bill can only be sent to the President for signature once both chambers agree on the final content.
Frequently Asked Questions
1. What are the main contents of President Trump's bill?
The $2.1 trillion bill focuses on tax cuts, increased spending for security and the military, as well as cuts to the budgets of Medicaid and food assistance programs.
2. Why do some Republican senators oppose this bill?
Two Republican senators expressed concerns about cuts to healthcare and nutrition programs that serve many low-income and elderly individuals.
3. What is the deadline for passing the bill?
The vote is expected to take place before July 4th to commemorate Independence Day and ensure the provisions take effect within the current fiscal year.
4. If the bill is passed, how will it affect the budget deficit?
The bill will increase the budget deficit by $3.3 trillion over the next 10 years according to estimates from financial experts.
5. What is the process for approving the bill after the Senate?
The bill needs to be passed by the House of Representatives after the Senate makes amendments before it can be signed into law by the President.
Source: https://tintucbitcoin.com/dao-luat-tien-dien-tu-trump-chua-duyet/
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