The Republican-led US Senate has just passed President Donald Trump's major bill to prioritize tax and spending policies, with a 51-50 vote thanks to the deciding vote of Vice President JD Vance.
MAIN CONTENT
The US Senate passed President Trump's flagship tax and spending bill, passing it by a 51-50 vote.
The bill raises the debt ceiling by $5 trillion, expands health care aid and invests in border security.
The Senate proposes eliminating production-based taxes on wind and solar projects to promote sustainable development.
How did President Trump's bill pass the US Senate?
The bill, also known as the “big beautiful bill,” passed the U.S. Senate 51-50, with Vice President JD Vance breaking the deadlock. The multi-day vote and continuous debate concluded on the evening of July 1, 2025.
US Senate Majority Leader John Thune emphasized:
“With this bill, we are fulfilling the mandate given to us by our November election to move our country and the American people toward a safer, stronger, and more prosperous future.”
John Thune, U.S. Senate Majority Leader, July 1, 2025
The bill will return to the House of Representatives for final approval after the House passed its version last month.
How does the bill impact the budget and the Medicaid health program?
According to an analysis by the Congressional Budget Office (CBO), the bill is expected to increase the national debt by about $3.3 trillion over the next 10 years, although the White House counters that it will reduce the overall deficit by more than $5 trillion thanks to economic growth.
Key Points CBO Estimates White House Opinion Increase national debt by $3.3 trillion over 10 years Reduce deficit by more than $5 trillion with growth Rural Health Assistance Fund $50 billion over 5 years To protect and maintain rural hospitals Tax cuts for the wealthy No significant changes Rejected by majority of Democrats
The bill changes Medicaid rules, adds work requirements and reduces the sales tax from 6% to 3.5%, which is expected to cause nearly 12 million people to lose coverage over the next decade. The three Republican senators who opposed it were Rand Paul, Susan Collins and Thom Tillis.
The Rural Health Fund will be increased to $50 billion to ensure that many hospitals in the region do not go bankrupt. The program will be implemented from 2026 for a period of five years.
What tax adjustments does the Senate have for clean energy?
A tax break for wind and solar projects was included in the bill to boost the green energy industry. The Senate unanimously eliminated the tax, along with a mechanism to extend tax credits for projects that begin construction within a year of the bill’s enactment.
“The Senate aims to support renewable energy projects by eliminating taxes and extending tax credits, facilitating sustainable development.”
Walter Bloomberg, Financial Journalist, 7/1/2025
The project must be completed and operational by the end of 2027 to qualify for tax credits under the Inflation Reduction Act. Additionally, the bill adjusts regulations on sourcing from foreign entities to avoid security risks.
How will the bill be received and implemented in the House of Commons?
House Speaker Mike Johnson called members back from recess for a final vote scheduled for July 2, 2025. He pledged to speed up the process to get the bill passed in time for the July 4 Independence Day holiday.
Democratic amendments to boost Medicaid or ease tax breaks for the wealthy were both rejected during Senate debate.
What are the main impacts and concerns of this bill?
Although the bill has broad support, many are concerned about its potential to increase the budget deficit and negatively impact health insurance coverage due to changes to Medicaid.
Raising the debt ceiling by $5 trillion is seen as a temporary solution to avoid the risk of default, while providing about $175 billion for border security and $150 billion for defense, meeting the government's strategic priorities.
Frequently Asked Questions
What is the “big beautiful bill”? It is a major tax and spending bill proposed by Republicans and supported by President Trump, which prioritizes key fiscal policies from 2025–2035. How does the bill affect the national debt? According to the Congressional Budget Office, the bill could increase the debt by $3.3 trillion over the next 10 years, although the White House has given a more optimistic forecast. What changes does the Senate make to clean energy policy? The Senate eliminates taxes on wind and solar projects and extends tax credits to spur project development. What changes are made to the Rural Health Assistance Fund? The fund is doubled to $50 billion, to help rural hospitals avoid closures and ensure health care for people in remote areas. When is the House expected to pass the bill? The House of Representatives was urgently convened to vote on July 2, 2025, to complete the procedure before US Independence Day on July 4.
Source: https://tintucbitcoin.com/thuong-vien-my-duyet-du-luat-trump-ung-ho/
Thank you for reading this article!
Please Like, Comment and Follow TinTucBitcoin to stay updated with the latest news about the cryptocurrency market and not miss any important information!