Overview

• After a 51–50 Senate approval on June 30, the revised bill returned to the House where Republicans hold just a three-vote majority for the decisive vote
• The legislation combines $4 trillion in permanent tax cuts for high earners and corporations with $1 trillion in cuts to Medicaid, SNAP and renewable energy incentives
• The Congressional Budget Office projects the package will add $3.3 trillion to federal debt over ten years, drawing objections from fiscal conservatives and critics like Elon Musk
• President Trump has summoned House Republicans to the White House and publicly warned of repercussions for those who oppose the measure
• A pivotal bloc of conservative members, including the Freedom Caucus, remains undecided and could determine the bill’s fate before the July 4 deadline