Overview

• The Senate Finance Committee released its section of the bill on June 16 covering tax policy, Medicaid and energy measures
• The draft makes President Trump’s 2017 Tax Cuts and Jobs Act permanent and raises the SALT deduction cap to $40,000
• It proposes deep Medicaid cuts, stricter work requirements and adjustments to provider payments to reduce federal spending
• The legislation targets ‘Green New Deal’ spending by rolling back renewable energy tax credits deemed wasteful
• Senate Republicans insist on adding their own amendments despite House Speaker Mike Johnson’s plea to minimize changes