Particle.news
Download on the App Store
35 ARTICLES
·
last mo.

Senate GOP Advances Budget Blueprint with Tax Cuts and $5 Trillion Debt Ceiling Hike

The resolution includes minimal spending cuts, controversial accounting methods, and unresolved differences with the House as Republicans push to pass Trump's agenda.

Senate Majority Leader John Thune, R-S.D., joined by Sen. John Barrasso, R-Wyo., the GOP whip, left, talks to reporters at the Capitol, in Washington, Tuesday, April 1, 2025. (AP Photo/J. Scott Applewhite)
Senate Majority Leader Sen. John Thune, R-S.D., walks to the Senate chamber as the Senate works to avert a partial government shutdown ahead of the midnight deadline, at the Capitol in Washington, Friday, March 14, 2025. (AP Photo/Ben Curtis)
Senate Minority Leader Chuck Schumer, D-N.Y., is joined by Sen. Tim Kaine, D-Va., right, as they speak to reporters about President Donald Trump's so-called "Liberation Day" of tariffs on foreign countries, at the Capitol, in Washington, Wednesday, April 2, 2025. (AP Photo/J. Scott Applewhite)
Sen. John Thune speaks alongside Sen. Shelley Moore Capito speaks to reporters following the weekly Republican Senate policy luncheon at the US Capitol on April 1 in Washington, DC.

Overview

  • The Senate's budget resolution proposes $1.5 trillion in new tax cuts and makes Trump's 2017 tax cuts permanent, using a disputed accounting method to score them as costless.
  • The resolution raises the debt ceiling by $5 trillion, exceeding the $4 trillion increase proposed by the House, to avoid a default projected for late summer 2025.
  • Minimal spending cuts of $4 billion are outlined in the Senate resolution, contrasting sharply with the House's proposed $1.5 trillion in cuts, creating significant inter-chamber tensions.
  • The resolution sets aside $150 billion for defense and $175 billion for border security over the next decade, aligning with Trump's legislative priorities.
  • Republicans aim to pass the resolution through budget reconciliation to bypass the Senate filibuster, but criticism mounts over its potential deficit impact and Medicaid cut implications.