Overview

• The One Big Beautiful Bill would extend Trump’s first-term tax cuts and cut Medicaid, SNAP and other domestic programs, adding about $2.4 trillion to the national debt over the next decade.
• John Thune has organized small Senate Republican working groups to hash out spending reductions after House passage by a single vote.
• Senators Bill Cassidy and Jeff Merkley back a bipartisan plan to recoup up to $275 billion over ten years by targeting waste, fraud and abuse in Medicare Advantage.
• Fiscal hard-liners such as Rand Paul and Ron Johnson oppose the legislation, arguing it fails to rein in long-term debt and could strip health coverage from millions.
• With a 53-47 majority, Senate Republicans need near-unanimous support to meet Trump’s July 4 deadline, prompting calls for deeper deficit cuts and tweaks to renewable energy tax credits.