Overview

• The Senate Finance Committee’s text makes the 2017 corporate tax cuts permanent, phases out green energy credits more slowly than the House version and sets a $10,000 SALT cap as a placeholder
• It deepens Medicaid reductions by tightening eligibility, imposing work requirements on parents of older children and capping provider taxes at 3.5%
• The package raises the debt ceiling by $5 trillion—exceeding the House’s $4 trillion increase—and has drawn opposition from Sen. Rand Paul
• House Republicans from high-tax states warn they will vote down the bill if the SALT cap falls below $40,000, while Senate leaders call the lower figure a negotiation marker
• Key GOP senators including Susan Collins, Lisa Murkowski and Josh Hawley have voiced concerns over the Medicaid cuts ahead of a conference aimed at finalizing the bill by July 4