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'Swamp creation' or 'massive win'? Here's how the Senate changed 'big, beautiful bill'

Senate Approval of Budget Bill

- Senate Republicans approved an amended version of the House-passed "big, beautiful bill" after 27 hours of voting.

- The bill is now sent back to the House for final approval.

- Controversial changes may alienate House Republicans and disrupt Speaker Mike Johnson's earlier compromises.

- The bill's passage by July 4 is now uncertain.

Bill Overview

- The 940-page budget reconciliation bill implements much of President Trump’s agenda.

- Most of the House's national security funding, fossil fuel production policies, and student loan reforms remain intact.

- Several provisions of the bill have been modified significantly in the Senate.

Key Changes and Provisions

- The Senate adopted a new policy baseline for tax cuts that may reduce the bill's projected cost by 90%.

- Permanent tax cuts from the 2017 Tax Cuts and Jobs Act include:

- Increased standard deduction

- Qualified Business Income deduction

- Child tax credit reduced from $500 to $200.

- Senior deduction increased from $4,000 to $6,000.

- Capped deductions for tips ($25,000) and overtime ($12,500) for single filers.

- Permanent business tax credits introduced for:

- New capital investments

- Corporate interest deductions

- Research cost deductions.

House Concerns and Revisions

- The House is expected to revise Senate changes before resending the bill.

- House expected to stick to a 10-year tax cut extension with $1. 7 trillion in savings.

- Concerns raised about Medicaid reforms, SALT deduction cap, and SNAP funding have been modified in the Senate's plan.

Key Legislative Compromises

- The Senate proposed lowering the Medicaid tax cap from 6% to 3. 5% by 2030.

- The SALT deduction cap raised to $40,000 temporarily until 2030.

- Senate requires states to cover 75% of SNAP administrative costs from 2027.

- Expanded noncitizen eligibility for SNAP benefits.

Dissent from House Freedom Caucus

- House Freedom Caucus members express dissatisfaction with Senate changes.

- Criticism of the new policy baseline and the approach to renewable energy subsidies.

- Ogles emphasizes the need to stay in DC until the bill is right for the public.

- Self denounces the bill on social media as a “swamp creation. ” 

https://www.thecentersquare.com/national/article_6630b2f0-d501-49d5-b2ab-8359ef477eed.html

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