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  • 6/30/2025
Senate Republicans narrowly advanced Trump’s tax and spending bill, dubbed the “One Big Beautiful Bill Act,” by a 51-49 vote, according to the AP. The Senate advanced the bill after a chaotic night of stalled voting, tense negotiations, and a potential tie-breaking role from Vice President JD Vance. The weekend session may determine the fate of Trump’s party, which has heavily invested in passing his signature domestic policy plan. The legislation aims to lock in Trump-era tax breaks, add new ones, such as a tip tax exemption, and allocate $350 billion to national security and deportation efforts. Proposed cuts to Medicaid, food aid, and green energy are drawing criticism from Democrats and causing divisions within the GOP. Party leaders hope to offset lost tax revenue with spending cuts, but some oppose the Medicaid reductions, while conservatives push for even deeper cuts due to concerns about debt.

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00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Senate Republicans narrowly advanced Trump's tax and spending bill, dubbed the One Big Beautiful
00:09Bill Act, by a 51 to 49 vote, according to the AP. The Senate advanced the bill after a chaotic
00:18night of stalled voting, tense negotiations, and a potential tie-breaking role from Vice
00:24President J.D. Vance. The weekend session may determine the fate of Trump's party, which
00:31has heavily invested in passing his signature domestic policy plan. The legislation aims
00:37to lock in Trump-era tax breaks, add new ones such as tip tax exemption, and allocate $350
00:46billion to national security and deportation efforts. Proposed cuts to Medicaid, food aid,
00:54and green energy are drawing criticism from Democrats and causing divisions with the
00:59GOP. Party leaders hope to offset lost tax revenue with spending cuts, but some oppose the Medicaid
01:07reductions, while conservatives push for even deeper cuts due to concerns about debt.
01:13For all things money, visit Benzinga.com.

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