00:00The Senate narrowly passed President Trump's One Big Beautiful Bill Act, sending it to the
00:04House for approval before it can land on the President's desk to get his signature.
00:09Getting this thing through the Senate proved to be very difficult.
00:11The Senate, of course, has much more arcane and difficult rules to navigate than the House
00:18does, and Republicans were only able to get it through in a 50-50 vote with Vice President
00:24J.D. Vance serving as the tiebreaker.
00:26Senator Lisa Murkowski from Alaska proved to be the swing vote that managed to get this
00:33thing over the finish line, and after the votes concluded, she basically indicated she wasn't
00:38really happy with the final product and suggested that the House should make revisions and send
00:43it back to the Senate.
00:44She was hopeful that the House would do that, and it seems like GOP leadership in the House
00:48is really keen on not doing that.
00:50They want to try to get this thing through the House, as is, if they can, and then send
00:56it to President Trump's desk in order to get this done as quickly as possible.
01:00If the House makes modifications to it, it's going to have to go back through the Senate,
01:04and it could involve a process known as a conference committee in which the two chambers send negotiators
01:10to iron out differences.
01:12That would take some time, and Republicans were hoping to get this to President Trump by the
01:174th of July.
01:18That was their self-imposed deadline.
01:20Additionally, if it drags out, they might have a lot less leverage and pressure that
01:26they could exert on members to get on board with this because, of course, members are kind
01:31of having to make a significant amount of concessions here.
01:33Of course, there's a really delicate balance between the fiscal hawks and the moderates.
01:37The fiscal hawks, particularly in the House side, are really upset about the increased
01:42deficit spending.
01:43In the Senate version, there's some projections that are saying that this could add as much
01:48as $3.9 trillion to the national deficit over the next 10 years, whereas the House's
01:52version was projected to add about $3 trillion over the same time frame.
01:57So there are fiscal hawks concerned about that.
01:59And then you have the moderates in the House side that were really uneasy about the Medicaid
02:04reforms made in the Senate version of the big, beautiful bill.
02:08The Senate had basically cut into Medicaid a bit more deeply than had been done in the
02:14original House version.
02:15And remember, House lawmakers have re-elections coming up next year, whereas there are a lot
02:21of senators that just aren't up for re-election next year because they're on a six-year term.
02:26So the Senate got this thing through.
02:28That was really one of the hardest challenges.
02:30Now it goes back to the House, where GOP leadership is hoping to leverage the 4th of July
02:35holiday to get this across the finish line, and President Trump is eager to sign us into
02:39law.
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