Lagos Startup Week turns 10: Celebrating a decade of Africa-led innovation
Fast forward to 2025: Lagos is not just participating in the global startup narrative, it's shaping it. From Dealroom to Partech, Lagos is consistently ranked among Africa's most active startup cities, attracting founders, VCs, and global tech operators.
Born in 2015 under the vision of Prime Startups, Lagos Startup Week was launched to spark a movement: one that would not just showcase startups, but shape the very future of innovation across Africa. That vision has now become a reality.
In 2025, as LSW celebrates its 10th edition, Lagos has earned its place on the global tech map. According to Dealroom.co and Partech reports, Lagos is now one of the most active startup ecosystems on the continent, with Nigerian startups attracting over $3.5 billion in venture capital funding, launching globally relevant startups , and fostering a new wave of digital pioneers redefining what's possible ahead of Istanbul, Turkey and Pune, India. having created five unicorns and grown its ecosystem valuation 11.6x since 2017 despite having a smaller economy,' the report stated. According to the report, Lagos is home to five unicorns, comprising Interswitch, Flutterwave, Jumia, OPay, and Moniepoint, which makes the state stand out and the major acquisition of Paystack by Stripe for over $200 million.
The event organisers have curated a range of activities for over 5,000 attendees. Participants will have the opportunity to learn from tech experts and business leaders, gain valuable advice on scaling or starting a business, and network with high-profile entrepreneurs,regulators and investors. Lagos Startup Week is undeniably the destination for anyone seeking to forge connections within the global tech industry.
'This is more than an event. This is where Africa's future gets prototyped,' says Olumide Olayinka, Partner, Prime Startups and Convener of Lagos Startup Week. What began as a grassroots gathering has evolved into one of the continent's most consequential platforms for innovation, venture, and ecosystem development.
The 10th edition of Lagos Startup Week marks more than a milestone; it signals a new era. Under the bold theme 'DND – Disrupting the Next Decade,' LSW 2025 will examine what it takes to build in complex markets, elevate African-led innovation on the global stage, and define the next 10 years of entrepreneurial impact.
From resilience to radical thinking, this year's event will spotlight founders who are not just building products but rewriting narratives.
LSW is proudly powered by Prime Startups, an ecosystem builder supporting African founders beyond the event stage. Through year-round founder support, cross-border ecosystem partnerships, and policy engagement, Prime Startups is helping to lay the foundation for Africa's next wave of high-growth ventures.
According to Olumide Olayinka, Co-organiser and Partner at Prime Startups. ' Lagos Startup Week was never just an event; it was always a declaration. Olumide said that 'the city needed a platform where founders could breathe, build, and belong. Ten years later, we are still doing that at scale, and with global attention.'
THE LSW EXPERIENCE– 2025 AGENDA HIGHLIGHTS
📅 Dates: July 7–12, 2025
📍 Venue: Civic Centre, Lagos, Nigeria
🌍 Theme: DND – Disrupting the Next Decade
To accommodate the expanding scope of this landmark edition, the event will span seven floors of the iconic Civic Centre for three unforgettable days. This year's edition promises to be even more spectacular, featuring 4 stages and Demo Days, all designed to showcase the visionary technology that will shape our collective future.
Expect:
Previous editions have welcomed visionaries such as:
WHY THIS MATTERS
In an era of global realignment and digital acceleration, Lagos Startup Week is more than a timestamp. It's a bellwether for how emerging markets will define the future of commerce, connectivity, and capital. It's where Africa builds and the world watches.
Join us in Lagos this July. The future isn't coming. It's being built here.
Watch 2024 recap:
Whether you're an aspiring entrepreneur, a seasoned industry leader, or an enthusiast looking to stay ahead of the curve, Lagos Startup Week is the ultimate destination to witness the cutting edge of innovation. See you there!
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USA Today
9 hours ago
- USA Today
Trump agenda survives key Senate vote but final outcome still uncertain
The GOP-led Senate has agreed to begin a marathon floor debate that's expected to go overnight and culminate with a final roll call - where the outcome still remains uncertain. WASHINGTON – The Senate voted to begin a marathon debate about President Donald Trump's package of legislative priorities − stuffed with tax cuts, Medicaid reforms and border security funding – despite lingering Republican concerns about the legislation. Majority Leader John Thune, R-South Dakota, has said he is uncertain whether enough Republicans will support their version to send it back to the House. "We'll find out," Thune said. But the 51-49 vote to proceed signals that there is enough GOP support to at least begin the hours-long debate and expected voting on dozens of amendments. GOP Sens. Rand Paul of Kentucky and Thom Tillis of North Carolina each voted against debating the bill as written. The vote that began at 7:30 p.m. EDT was held open for more than three hours as Thune scrambled to find a majority of votes to kickstart the debate. If the Senate is ultimately successful, the House would have to vote on the upper chamber's changes in order to reach Trump's desk by his self-imposed deadline of July 4. The Senate has trimmed the House version from about 1,100 pages to 940 − and still faces votes on what are expected to be dozens of amendments. The success of Trump's domestic agenda for tax cuts and border security hangs in the balance. Republican approval of the spending blueprint would allow a majority of the 100-member Senate to approve all of Trump's priorities included in it through legislation later in the year, rather than needing 60 votes to overcome a filibuster for each measure. Here's what we know about the legislative package: Senate voting on whether to debate Trump's bill A long wait, then a vote to begin debate With little fanfare, the Senate began voting at about 7:30 p.m. EDT on whether to begin the debate on Trump's legislative package. Majority Leader John Thune, R-South Dakota, simply asked the Senate to vote on a motion to begin debating the bill. The move came after hours of inaction – interrupted by the occasional speech – since the Senate gaveled into action at 2 p.m. - Bart Jansen Nevada senator votes despite COVID-19 The vote was close enough and important enough that a Nevada senator voted despite testing positive for COVID-19. 'After experiencing mild symptoms, I have tested positive for COVID,' Sen. Catherine Cortez Masto, D-Nevada, said in a social media post. 'I'll continue to follow my doctor's guidelines and wear a mask while voting this weekend.'- Bart Jansen Lee drops provision for public land sales from bill Sen. Mike Lee, R-Utah, agreed to drop a contentious provision for public land sales from the legislative package. Environmental groups had criticized the provision for opening lands to logging and oil, gas and coal production. A fellow Republican, Sen. Tim Sheehy of Montana, threatened to vote against the bill unless the provision was removed, which could have scuttled the entire bill. Lee announced on social media that he wasn't able to secure safeguards that the land must be sold to Americans rather than the Chinese or investors. 'I continue to believe the federal government owns far too much land – land it is mismanaging and in many cases ruining for the next generation,' Lee said. - Bart Jansen Trump blasts Tillis over opposition to legislation Trump criticized Sen. Thom Tillis of North Carolina, one of three Republicans to vote against debating the legislation, as 'making a BIG MISTAKE.' Tillis had voiced concern about steeper Medicaid cuts in the Senate version of the bill than in the House version, and said he would have to oppose it. But Trump noted he won the state in three presidential elections in the Tarheel State, where Tillis faces reelection next year. Trump highlighted provisions in the legislation to eliminate taxes on tips, overtime and Social Security. He argued taxes will rise if 2017 tax cuts aren't extended, and that the country needs to increase the limit on borrowing. 'Thom Tillis is making a BIG MISTAKE for America, and the Wonderful People of North Carolina!' Trump said in a post June 28 on social media. In another post, Trump said he would be meeting with 'numerous people' who have asked to run in the GOP primary against Tillis. Trump said he is 'looking for someone who will properly represent the Great people of North Carolina.' - Bart Jansen Democrats force Senate to read entire Trump bill Minority Leader Chuck Schumer, D-New York, forced Senate clerks to read the entire bill out loud, further delaying the start of debate on the bill. While typically a formality, Schumer objected to waiving the reading of the bill. His objection forced clerks to read the 940-page document. Then senators will begin hours of debate followed by hours of voting. A vote on final passage could come June 30. - Bart Jansen 'No cause for alarm' on vote delay: Sen. Mike Rounds South Dakota GOP Sen. Mike Rounds told CNN that he thinks Republicans will ultimately have the votes to begin the floor debate but were working on ensuring commitments for concerned GOP lawmakers that they'll get the chance to offer amendments to address their issues. "No cause for alarm," Rounds said, adding that the lengthy delay from the plan to have a 4 p.m. EDT opening procedural vote stemmed from the wait for the Congressional Budget Office to analyze late changes to the Senate bill. Looking ahead, Rounds outlined a floor plan that would start with Democrats forcing a full reading of the 990-page bill, something the Republican said he hoped they would not do so that congressional staff can go home for the night and get rest before resuming debate on June 29. Once the floor debate begins, Rounds said Democrats and Republicans would get 20 hours equally divided - with the GOP likely surrendering a considerable amount of that time. Only then would the Senate begin to hold what's known as a "vote-a-rama" where they consider scores of amendments."We've got a long couple of days ahead of us yet," Rounds said. - Darren Samuelsohn Business Roundtable endorses Trump bill Business groups endorsed Trump's legislative package for its anticipated economic benefits as the Senate prepared to debate it. 'This critical legislation would protect and enhance the transformative economic benefits that President Trump's historic 2017 tax reform delivered for American businesses, workers and families,' Business Roundtable President Kristen Silverberg said. 'We urge the Senate to swiftly pass this measure.' - Bart Jansen Democrats to force reading aloud of the entire Senate bill Senate Democrats unified in opposition to the legislation plan to force the chamber's clerk to read the entire 990-page GOP tax, policy and spending bill aloud if Republicans vote to open the floor debate. "Future generations will be saddled with trillions in debt," said Senate Minority Leader Chuck Schumer, D-New York. "Under this draft Republicans will take food away from hungry kids to pay for tax breaks to the rich." Schumer's plans mean that the Senate is sure to be in session late into the night, if not past dawn - presuming Republicans vote to begin the debate. - Darren Samuelsohn, Reuters Elon Musk opens fire, calls Trump bill 'utterly insane and destructive' Billionaire Elon Musk, Trump's former adviser on cutting government spending, fired off another set of attacks against the president's legislative package for potentially killing millions of jobs. The latest Senate draft bill will destroy millions of jobs in America and cause immense strategic harm to our country!Utterly insane and destructive. It gives handouts to industries of the past while severely damaging industries of the future. Musk had quieted his harsh criticism of Trump and the legislation the week after his departure from government May 30. But he blasted the bill again as the Senate prepared to debate it. 'The latest Senate draft bill will destroy millions of jobs in America and cause immense strategic harm to our country!' Musk said June 28 on social media. 'Utterly insane and destructive. It gives handouts to industries of the past while severely damaging industries of the future.' As the Senate vote remained in limbo, Musk added another post warning the GOP of the electoral risks if they vote for the Trump-backed legislation that is not polling well with Republicans. Polls show that this bill is political suicide for the Republican Party - Bart Jansen Paging Vice President JD Vance: The Senate might need a tie-breaker Coming out of a GOP lunch June 28, Sen. Josh Hawley, R-Missouri, said he's 'under the impression' Senate leadership has the buy-in to advance Trump's bill. But, 'I'm thinking we need the VP,' he said. Republicans need a simple 51-vote majority to pass the bill. But with a tight 53-member majority and ongoing disputes, every swing vote counts. If they hit 50, Vice President JD Vance, in his capacity as Senate president, can break the tie in Trump's favor. -Savannah Kuchar Environmental groups criticize bill's support for fossil fuels Environmental advocates criticized the Senate version of Trump's legislative priorities for not just ending incentives for renewable energy but setting taxes on wind and solar power generation. The advocacy group Natural Resources Defense Council estimated taxes on some projects could grow 50%. The bill could also trigger the largest sale of public lands in history for logging and oil, gas and coal production, according to the group. Trump campaigned on boosting domestic energy production with the phrase 'drill, baby, drill.' "The new budget reconciliation bill text is a shocking fossil fuels industry fever dream come to life,' said Christy Goldfuss, the council's executive director. 'The bill has gone from fossil fuels boosterism to an active effort from Congress to kill wind and solar energy in the United States.' - Bart Jansen GOP senators join Trump for golf President Donald Trump had no public events on his calendar, but he had a couple of key allies join him for golf at his Northern Virginia course: CIA Director John Ratcliffe and Republican Sens. Eric Schmitt of Missouri, Rand Paul of Kentucky and Lindsey Graham of South Carolina. Looking forward to beginning the One Big Beautiful Bill the day with @POTUS and thanked him for his Go! After posting a picture with Trump on the golf course, Graham added that he partnered with Trump and Paul to beat Schmitt and Ratcliffe. "Proud to announce no casualties," Graham wrote. "A lot of fun! Big Beautiful Bill on the way.". - Bart Jansen Saying 'no' and voting 'no' two different things: Sen. Markwayne Mullin Sen. Markwayne Mullin, R-Oklahoma, a supporter of Trump's legislative package, told reporters at the Capitol that lawmakers warning about voting against it and actually voting 'no' are two different things. Sens. Ron Johnson, R-Wisconsin; Thom Tillis, R-North Carolina; and Rand Paul, R-Kentucky, have each said they were opposed to the bill that is still changing. Sens. Susan Collins, R-Maine, and Lisa Murkowski, R-Alaska, have voiced concerns about it. 'Everybody's got concerns, but saying you're voting 'no' and when you get to the floor and voting 'no' is two totally different things,' Mullin said. 'I don't believe in losing and we're going to get the votes.' - Bart Jansen Budget blueprint debate could be 30 hours of 'nonsense': Sen. Brian Moreno Sen. Bernie Moreno, R-Ohio, a supporter of Trump's legislative package, said a final vote would likely come after 30 hours of 'nonsense' from Democrats voting on proposals to change the contentious bill. 'It's an absolutely historic and transformative piece of legislation that reverses four years of an assault on American workers,' Moreno said. 'I want everybody watching this to remember this as you listen to probably what's going to be 30-plus hours of complete nonsense from the other side.' - Bart Jansen Senate meets before debating Trump legislative package The Senate gaveled in at 2 p.m., in anticipation of beginning debate on President Trump's legislative priorities, but lawmakers haven't yet voted to begin talking about the measure. A majority of senators must agree to begin debate, which can sometimes kill legislation before it begins. With 53 Republicans and 47 Democratic caucus members, just a few GOP lawmakers could prevent a debate. But the hurdle appears a mere technicality because wavering GOP members such as Sen. Susan Collins of Maine have said she would support the debate even if not necessarily the final bill. -Bart Jansen Sen. Josh Hawley says Republicans have 'soul searching' to do Sen. Josh Hawley, R-Missouri, had been one of the leading voices among Senate Republicans raising concerns about proposed cuts to Medicaid and how that would impact his largely rural state. But after studying the latest, finalized bill text — which delays pushing costs onto states and establishes a $25 billion rural hospital fund — Hawley said he's a yes on passing the bill. Beyond this weekend's vote, though, Hawley said he intends to keep pushing back in effort to prevent the delayed federal spending cuts from ever going into effect. 'This has been an unhappy episode, here in Congress, this effort to cut to Medicaid,' he said. 'And I think, frankly, my party needs to do some soul searching.' — Savannah Kuchar Sen. Susan Collins remains a wildcard Sen. Susan Collins, R-Maine, said she'll support Senate leadership bringing the mega bill to the floor and kicking off presumably hours of debate. But she cautioned reporters that she remains uncertain how she'll side when a final vote gets called. 'That does not, in any way, predict how I'm going to vote on the final passage,' Collins told reporters while walking into the Capitol for the start of the day's events. Collins said her final vote ultimately will depend on what the bill looks like after lawmakers — including herself — introduce and potentially tack on further amendments. 'There's some very good changes that have been made in the latest version, but I want to see further changes,' Collins said. - Savannah Kuchar What is in the Senate bill? The largest provisions in the legislation would extend expiring tax cuts and create a few new ones, and a dramatic increasing in spending on border security. Sen. Rand Paul of Kentucky, a Republican holdout on the bill, said he wouldn't vote for the bill unless the debt limit gets a separate vote. But Republican leaders want to keep the unpopular vote within the overall package. −Bart Jansen What's not in the Senate version of the bill? Republican support in the Senate waned after Parliamentarian Elizabeth MacDonough ruled several significant provisions would have to be removed to avoid a filibuster. Republicans removed provisions to curb environmental regulations; restrict federal judges' powers; bulk up immigration enforcement; and cut funding from a consumer protection agency. MacDonough also ruled against provisions that aimed to reduce Medicaid spending on health care programs for undocumented immigrants. −Bart Jansen What does Trump say about the Senate version of the bill? The Trump administration 'strongly supports' the Senate version of the bill, in a White House Office of Management and Budget statement June 28. The statement isn't intended to favor the Senate version over the House version on any particular provision, but to signal Trump would sign it if approved by Congress. The two-page statement highlighted provisions for tax cuts, border security, energy and defense. 'President Trump is committed to keeping his promises, and failure to pass this bill would be the ultimate betrayal," the statement said. −Bart Jansen Is there really a July 4 deadline? Trump has told congressional Republicans he's want this thing wrapped up by Independence Day. But the due date is less procedural than it is political. The sooner the president can tout legislation that makes good on several of his 2024 campaign promises, including a tax limit on tips and overtime wages, plus extends his 2017 tax cuts for high-income earners, the better. The more impending deadlines are sometime in August, when Treasury Secretary Scott Bessent has said the federal government is at risk of hitting its debt ceiling, and the end of the year, when Trump's first-term tax cuts are set to expire. The legislation up for a vote in the Senate currently contains a provision to raise the debt limit.− Savannah Kuchar
Business Insider
13 hours ago
- Business Insider
"We can turn Africa into a 'heaven' in the next five years" — Dangote
Africa's richest man, Aliko Dangote, has urged Africans to adopt bold thinking and a long-term mindset, asserting that the continent could be transformed into a 'heaven' within just five years. Aliko Dangote, Africa's richest man, advocates for bold thinking and long-term vision to transform the continent within five years. Dangote emphasized that Africans must believe in their potential to make the continent productive and growth-focused. He has spearheaded major investments, including the $20 billion Dangote Refinery in Lagos, the world's largest single-train oil refinery. Africa's richest man, Aliko Dangote, has urged Africans to adopt bold thinking and a long-term mindset, asserting that the continent could be transformed into a 'heaven' within just five years. He made the remarks on Friday while speaking at the 32nd Annual Meeting of the African Export-Import Bank (Afreximbank). 'We can actually turn Africa into a heaven in the next five years. It doesn't take time. Like I keep saying: You need to think big, and then you grow big,' Dangote stated. 'We African champions should know that we are the only people who can make Africa great. Nobody will do that for us. So, as such, we need to make sure that we concentrate. We believe in our own continent. The job of people like us is not about amassing wealth. It's about creating wealth," he said. Africa's foremost industrialist has long championed investments in the continent's development. His commitment recently drew praise from the Nigerian government for prioritizing national advancement over the allure of tech windfalls. Rather than betting on global giants like Amazon, Microsoft, or Google, investments that could have boosted his net worth to $120 billion, Dangote chose instead to build the world's largest single-train oil refinery in Lagos. Reshaping Africa's energy future Valued at $20 billion, the Dangote Refinery is now Africa's biggest and a transformative force in the region's energy sector. Although delayed for several years, the refinery officially began production of diesel, naphtha, and jet fuel in January last year, followed by petrol production in September. The massive facility surpasses the capacity of Europe's 10 largest refineries. According to the Organisation of the Petroleum Exporting Countries (OPEC), Dangote's oil push in Nigeria is already starting to disrupt the European oil market. Economists suggest that the Dangote refinery could potentially end the long-standing gasoline trade from Europe to Africa, which is valued at $17 billion annually. Earlier this year, Aliko Dangote projected that his conglomerate is on track to generate $30 billion in total revenue next year, despite growing concerns among global businesses about the potential impact of U.S. President Donald Trump's trade tariffs.
USA Today
20 hours ago
- USA Today
Medicaid cuts, no taxes on tips and overtime: What's in the Trump-backed Senate megabill?
Big changes are ahead for Americans if the Trump-backed bill becomes law. Republicans are trying to pass it by a self-imposed July 4 deadline. WASHINGTON − High-income earners, waiters and waitresses could soon see greater tax breaks locked in under a bill backed by President Donald Trump that's on track for votes this weekend in the Republican-led Senate. People who rely on Medicaid access and funds for federal food aid would come out on the short end of the stick under the plan, too. There's plenty more that could affect the lives of everyday Americans inside the Senate's latest 940-page version of the Trump-backed megabill that emerged near midnight and which Republicans are scrambling to turn into law ahead of a self-imposed July 4 deadline. It's still unclear if the GOP will have enough votes when the debate begins around 2 p.m. EDT on June 28 on the president's biggest second-term priority for the Republican-led Congress. Supporters are emphasizing the chief engine of the Senate's proposal - extending Trump's 2017 tax cuts - and significant boosts to military and border security spending. They are also proceeding despite needing to remove sections of their bill that didn't meet the Senate's unique rules that would have repealed student loan relief and environmental regulations, restricting federal judges' powers and the Trump administration's efforts to bulk up immigration enforcement. More: Could Trump fail on tax bill? Why going 'big' doesn't always work out as planned "If you like higher taxes, open borders, a weak military and unchecked government spending, this bill is your nightmare," Sen. Lindsey Graham, R-South Carolina, chairman of the Budget Committee, said in a statement. Graham's team did have to make several adjustments in recent days. Certain Medicaid-related proposals were also left on the Senate cutting room floor. But other reforms − including new work requirements for able-bodied Americans − survived a complex review process and are now on deck for approval in the upper chamber. The Trump administration 'strongly supports' the Senate version of the bill, in a White House Office of Management and Budget statement June 28. 'President Trump is committed to keeping his promises, and failure to pass this bill would be the ultimate betrayal," the statement said. Democrats are not on board with the legislation that Trump and Republicans have dubbed the "big, beautiful bill." Sen. Richard Blumenthal, D-Connecticut, said the president's legislative agenda looks more like a "big, ugly betrayal" because it gives tax breaks to wealthier Americans while cutting services to low-income people. "I am dedicated and determined to fight these kinds of changes that really impact adversely everybody in Connecticut and the country," Blumenthal said in a June 27 video posted to X. Senate Majority Leader John Thune, R-South Dakota, has been working behind the scenes to whip his members into a consensus. He's got support from Trump, who has spent days putting public pressure on any GOP senators considering defection. But it's still far from clear if Thune and Trump will be successful. Here's a closer look at what's in the Senate bill as the weekend floor debate gets underway. Medicaid and SNAP Medicaid, which provides health insurance to more than 71 million low-income Americans, has been a regular point of contention for both chambers grappling with the legislation. After the House narrowly approved big changes to the program that would save at least $625 billion − and potentially cause 7.6 million Americans over the next 10 years to lose their health insurance − the Senate sought even deeper cuts. Senate Parliamentarian Elizabeth MacDonough axed a handful of changes from the Senate bill, including prohibiting coverage for non-citizens and barring funds for gender-affirming care. The upper chamber's legislation maintains new work requirements and increased eligibility checks. The Senate plan seeks to force able-bodied adults to work 80 hours per month until age 65 to qualify for benefits, but it does include exemptions for parents or guardians of children under 14 and those with disabilities. Reforms to SNAP, another federal aid program long known as "food stamps," were sifted through the Senate's review process. MacDonough initially rejected Senate Republicans' attempt to push costs onto states. But the parliamentarian gave them the go ahead after Senate Republicans did some tweaking to the language that included giving states more time before they start paying. The latest version would also give Alaska and Hawaii temporary exemption from the cost-sharing and able-bodied requirements for up to two years, if the Agriculture secretary finds the two states are making a "good faith effort" to comply with the requirements. Many view the offer as a way to keep Alaska's two GOP senators, particularly Sen. Lisa Murkowski, in support of the overall bill. Extending Trump's 2017 tax cuts The heart of the legislation is an extension of the big tax cuts that Trump passed in 2017, which are set to expire on Dec. 31, 2025. The highest earner would continue to be taxed at a 37% rate under the bill, instead of 39.6% if the tax cuts expired. For individuals making between $9,525 and $38,700, they would continue to be taxed at 12%, instead of the 15% rate that would kick in if the legislation doesn't pass. More: How much will Trump's tax bill save you? Gains could vary by income. The 2017 law made other big changes to tax policy that will remain in place under the Senate bill, including doubling the child tax credit from $1,000 to $2,000 and nearly doubling the standard deduction. Other provisions in the 2017 tax law that affect both individuals and businesses will remain. 'This bill prevents an over-$4 trillion tax hike and makes the successful 2017 Trump tax cuts permanent, enabling families and businesses to save and plan for the future,' Sen. Mike Crapo, R-Idaho, said in unveiling the bill language. No taxes on tips, overtime Addressing one of Trump's most high-profile 2024 campaign promises, tipped employees like waiters and hairstylists would be able to claim a new tax deduction for tips through 2028, as could workers who are paid overtime wages. More: Americans are tired of tipping. Experts say no tax on tips could make things worse. The Senate kept this measure from the House version of the bill, but added on a $25,000 per year cap for the deduction and weakened the tax break for individuals whose income is above $150,000 or married couples making more than $300,000 combined. $5 trillion debt limit increase The Senate version looks to raise the nation's debt limit by $5 trillion, which is expected to aggravate fiscal hawks who were already concerned about the House bill, which projections say would raise that limit by $4 trillion. Including the language in this overall bill would give the federal government the OK to pay for programs that Congress has already authorized. Billions for U.S. military and 'Golden Dome' defense One area Republicans didn't spare an expense is defense spending, which some MAGA allies had suggested was "too much" in the lead up to the legislation's unveiling. More: Trump pushes $175 billion 'Golden Dome' missile defense plan The proposal injects roughly $150 billion into the military, including $9 billion for service members quality of life such as housing, healthcare, childcare and education. Another $1 billion is earmarked for border security, which Republican committee members have said will help carry out the president's immigration and "counter-drug enforcement" plans. One of the larger expenditures is $25 billion allotted for an initial investment in a "Golden Dome" missile defense shield that Trump promised will be fully operational by the end of his term in 2029. Green energy roll-backs A handful of moderate senators had pushed for a gentler approach to rolling back green energy tax credits passed under former President Joe Biden. The Senate's proposal heeds their call, slowing the phase-out of multiple clean energy provisions that the House had sought to eliminate more quickly. Billions for the border, deportations The Senate held onto the massive increase in funding for the Department of Homeland Security, increasing the department's budget by roughly $150 billion – which would more than double its current funding. The bill authorizes $45 billion for new immigration detention centers. Under the DHS umbrella, U.S. Immigration and Customs Enforcement already operates more than 160 detention centers around the country. Many are full, as the Trump administration ramps up arrests of immigrants. Another $27 billion would go to fund the administration's mass deportation campaign, including to pay for 10,000 more deportation agents. ICE currently has about 6,000 deportation agents. At that funding level, the current administration "will be poised to dramatically expand community arrests and expand cooperation with state and local law enforcement agencies," according to an analysis by the American Immigration Council, which advocates for immigrant rights. The Trump administration's border czar, Tom Homan, said without additional money, "it's going to be a hard road" to achieve the president's goal of deporting 1 million immigrants this year. "We have a lot of people to look for, a lot of people to arrest, a lot of national security threats we know are in this country," Homan said during a White House press conference June 26. "We need to find them. We need more money to do that. We need more agents to do that."
