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Kuwait Times
20 hours ago
- Business
- Kuwait Times
Senate passes divisive Trump spending bill
WASHINGTON: Senate Majority Leader John Thune (R-SD) (2nd-L), accompanied by Sen. John Barrasso (R-WY) (L), Sen. Mike Crapo (R-ID) (2nd-R), and Sen. Lindsey Graham (R-SC) (R), speaks to reporters off the Senate floor after the Senate passes President Donald Trump's so-called "One, Big, Beautiful Bill," Act at the U.S. Capitol Building on July 1, 2025 in Washington, DC. U.S. Vice President J.D. Vance was the tie-breaking vote as President Donald Trump's so-called "One, Big, Beautiful Bill," Act passes in the Senate. — AFP WASHINGTON: The Republican-led US Senate approved President Donald Trump's mammoth domestic policy bill Tuesday by the narrowest of margins, despite misgivings over delivering deep welfare cuts and another $3 trillion in national debt. Republican leaders had struggled to corral support during a record 24-hour 'vote-a-rama' amendment session on the Senate floor, as Democrats offered dozens of challenges to the most divisive aspects of the package. But Senate Majority Leader John Thune was able to turn around wavering moderates to deliver a 50-50 vote, with Vice President JD Vance breaking the tie. The sprawling text now heads to the House of Representatives, where it faces unified Democratic opposition and multiple Republicans balking at the budget-busting costs, as well as slashed health care and food aid programs for poor Americans. Trump's bill proposes a $4.5 trillion extension of his first term tax cuts, contentiously offset with $1.2 trillion in savings mainly targeting the Medicaid health insurance program, as well as federal food aid. The healthcare cuts could see an estimated 12 million low-income and disabled Americans lose coverage. The package also rolls back billions of dollars in green energy tax credits while providing a $350 billion infusion for border security and Trump's mass migrant deportation program. The president made clear that the goal remains to get the bill through the House in the coming days and sign it into law by Friday's July 4 Independence Day holiday. 'It's going to get in, it's going to pass, and we're going to be very happy,' Trump told reporters ahead of the vote. Polls show the bill is among the most unpopular ever considered, and Democrats hope to leverage public anger ahead of the 2026 midterm elections when they aim to retake the House. Backed by extensive independent analysis, they say the bill's tax cuts would disproportionately benefit the wealthy at the expense of social safety net programs for the poorest Americans. 'Today, Senate Republicans betrayed the American people and covered the Senate in utter shame,' said Chuck Schumer, the leader of the Senate Democratic minority. 'In one fell swoop Republicans passed the biggest tax break for billionaires ever seen — paid for by ripping away health care for millions of people and taking food out of the mouths of hungry kids.' A handful of senators in the Republican majority had threatened to upset the apple cart, voicing concerns that the bill would add more than $3.3 trillion to the nation's already yawning budget deficits over a decade. The most high-profile opposition came in the shape of tech billionaire and estranged former Trump aide Elon Musk, who balked at the bill's debt implications and stripping of clean energy subsidies. A furious Trump on Tuesday said he would consider deporting Musk — whose electric car company Tesla gives him extensive interests in green energy — and ending federal funds for his companies. 'Elon may get more subsidy than any human being in history, by far, and without subsidies, Elon would probably have to close up shop and head back home to South Africa,' Trump posted on social media. Although the House of Representatives has already passed its own version of the bill, it will have to come back to the lower chamber for a final rubber stamp before it reaches Trump's desk. House Republicans were watching anxiously from the sidelines to see if their Senate colleagues would adopt changes that would be hard for Speaker Mike Johnson to sell to his lawmakers. Fiscal hawks in the lower chamber are furious at what they say is $651 billion of extra deficit spending in the Senate's tweaks. A House vote could come as early as Wednesday but even with full attendance, House Republicans can only afford to lose three votes. 'The House will work quickly to pass the One Big Beautiful Bill that enacts President Trump's full America First agenda by the Fourth of July,' Johnson said after the vote. 'The American people gave us a clear mandate, and after four years of Democrat failure, we intend to deliver without delay.' – AFP
Time of India
2 days ago
- Politics
- Time of India
'It's time': Sen. Thune's fiery final pitch to pass GOP's Big Beautiful Bill, touts Trump tax cuts
Senate Majority Leader John Thune (R-SD) took to the Senate floor to deliver a powerful speech in support of the GOP's 'Big Beautiful Bill.' Thune made a fiery final pitch, calling for swift passage and highlighting key provisions, including the push to make Trump-era tax cuts permanent Show more Show less
New York Post
5 days ago
- Business
- New York Post
Senate GOP sets ‘aspirational' Saturday vote for Trump's ‘big beautiful bill'
WASHINGTON — Senate Republicans will be working through the weekend to try to pass their 'big beautiful' tax-and-spending megabill, even as last-minute deals on provisions are still being worked out and holdouts remain. Senate Majority Leader John Thune (R-SD) announced Friday that an 'aspirational' vote Saturday at noon would kick off debating the revised multitrillion-dollar bill, after supporters were delivered a setback with the culling of hundreds of billions of dollars in Medicaid spending reforms earlier this week. The bill, which could pass with a simple majority through a process known as budget reconciliation, makes portions of President Trump's 2017 tax cuts permanent, ends taxation on tips and overtime, boosts border security funding and scraps green-energy tax credits passed in the last administration. But it will have to raise the debt ceiling by roughly $5 trillion in order to cram all the provisions in. 5 Senate Majority Leader John Thune (R-SD) announces Friday that an 'aspirational' vote Saturday at noon would kick off debating the multitrillion-dollar 'One Big Beautiful Bill.' AP With a 53-47 majority in the upper chamber, the GOP can only afford to lose three votes and still pass the package with a tie-breaking ballot cast by Vice President JD Vance. A final copy of the proposed legislation has yet to be released. A version of it passed the House by a single vote May 22. But the lower chamber will have to vote on the bill again after the Senate finalizes its changes to it. Trump had been hoping the bill would pass both chambers and reach his desk for signing by July 4. 'The Great Republicans in the U.S. Senate are working all weekend to finish our 'ONE, BIG, BEAUTIFUL BILL,'' the president posted on his Truth Social on Friday. 5 President Trump had been hoping it would reach his desk by July 4. 'The House of Representatives must be ready to send it to my desk before July 4th – We can get it done,' he also said, adding later: 'We can go longer, but we'd like to get it done by that time, if possible.' GOP momentum screeched to a halt Thursday as the Senate's 'parliamentarian,' Elizabeth MacDonough — the 'referee' of the chamber who ensures proposed legislation abides by the rules — threw out line items that would have eliminated health-care coverage for non-citizens. The provisions had run afoul of the so-called 'Byrd Rule' — named for former Senate Majority Leader Robert Byrd ( — which requires bills passed under reconciliation to only focus on changes to spending and revenue levels rather than policy. 5 Sen. Tommy Tuberville (R-Ala.) has fumed over setbacks to its passage. AP Sen. Tommy Tuberville (R-Ala.) called for MacDonough's firing in response, posting on X: 'This is a perfect example of why Americans hate THE SWAMP. 'The WOKE Senate Parliamentarian, who was appointed by Harry Reid and advised Al Gore, just STRUCK DOWN a provision BANNING illegals from stealing Medicaid from American citizens,' he fumed. McDonough, a career civil servant, was appointed to her post by Democrats in 2012. Some of the health-care spending reforms have posed an issue for centrist Sens. Lisa Murkowski (R-Alaska) and Susan Collins (R-Maine) as well as GOP Sens. Josh Hawley (Missouri) and Jerry Moran (Kansas). 5 Sen. Ron Johnson (R-Wis.) has criticized the bill's impact on the national deficit. CQ-Roll Call, Inc via Getty Images 5 Senate Republicans will be working through the weekend to try to pass their 'big beautiful' tax-and-spending megabill. AFP via Getty Images The libertarian-minded Sen. Rand Paul (R-Ky.) and Sen. Ron Johnson (R-Wis.) have also criticized the bill's impact on the national deficit: as much as $3 trillion over the next decade, according to projections provided by the Congressional Budget Office (CBO). The House-passed bill also increases the state and local tax (SALT) deduction from $10,000 to $40,000 over a five-year period, though that line item had been contested by some in the Senate until recently. House Speaker Mike Johnson (R-La.) told reporters Friday morning that progress had been made on the SALT issue at a Thursday night meeting of Treasury officials and SALT Republicans. 'No one will be delighted about it, but that's kind of the way this works around here,' Johnson said. 'But the other issues, I think, will be resolved, hopefully today, and we can move forward.' Additional reporting by Kendall White
Forbes
5 days ago
- Business
- Forbes
What The Big Student Loan Senate News Means For Borrowers, Parents, And Students
WASHINGTON, DC - JUNE 24: U.S. Senate Majority Leader John Thune (R-SD) speaks to reporters during ... More the weekly luncheons at Capitol Hill on June 24, 2025 in Washington, DC. Senate Republicans are trying to pass reconciliation legislation that would remake federal student loan repayment. (Photo by) Millions of federal student loan borrowers got some unexpected good news this week, as Republican-led plans to make sweeping reforms to federal student loan repayment and loan forgiveness programs have stalled, at least temporarily. Unless Senate Republicans can come up with a solution, key elements of their legislative plans may not survive. The latest development is associated with budget reconciliation, a complicated legislative process that allows lawmakers to pass legislation with simple majorities in the House and the Senate, effectively bypassing a Senate filibuster (which requires 60 votes to overcome). Because Republicans have only 53 seats in the Senate, and they do not want to have to reply on Democratic votes, they are trying to push through President Donald Trump's main legislative priorities – including huge tax cuts and major reductions in government spending – through reconciliation. House Republicans successfully passed their reconciliation bill in May. But Senate Republicans have hit a snag. On Thursday, the Senate Parliamentarian, who is a nonpartisan official tasked with interpreting and issuing rulings on senate rules, determined that several provisions of the Senate reconciliation bill violate what's known as the Byrd Rule. This rule requires that reconciliation legislative comply with certain parameters, including that the provisions must directly relate to the budget, can't contain unrelated policy priorities, and can't grow the deficit beyond the budget window provided in the bill. The Senate Parliamentarian ruled that several provisions that would remove or curtail popular student loan programs do not pass the Byrd Rule, and therefore would require 60 votes to pass the Senate. If the ruling stands, this could effectively doom these provisions, as Democrats are not expected to join Republicans in supporting the legislation. But this isn't the end of the process, and much uncertainty remains. Here's what student loan borrowers should know, and how the new Senate update may impact borrowers, parents, and students. Current Borrowers Could Maintain Access To Existing Student Loan Repayment Plans The GOP reconciliation bills would, if enacted, fundamentally reshape federal student loan repayment by repealing most existing repayment plans – including for current borrowers. The changes would hit current borrowers enrolled in income-driven repayment particularly hard. Under the proposals, the ICR, PAYE, and SAVE plans would all be repealed, and potentially a newer and more affordable version of IBR, as well. All income-driven repayment plans are designed to provide reasonable monthly payments tied to income and family size, with student loan forgiveness after 20 or 25 years of payments. But with the repeal of these plans, current borrowers would be switched to a modified version of the 'older' IBR plan. Advocates estimated that some borrowers could see their payments skyrocket, since IBR is a much more expensive plan than PAYE and SAVE. But the Senate Parliamentarian's ruling this week scrambles these proposals. The Parliamentarian ruled that repealing these student loan repayment plans for current borrowers would violate the Byrd Rule, thus requiring 60 votes to pass the Senate. It is highly unlikely that seven Senate Democrats would join 53 Senate Republicans to pass this bill. If the ruling holds, it could mean that current student loan borrowers get to keep their repayment plan. New Student Loan Borrowers Would Still Lose Access To Current Repayment Plans Importantly, however, the Senate Parliamentarian's ruling only applies to current borrowers who are in repayment on their student loans. The Parliamentarian ruled that the provisions of the reconciliation bill that would cut off access to current repayment plans for new student loan borrowers going forward would not violate the Byrd Rule and, therefore, could remain in the bill. This means that for borrowers who take out new student loans on or after July 1, 2026, under the provisions of the bill, they would only have access to two repayment plans. One would be a Standard plan, with monthly payments stretched out over a term ranging from 10 to 25 years, depending on the original loan balance. The other would be a new income-driven repayment plan called the Repayment Assistance Plan, or RAP. RAP would use a repayment formula that differs in many ways from current IDR options, but would likely be relatively affordable for many borrowers. Payments under RAP would be higher than current IDR plans for the lowest-income borrowers, which has drawn criticism from many borrower advocates. RAP would also have a 30-year repayment term before a borrower could qualify for student loan forgiveness – far longer than the 20- and 25-year terms presently available. But RAP also would have some other benefits including an interest subsidy designed to prevent runaway balance growth, and the ability to direct some payments to loan principal. Parent PLUS Borrowers Could Maintain Access To Income-Driven Student Loan Repayment Plan Parent PLUS borrowers may also benefit if the Senate Parliamentarian's ruling holds. Under both the House and Senate versions of the reconciliation bill, most Parent PLUS borrowers could be completely cut off from income-driven repayment plans, as the bills would repeal ICR – the only income-driven plan that Parent PLUS borrowers are eligible to enroll in. While consolidated Parent PLUS loans that are already enrolled in ICR at the time of the bill's passage would be grandfathered in (and moved to the IBR plan, like other borrowers in the repealed plans), all other Parent PLUS borrowers would have no option to repay their student loans in accordance with their income, as they wouldn't be eligible for RAP. Some critics have warned that without any affordable repayment plan option, Parent PLUS loan defaults could skyrocket, particularly for older borrowers on a fixed income. If the repeal of ICR drops from the GOP Senate bill, current Parent PLUS borrowers who are already in repayment could continue to be eligible for the ICR plan. However, taking out new student loans or consolidating their loans after July 1, 2026 would make them a 'new borrower' and then ineligible. So, if the Senate Parliamentarian's ruling holds, Parent PLUS borrowers would still need to be strategic about maintaining ICR eligibility. GOP Senators Are Racing To Figure Out Whether Student Loan And Other Provisions Can Be Salvaged Despite the setback, congressional Republicans are still trying to figure out a path forward in light of the Senate Parliamentarian's ruling. And President Donald Trump has made clear that he wants the legislation to remain on track for passage by July 4th, which was the original goal. 'I think he wants us to do what we can do to get him a bill' by the 4th, Senate Majority Leader John Thune (R-SD) told reporters after meeting with the president on Thursday. Senate Republicans have a few choices. They can vote to override the Parliamentarian, although Thune has said quite clearly that this is not on the table, despite pressure from some conservative House Republicans. They can drop the contested provisions entirely, or put them up for a vote on the Senate floor knowing that they will not reach the 60-vote threshold. Or, more likely, Senate GOP lawmakers will rewrite elements of the bill so that it could comply with Senate reconciliation rules. Ultimately, what happens during the next week will likely determine the fate of several key federal student loan repayment programs, and what millions of borrowers will have to pay on their student loans in the coming years.
New York Post
6 days ago
- Politics
- New York Post
Senate parliamentarian scraps GOP's Medicaid reforms in ‘big beautiful bill'
WASHINGTON — Republicans faced another obstacle to passing President Trump's 'big beautiful bill' Thursday after the Senate parliamentarian ruled several health care spending reforms would need 60 votes to pass muster rather than the 51 sought by the GOP — likely preventing hundreds of billions of dollars in potential savings. Parliamentarian Elizabeth MacDonough determined some of the megabill's Medicaid provisions — including changes to federal funding for US states' share of health care provider taxes — were not eligible for approval via the simple majority gambit, known as reconciliation. Other axed provisions eliminated some Medicaid eligibility for non-citizen adults and children and lowered Federal Medical Assistance Percentage (FMAP) funding percentages for states that let non-citizens obtain health care coverage from 90% to 80%. Still another section that failed to pass muster with MacDonough blocked federal funding for Medicaid and the Children's Health Insurance Program (CHIP) to provide gender-transition medical care. 'The WOKE Senate Parliamentarian, who was appointed by Harry Reid and advised Al Gore, just STRUCK DOWN a provision BANNING illegals from stealing Medicaid from American citizens,' erupted Sen. Tommy Tuberville (R-Ala.). 'This is a perfect example of why Americans hate THE SWAMP.' 'Unelected bureaucrats think they know better than U.S. Congressmen who are elected BY THE PEOPLE,' he added. 'Her job is not to push a woke agenda. THE SENATE PARLIAMENTARIAN SHOULD BE FIRED ASAP.' 'How is it that an unelected swamp bureaucrat, who was appointed by Harry Reid over a decade ago, gets to decide what can and cannot go in President Trump's One Big Beautiful Bill?' griped Rep. Greg Steube (R-Fla.). 'It is time for our elected leaders to take back control. [Vice President JD Vance] should overrule the Parliamentarian and let the will of the people, not some staffer hiding behind Senate procedure, determine the future of this country.' 3 Senate parliamentarian Elizabeth MacDonough determined some of the megabill's Medicaid provisions can't pass by a simple majority because they violated the Byrd Rule. via REUTERS The Congressional Budget Office (CBO) determined that the House-passed version of the One Big Beautiful Bill Act, which the Senate has been revising, would add up to $3 trillion to the federal deficit over the next decade. House Republicans had previously boasted that as much as $1.6 trillion in spending cuts were included in their version of the tax-and-spending package. Senate Majority Leader John Thune (R-SD) described MacDonough's ruling as a 'speed bump' in the bill's progress. 3 Senate Majority Leader John Thune (R-SD) has indicated in the past that overruling the parliamentarian would be tantamount to abolishing the 60-vote filibuster. AP Thune, 64, has indicated in the past that ignoring the parliamentarian would be tantamount to abolishing the 60-vote filibuster, a feature that sets the upper chamber apart from the lower and provides a check for the party out of power. Vance, though president of the Senate, can't overrule the parliamentarian's decision outright either, but would need a vote by the full chamber. Sen. Jeff Merkley of Oregon, the top Democrat on the Senate Budget Committee, celebrated the ruling in a statement, sharing other provisions that had been struck down by the upper chamber's referee. 3 Republicans are balking at the Senate parliamentarian's decision on Thursday to scrap several health care spending reforms tucked into President Trump's 'big beautiful bill.' AP 'Democrats are continuing to make the case against every provision in this Big, Beautiful Betrayal of a bill that violates Senate rules and hurts families and workers,' Merkley (D-Ore.) said. 'Democrats are fighting back against Republicans' plans to gut Medicaid, dismantle the Affordable Care Act, and kick kids, veterans, seniors, and folks with disabilities off of their health insurance – all to fund tax breaks for billionaires.' Reconciliation legislation is subject to parliamentary scrutiny under the so-called 'Byrd Rule' — named for former Senate Majority Leader Robert Byrd — which requires bills to focus strictly on fiscal issues.
